Massachusetts

The custody bank was very profitable, and it raised its cost-saving forecast for year-end, but its nearly 3% increase in third-quarter noninterest expenses prompted an investor backlash.

The added heft will help companies like Independent Bank and Berkshire Hills better compete with the bigger banks that control much of the region’s deposits, and perhaps give them a leg up on other giants, including JPMorgan Chase, moving into the Boston market.

Edward Doherty is set to succeed Janice Houghton when she retires in November.

BNY Mellon, JPMorgan and Bank of America are recruiting interns from Year Up, many of whom lack college degrees but are trained in high-demand fields such as cybersecurity and anti-money-laundering.

The $54 million purchase of Pilgrim Bancshares will give Hometown branches in all three regions of Massachusetts.