News Topic: Rhode Island

Some states aren't waiting on the Federal Reserve to help with the historic hits to their budgets. Instead, they're working with a lender that they have a much longer history with: Bank of America. ... Read full article

The Massachusetts savings bank will gain branches in two communities as part of the acquisition. ... Read full article

Here's one way community banks are trying to win over commercial clients and wealthy households: by sharing internal research with them and positioning themselves as experts on everything from business sentiment to demographics. ... Read full article

Washington Trust warned that it could lose $3 million in annual revenue after two top advisers left to join a brokerage firm. Other banks are facing similar hits. ... Read full article

Centreville Bank will pay $116 million in cash for PB Bancorp. ... Read full article

More businesses are considering moving away from cash and checks, according to a recent survey by Citizens. That should be a wake-up call to smaller institutions, said Michael Cummins, who oversees treasury solutions at the regional bank. ... Read full article

The $180 million acquisition is the first for Berkshire since the sudden departure of CEO Michael Daly. ... Read full article

Clarfeld Financial Advisors will become a division of Citizens Bank Wealth Management. ... Read full article

The Providence, R.I., company reported a 27% gain in profits thanks partly to a boost in fee income from its purchase of Franklin American Mortgage in August. ... Read full article

Once a hotbed of activity, the region has reported the fewest bank mergers since the financial crisis. ... Read full article

As other banks de-emphasize mortgage lending, Citizens is spending half a billion dollars to buy a large originator with a big servicing portfolio. ... Read full article

The company will snag its first branches in three towns in Connecticut and Rhode Island after buying locations from Webster Financial. ... Read full article

Citizens Financial Group plans to merge its two banking charters into a single national bank. The move would make the OCC the bank's primary regulator and eliminate the costs of dealing with the FDIC and state officials. ... Read full article

The company's planned purchase of Coastway Bancorp in Rhode Island makes sense since both institutions used to be credit unions. ... Read full article

Citizens Financial, Regions and SunTrust reported strong gains in consumer banking, including loans made through partnerships with retailers and fintech lenders. They want to keep it up to compensate for slack in commercial lending. ... Read full article

Ned Handy, who will take the helm in March, wants to be more aggressive luring deposits in the company's home state. That should reduce the company's reliance on other funding sources to support loan growth. ... Read full article

Joseph MarcAurele will retire as chairman and CEO in March. The company's president and chief operating officer, Ned Handy, will take the helm. ... Read full article