A former executive vice president of State Street Corporation was sentenced yesterday in federal court in Boston in connection with engaging in a scheme to defraud at least six of the bank’s clients through secret commissions applied to billions of dollars of securities trades.
UniFirst Corp. on Wednesday reported fiscal fourth-quarter net income of $29.3 million, after reporting a loss in the same period a year earlier.
State Street Bank and Trust Company broke away from the pack this year, adding a huge amount of assets to its business to grab a commanding lead in market deposit share in Massachusetts.
East Boston Savings Bank has opened its 36th branch at 1614 Tremont St. in Boston. The Brigham Circle office opened to further expand the bank’s reach in “lucrative, high-density” Boston markets, East Boston Savings Bank said in a statement.
Cambridge Bancorp on Monday reported third-quarter earnings of $6.7 million.
The first full month of gambling at a full-scale casino yielded more than $6.7 million in tax revenue for Massachusetts and almost $27 million in gross revenue for MGM Springfield, the Gaming Commission said Monday.
Medford-based Century Bank had a profitable third quarter of the year, but saw total commercial real estate volume decline on an annual basis.
In this week’s Personnel File, banks, construction companies and law firms bolster their ranks with new hires and promotions.
Darryl Fess came from humble beginnings, but now runs one of the largest community banks in Massachusetts. He grew up with four siblings in an apartment his parents rented for 20 years in Somerville.
The Cannabis Business Advisory division of the Boston-based law firm Burns & Levinson recently co-hosted with Viridian Capital Advisors its second annual cannabis conference.
To bastardize a quote from Harry Truman, the economists need another hand. The president once quipped he needed a one-handed economist, as they were prone to saying, “on one hand … on the other.”
Financial institutions have been trying to help consumers take control over their financial matters by providing them access to personal financial management capabilities in digital banking.
The Cooperative Credit Union Association, which represents credit unions in Massachusetts, Rhode Island, New Hampshire and Delaware, has found its next leader.
The former office manager of a Boston-based dental practice was charged in an indictment unsealed yesterday in connection with embezzling funds from her former employer.
Cape Cod 5 of Orleans has opened a new office in Plymouth at 6 Resnik Road. The office will house the bank’s residential lending, commercial lending and wealth management teams.
In this week’s roundup of Community Good Works, banks and credit unions contribute to their communities by volunteering their time and donating funds.
Fantini & Gorga of Boston has arranged four loans totaling $15.55 million to refinance four mixed-use properties on Newbury Street in Boston.
A Massachusetts mayor who was first elected at age 23 was arrested Thursday and charged with defrauding investors in a company he formed out of more than $230,000 and using the funds to enhance his political career and pay for a lavish lifestyle, federal prosecutors said.
With its state charter now approved, Merrimack Valley Credit Union is pursuing its merger with Bridgewater Credit Union for the second time this year.
Community banks in urban areas hold more assets and tend to be larger, but have consistently been out-performed by community banks in rural areas.
