Farmington Bank Parent Reports Solid Profits in Q2 Ahead of Acquisitions
The parent of Farmington Bank had solid profits in the second quarter as it prepares to be acquired.
The parent of Farmington Bank had solid profits in the second quarter as it prepares to be acquired.
Profits at the parent company of Hartford-based United Bank slowed in the second quarter due to unforeseen expenses, but growth is shaping up solid for the rest of the year.
The parent company of Brookline Bank had improved profits in the second quarter of the year, while dealing with the same deposit pressure that most community banks in Greater Boston have been experiencing.
The parent company of East Boston Savings Bank had another strong quarter, reporting net income of $14.1 million, or $0.27 per diluted share, compared to $11.3 million, or $0.22 per diluted share, for the second quarter of last year.
Long-term strategic investments helped Webster Bank to a strong second quarter, even as the company continued to see fierce competition from nonbank lenders in commercial real estate.
It was all happy talk from executives at the parent of Rockland Trust, as the bank turned in solid growth and huge profits in the second quarter.
The parent company of Berkshire Bank continued to grow loans and deposits at a healthy clip during a time of deposit competition and spread compression.
The parent company of Boston Private reported profits in the second quarter, but took a substantial hit that was expected due to its recent divestiture of Anchor Capital Advisors, while also facing significant deposit competition.
U.S. retail sales for the month of June were $506.8 billion, an increase of 0.5 percent from the prior month and up 6.6 percent year-over-year, according to the Census Bureau.
The Massachusetts Division of Banks reports branch activity in June.
The parent company of Medford-based Century Bank reported second quarter net income of nearly $9 million, or $1.62 per Class A share diluted, an increase of 10.3 percent compared to net income of $8.2 million, or $1.47 per Class A share diluted, for the same period a year ago.
The auto industry had a strong month in June as consumers continued to purchase light trucks at a high clip. The seasonally adjusted sales rate for June was 17.47 million, up from 16.72 million one year ago.
Single-family and condominium prices in Massachusetts continue to perform well.
The parent companies of Melrose Bank and Pilgrim Bank both reported positive net income and growth in the first quarter of 2018.
The parent company of Hyde Park-based Blue Hills Bank made solid gains in the first quarter, despite a slowdown in profits from the same period last year.
Admirals Bank continues to slow losses as it works to bring itself back to profitability.
The parent company of Lowell-based Enterprise Bank reported strong profits and growth in the first quarter, crediting the recent boost from tax reform and continued investment in the bank.
The parent company of Rockland Trust reported another quarter of record earnings in what it sees as a strong economic environment. But loan demand did not pan out as expected, particularly in the upper end of the market.
The parent company of East Boston Savings Bank had another year of explosive growth, but experienced a lower net interest margin due to changes in the country’s tax code and a higher cost of funds as deposit competition and interest rates increase.
It was another quarter of record earnings for the parent company of Brookline Bank that included strong profits and loan growth.