Banker & Tradesman’s Editorial Cartoon: A Citizens Standoff
This town ain’t big enough for two banks with nearly the same name.
Silicon Valley Bank Asks Depositors to Return
The CEO of the bridge bank created following Silicon Valley Bank’s failure is fighting a tide of deposits that have flowed out of the bank in recent days.
Citizens Adds Name to Fifth Venue. What’s the Return?
By putting its name on everything from hockey rinks to opera houses, lenders big and small are hoping they can expose their brands to consumers across a wide range of ages and social groups.
Citizens Launches Corporate Accounts for Carbon Offsets
Citizens Bank has launched a deposit account to help its corporate clients acquire carbon offsets to help companies transition to a lower carbon economy and meet environmental, social and governance goals.
Business Lending Is Still Good Business
Inflation is at a historic high, the Federal Reserve has raised its benchmark interest rate 2.5 percent in six months and talk of recession is in the air. Yet businesses’ appetite for debt didn’t dim in Q2.
FoxRock Gets Financing for Next Quincy Development
A $58.5-million construction loan from Citizens Bank will catalyze the development of FoxRock Properties’ 201-unit Center & Stone complex in Quincy.
M&T, Citizens, Santander Pass Fed Stress Test
The nation’s largest banks, including many key to the New England economy, have strong capital levels and would be able to continue lending to households and businesses during a severe recession, according to the Federal Reserve’s annual stress test.
Citizens Eliminates NSF Fee
Citizens Bank plans to eliminate nonsufficient funds fees by the end of the year, a move being made as more banks continue to take steps to address the effects banking fees have on consumers.
Bakery-to-Biotech Redevelopment Gets $194M Construction Loan
A redevelopment of the Au Bon Pain headquarters in South Boston’s marine park for Ginkgo Bioworks received $194 million in construction financing from Citizens Bank.
$129M Loan from Citizens Launches Quincy Center Development
Construction of a 465-unit market-rate apartment complex called Ashlar Park is under way after a Quincy developer received $129-million in construction financing from Citizens Bank.
Citizens Adds Early Pay Feature for Corporate Clients
Citizens has launched a new product that will let corporate clients give employees on-demand access to their earned pay, the Providence-based bank said in a statement.
Citizens Completes HSBC Branch, Digital Bank Acquisition
Providence-based Citizens Financial Group Inc. has completed the acquisition of 80 HSBC Bank U.S.A.’s East Coast branches and HSBC’s national online deposit business.
Citizens Bank Moves Toward National, Digital-First Bank
Providence-based Citizens Financial Group plans to use its upcoming acquisitions, including HSBC’s digital bank, to help fuel its expansion nationally.
From Call Center Rep to Market President
Lisa Murray got her start in banking answering calls in Shawmut Bank’s customer service center. Three decades later, she’s the new Massachusetts market president for Citizens Bank.
Bankers See Reason for Optimism in 2022
Even as the omicron variant adds another layer to the challenges presented by the pandemic, some banks head into 2022 with reasons for optimism.
Citizens to Acquire Another Investment Bank
Providence-based Citizens Financial Group Inc. plans to acquire another investment bank, the third deal by Citizens’ commercial bank this year.
Former Bank Manager Pleads Guilty to Tax Refund Scheme
A former branch manager at Webster Bank and Citizens Bank pleaded guilty yesterday to participating in a tax-preparation scheme that targeted one of Greater Boston’s immigrant communities.
Citizens Pledges Nearly $3M for Workforce Development
Citizens Bank will spend nearly $3 million to support workforce development in Greater Boston through an initiative that will include a micro-credentialing program at Bunker Hill Community College.
Personnel File
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s the 257th installment of Banker & Tradesman’s Personnel File.
40B Development Breaks Ground in Woburn
A 168-unit apartment complex approved under the Chapter 40B affordable housing law is set to begin construction in Woburn with developers targeting a completion date in late 2022.
