Brookline Bank’s Fourth Quarter Proves a Mixed Bag
The bank is in the process of forcing the sale of a downtown Boston office building for a residential conversion to remedy problems with a loan secured by the property.
Berkshire Bank Raises $100M to Support Brookline Merger
Berkshire Bank executive say the bank has raised $100 million in capital to support its upcoming merger with Brookline Bank.
Eastern Bank Won’t Rule Out a 2025 Merger
With the year 2025 already underway, Eastern Bank executives reflected on the Boston-based bank’s merger with Cambridge Trust last year – and said they were open to another deal this year.
Citizens Private Bank Hits $7B in Deposits
During its fourth-quarter earnings call, Citizens executives announced that the company’s private bank has grown to $7 billion in deposits.
Rockland Trust Reports $50M in Net Income
The increase in net income was largely attributable to growth in net interest income, a decrease in loan loss provision and a reduced tax rate compared to the prior quarter, the bank said.
Enterprise Bank Q4 Profits Down on Higher Deposit Costs
Lowell-based Enterprise Bank saw net income in the fourth quarter decrease to $7.9 million from $9.7 million in the third quarter as the cost of high-interest deposits– primarily in its money market and certificates of deposit products – offset the gains from yields in assets.
SVB Loans, Deposits Shrank in Q4
Silicon Valley Bank recorded lower deposits and loans in the fourth quarter of last year as the nation’s innovation economy continues to suffer under the weight of higher interest rates and investor expectations.
Eastern Bank Moves to Sell Four Non-Performing Loans
Eastern Bank is resolving its three troubled office loans from the third quarter of last year, plus a new non-performing real estate loan that cropped up in the fourth quarter, by selling them at a loss.
Berkshire Bank Falls to Net Loss Over Securities Sale
Berkshire Bank suffered a net loss on a securities sale during the fourth quarter of 2023, the bank reported Thursday, dragging it down to a net loss of $1.4 million.
Brookline Bancorp Recorded Flat Profits in Q4
Brookline Bank’s parent company recorded net income of $22.9 million in the fourth quarter of 2023, flat compared to the $22.7 million the previous quarter thanks to higher deposit costs and spending related to its acquisition of PCSB Bank.
Citizens’ Profits Down for Q4, All of 2023
Citizens saw its profitability drop in both the...
Megabank Profits Mostly Fall in Q4 Amid Upbeat CEO Messaging
Three of the nation’s biggest banks said Friday that their profits fall last quarter, as JPMorgan Chase, Bank of America and Citigroup deal with the lingering effects of higher interest rates and the industry costs of last year’s banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank.
Rockland Trust’s Size Could Limit Future M&A to Bigger Deals
Rockland Trust plans to continue focusing on areas in and around its current market when considering its next bank acquisition, but the bank’s growing size could limit future opportunities.
Envision Bank Sees Another Year of Positive Earnings
Envision Bank continued to rebound from a stretch of losing years with its second straight year of positive earnings.
Eastern Bank to Search for M&A Opportunities
After finishing up its first quarter as a public bank, Eastern Bank in the year ahead plans to reduce expenses as it looks to make larger bank acquisitions than it had in the past.
Harbor One Saw Record Earnings in the Fourth Quarter
HarborOne Bank had record earnings per share in the fourth quarter as its mortgage company had more than $800 million in loan closings.
Berkshire Bank’s Earnings Drop in the Fourth Quarter
Berkshire Bank had positive earnings for the second straight quarter, but net income was still down as the bank continues to deal with the effects of the pandemic.
East Boston Savings Bank Saw Record Fourth Quarter Earnings
East Boston Savings Bank saw record earnings in the fourth quarter as the bank increased its net interest income.
Rockland Trust Sees Improvements in COVID Modifications
While Rockland Trust Co. saw earnings drop more than 26 percent in 2020 compared to 2019, the amount of its loan portfolio receiving COVID-related modifications improved in the fourth quarter.
Webster Bank Aims for Big Savings with Branch Closures
Webster Bank could see $18 million in cost savings from its plans to close branches and take other steps to reduce expenses.
