Eastern Bank Responds to Activist Investor Comments
Executive Chair Bob Rivers didn’t directly address HoldCo’s threat of a proxy fight, but touted the bank’s rising share price, earnings, deposit market share and other metrics.
FHLB Boston Earnings Show Asset Increase as Bank Launches New Rate Product
While interest rate shifts saw income decrease, Federal Home Loan Bank of Boston saw its assets increase in the third quarter of 2024.
Rockland Trust Facing $54.6M Non-Performing Route 128 Office Loan
While Rockland Trust saw deposit and net interest margin growth, a $54.6 million office loan was reclassified as non-performing executives said Friday morning, hampering the gains the bank made in the third quarter.
Citizens Private Bank Eclipses $5B in Deposits
In its third-quarter earnings call Wednesday, Providence-based Citizens Bank revealed that its new private bank had eclipsed $5 billion in deposits, up from $1.2 billion at the start of the year.
FDIC-Insured Banks Saw Decline in Combined Net Income in Q3
The nation’s FDIC-insured banks saw a decline in their aggregate net income in the third quarter versus the prior quarter due to lower non-interest income and higher losses on securities.
Eastern Bank Reveals Three Troubled Boston Office Loans
The dollar volume of Eastern Bank’s non-performing loans jumped by $17 million thanks to three non-performing commercial office buildings in Boston’s Financial District.
Brookline Bank Profits Grow Conservatively Quarter-on-Quarter
Brookline Bank reported a slight improvement in net income for the third quarter versus the previous quarter, faring better than most banks amid industry-wide margin compression.
HarborOne Profitable in Third Quarter on Higher Deposits, Loans
Brockton-based HarborOne Bank saw profitability quarter-on-quarter as it attracted more deposits and slightly more loans, despite the high-interest rate environment dragging its performance year-on-year.
Resi, CRE Borrowing Drives Q3 Increase in Rockland Trust Loans
Borrowers are facing some of the steepest interest...
Citizens Launches Private Bank, to Open Six Regional Offices
Citizens Bank jumped into what it said was a “void” in the region’s banking market for the richest individuals and businesses Thursday, launching a private bank and beefing up its wealth management services with new hires.
M&T Bank Net Income Declines in Face of High Rates
M&T Bank continued to see high interest rates weigh down its financials in the third quarter thanks to its higher cost of deposits borrowers made cautious by high lending rates.
Cambridge Trust Earnings, Income Slipped in Q3
In what may prove to be one of its final quarters as an independent bank, Cambridge Trust reported its net income fell 6 percent year-over-year.
Hingham IFS Records Lower Third Quarter Net Income
In spite of recording higher profits in the second quarter, Hingham Institution for Savings felt the profit pinch in the third quarter due to higher costs of deposits outweighing interest yields on loans.
Compass Kept Adding Agents Despite End of Recruitment Sweeteners
Will Compass be able to keep attracting agents even as it hits choppy waters? The answer appears to be yes – at least so far.
Berkshire Bank LO Hiring Spree Pays Off
Berkshire Bank executives reported a growing loan portfolio in this morning’s third-quarter earnings call, driven by residential mortgages at a time when the housing sector was hitting turbulent waters.
Cambridge Trust Expects Deposits to Hold Steady Through Q4
Cambridge Trust Co. executives said Tuesday that the bank expects its deposits won’t keep growing through the end of the year as lenders everywhere face an uphill battle against a weakening economy and rising interest rates on Treasury bonds.
Eastern’s Insurance Division Helped Power Q3 Growth
Eastern Bank’s insurance division helped drive performance during the Boston-based bank’s final quarter before becoming a stock bank in mid-October.
Loan Deferrals Eased in Third Quarter at Local Banks
Local banks have started to see the number of loans requiring COVID-19-related modifications decline but continue to watch how the pandemic could affect their loan portfolios.
Mortgage Activity Drives Q3 Earnings at MA Stock Banks
Massachusetts’ stock banks have continued to see positive earnings during the pandemic, with the third quarter giving at least one local bank the best quarter in its history.
Berkshire Returns to Profitability in Q3
After a tough second quarter, Berkshire Bank says it’s back to profitability based on its third-quarter results.
