Banking
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RBS sued by ING, Illinois teachers over 2008 rights offering
Royal Bank of Scotland Group Plc was sued by a group of 21 pension funds and investment firms claiming the lender misled them about its finances when selling new shares in 2008, months before a government bailout. more
BofA to revamp branch design to attract customers
Bank of America Corp. plans to renovate its 5,400 domestic branches to include tablet-carrying employees and couch and chair lounge areas for customer use in order to coax customers back into its branches, according to a report from USA Today. more
RBS likely to face more Libor sanctions, Japanese watchdog says
Royal Bank of Scotland Group Plc faces further sanctions in Japan after the country’s securities regulator found traders at Britain’s biggest publicly owned lender attempted to manipulate benchmark interest rates. more
BofA misses estimates as mortgage banking weighs on results
(Updated, 10:15 a.m.) Bank of America Corp. reported first-quarter profit that missed analysts’ estimates as lower mortgage banking income and higher legal costs slowed the firm’s turnaround. The shares dropped 3 percent in early trading. more
Community-bank status helping Coastway expand lending
Bill White has served as the president and CEO of Coastway Community Bank since 2000, when the bank merged with the Ocean State Community Credit Union. more
BofA, Citizens ‘about average,’ say J.D. Power and Associates
On J.D. Power and Associates 2013 retail banking ratings for New England, both Bank of America and Citizens Bank ranked “about average” across the board, while Sovereign Bank was labeled as “the rest,” the lowest available score. more
| 4/18/13
Barron’s: Makin top adviser in Rhode Island
Raymond James’ Malcom Makin was ranked the top financial adviser in the state of Rhode Island, according to Barron’s financial magazine’s annual listing of the top 1,000 financial advisers in the U.S. more
4/23/12
Newport Fed’s bottom line falls 65% in 1Q
Newport Bancorp Inc., parent of Newport Federal Savings Bank, saw its bottom line fall 64.9 percent year over year during the first quarter of 2013. more
| 4/19/13
BankNewport gives grant to art museum for program
BankNewport recently presented a $5,000 grant to the Newport Art Museum to support its Community Arts Enrichment Program, an after-school program offered in collaboration with the Boys & Girls Clubs of Newport County. more
4/23/12
Wash Trust 1Q profit declines to $7.4M when CDO liquidates
(Updated, 1:05 p.m.) Washington Trust Bancorp Inc., parent company of The Washington Trust Co., reported first-quarter net income of $7.4 million, or 45 cents per diluted share, on Monday, a decline of 12.1 percent from the first three months of 2012. more
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