After 20 years of renting the building where he has his Middletown car dealership, Hyundai of Newport, Paul Mika finally bought the facility for $2 million with financing through a U.S. Small Business Administration loan originated by BankNewport.
Even as it posted a record quarterly profit of $10 million for the third quarter, Washington Trust Bankcorp Inc., parent company of The Washington Trust Co., is confronting the sluggish economy and competitive market. The effort includes a long-term plan to revise company pensions and expanding business with nonprofits, particularly hospitals and other medical practices.
RBS Citizens is considering adding 800 employees in positions including loan originators for small- and mid-sized businesses and in wealth management divisions, according to Boston Business Journal.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.