Banking
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Rockland parent posts mixed results in 3Q
Independent Bank Corp., the parent company of Rockland Trust Co., has announced net income of $11.6 million, or 53 cents per diluted share, for the third quarter of 2012, a three percent decrease year-over-year from the third quarter 2011, but a 23 percent increase from the three months ended June 30. more
Fed says credit quality of large loans improves for third year
The quality of large loans in the U.S. banking system improved for the third year in 2012, with problem credits falling 8.1 percent to $295 billion, according to the Federal Reserve. more
SEED seeks member input
The South Eastern Economic Development Corporation is soliciting member feedback leading into its annual meeting, to be held Thursday, Nov. 29, at White’s of Westport. more
| 11/27/12
Sovereign commits to Sandy relief
Sovereign Bank N.A. executives and the Formula One automobile racing team it sponsors, have made major commitments to support relief efforts related to Hurricane Sandy. more
| 11/27/12
Randolph Savings foundation donates to Cranston library
Thanks to a $1,000 grant from the Randolph Savings Peter T. Pastore Jr. Charitable Foundation, the Cranston Public Library is piloting a project to use Apple iPads for early literacy development. more
| 12/11/12
McDonough to succeed Doyle as head of Randolph Savings
James McDonough has been tapped to serve as president and CEO of Randolph Savings Bank, succeeding the retiring Jack Doyle, Chairman of the Board Richard Pierce announced Monday. more
| 3/25/13
BofA said to shift U.S. Trust’s bonuses to push for clients
Bank of America Corp. shifted bonuses at U.S. Trust to focus employees on adding clients and boosting account balances, a change that could mean lower pay for some members of the wealth-management unit. more
WashTrust reports record lending in third quarter
Washington Trust Bancorp Inc. reported record lending of $2.26 billion in the third quarter due mostly to favorable interest rates and increased commercial lending, bank Chairman, President and CEO Joseph J. MarcAurele said last week. more

By Michael Souza
PBN Staff Writer | 10/29/12

Bank of America launches mobile deposits
Say goodbye to your local teller and hello to your smartphone. more
BofA profit drops on lower revenue as mortgage cleanup continues
Bank of America Corp. reported profit dropped 63 percent as revenue shrank and costs mounted from faulty foreclosures and flawed home loans. more
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