Banking
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Banks use $1.77T stockpile to double treasury buying
The gap between U.S. bank deposits and loans is growing at the fastest pace in two years, providing lenders with more funds to buy bonds and temper the biggest sell-off in Treasuries since 2010. more
BofA joins JPMorgan in having units ripe for sale, Mayo says
Bank of America Corp.’s brokerage and JPMorgan Chase & Co.’s asset-management division are among businesses ripe for divestiture if U.S. banks break up to improve stock prices, according to CLSA Ltd.’s Mike Mayo. more
Webster revenue up 6% in 2Q
Webster Financial Corp., the holding company for Webster Bank, has announced net income available to common shareholders of $40.6 million, or $.44 per diluted share, for the quarter ended June 30 up 6 percent from $38.3 million, or $.42 per diluted share for the first quarter ended March 31. more
Commission lays groundwork for sale of I-195 land
A little more than a year since the Interstate 195 Redevelopment District Commission first met, few changes are visible on the 41 acres of urban scrubland freed by the removal of the highway overpass. But that doesn’t mean that nothing is being done in the effort to take advantage of one of Rhode Island’s best real estate and economic-development opportunities in decades. Through environmental work and pre-permitting, the commission has already made the 21 buildable acres much more attractive to potential buyers. The next steps facing the commission include taking ownership of the land from the R.I. Department of Transportation and then figuring out how to pay for maintenance of the parcels, sidewalks and 14 acres of parks. more

By Patrick Anderson
PBN Staff Writer | 12/10/12

TD Bank loses customer information data
As many as 500 TD Bank customers in Rhode Island and 73,000 in Massachusetts could be affected by the loss of two data backup tapes that contained personal information such as Social Security numbers and driver's license numbers. more
Banks contest BofA’s $8.5B Countrywide settlement
Three Federal Home Loan Banks and a fourth financial institutions filed court documents on Friday against Bank of America Corp.’s $8.5 billion agreement to settle claims related to mortgages issued by its Countrywide unit, The New York Times reported. more
| 2/4/13
Sovereign posts 11th consecutive quarter of profitability in 3Q
Sovereign Bank, N.A. – a subsidiary of Banco Santander S.A. – saw its 11th consecutive quarter of profitability, with net income of $123 million. more
| 10/29/12
Survey: Cash is king for many companies
The expression “cash is king” has perhaps never rang truer than today, with companies holding onto more money than in years past, according to a recent national survey. more

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

Wash Trust provides $3.8M for R.I., Conn. projects
The Washington Trust Co. recently provided nearly $3.8 million to two customers for the purchase of commercial properties in Rhode Island and Connecticut. more
| 12/11/12
BofA jumbo-deal delay shows market on life support
A delay of Bank of America Corp.’s return to selling mortgage securities shows the housing bust is still limiting the market’s revival. more
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