Financial Services
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BofA’s debt cuts leave 3-year capital cushion
Bank of America Corp.’s record $53 billion reduction of of long-term debt in the second quarter will help the lender go three years without needing to tap the bond market, the biggest cushion in its history. more
Rockland parent posts 2Q profit decline
Independent Bank Corp., parent of Rockland Trust Co., posted net income of $8.9 million, or 41 cents per diluted share, for the second quarter, a decline of 20.2 percent when compared with the year-earlier period. more
Navigant, Columbus Credit Union to merge
Navigant Credit Union and Columbus Credit Union have jointly announced that the two institutions are merging, with Navigant remaining as the surviving credit union. more
RBS refuses to turn over data to Canadian regulators
Citizen Bank parent the Royal Bank of Scotland is one of more than 10 banks under scrutiny from authorities in a rate-rigging scandal and is refusing to turn over information to Canadian regulators, according to The New York Times. more
| 7/17/12
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
Starkweather acquires Sturbridge, Mass., firm
Starkweather & Shepley Insurance Brokerage Inc., the state’s largest independent insurance agency, announced today that it has acquired Insurance Professionals of New England, a Massachusetts-based agency. more
38 Studios starts liquidation
Former Red Sox pitcher Curt Schilling’s defunct videogame company 38 Studios LLC begins liquidation Tuesday, news sources report. more
| 7/10/12 | 1 comment
U.S. stock futures rise as concern over Europe’s crisis eases
U.S. stock futures advanced, indicating the Standard & Poor’s 500 Index will snap three days of losses, as concern over Europe’s debt crisis eased after the region’s officials took steps to protect Spanish banks. more
HDS International lands financing
Renewable energy company HDS International Corp. has entered into a convertible drawdown facility providing funds and credit, the company announced Tuesday. more
| 7/5/12
U.S. stocks rise as banks rally after Moody’s downgrades
U.S. stocks rose, after yesterday’s selloff, as the downgrade of global banks by Moody’s Investors Service was followed by rallies in financial shares while the European Central Bank announced changes to its lending program. more
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