Financial Services
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Division of Taxation mandates e-filing
Tax return preparers will be penalized if they fail to electronically file tax returns in the filing season starting Jan. 1, 2013, according to the R.I. Division of Taxation. more
Sovereign Bank profits rise 27% in 2Q
Sovereign Bank, N.A. – a subsidiary of Banco Santander S.A. – saw its 10th consecutive quarter of profitability, with net income of $127 million, an increase of 27 percent compared with the $100 million net income reported in the second quarter of 2011. more
| 7/26/12
Oppenheimer, RBS Citizens reach deal
Oppenheimer Holdings Inc., the investment bank run by Albert “Bud” Lowenthal, reached a client-referral agreement with RBS Citizens Financial Group Inc. to share middle-market clients for some services. more
Wash Trust posts record profit in 2Q
Washington Trust Bancorp Inc., parent company of The Washington Trust Co., posted a record second quarter net income of $8.7 million, or 53 cents per diluted share, a rise of 15.2 percent compared to the second quarter 2011 figures. more
NewportFed second-quarter profit declines 42 percent
Newport Bancorp Inc. the holding company for Newport Federal Savings Bank, on Friday reported second-quarter net income of $253,000, a 42 percent decline from the $439,000 profit posted during the same quarter ending June 30 last year. more
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
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