Financial Services
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Social Venture Partners provides $20K to Metryx
Social Venture Partners of Rhode Island provided a $20,000 loan to Metryx LLC, “further strengthening the collaboration between these two organizations,” said SVPRI in a release. more
| 4/18/13
BofA misses estimates as mortgage banking weighs on results
(Updated, 10:15 a.m.) Bank of America Corp. reported first-quarter profit that missed analysts’ estimates as lower mortgage banking income and higher legal costs slowed the firm’s turnaround. The shares dropped 3 percent in early trading. more
Independence Financial Partners hiring
While many companies are still downsizing downsize and the job market in Rhode Island struggles to expand, Independence Financial Partners, the local John Hancock Financial Network firm, is hiring, said spokeswoman Deb Nelson. more
Survey: 29% of teens will depend on parents until 25 or older
One-in-four teens believe they won’t achieve a positive cash flow, but will depend largely on financial assistance from their parents or guardians, until they’re at least 25 to 27 years old, teen advocacy group Junior Achievement of Rhode Island announced in an April 5 press release. more
Navigant members to get bonus dividend
Navigant Credit Union members will receive a bonus dividend of 2 percent of interest accrued on accounts in 2012, according to a press release. This marks 25 consecutive years the credit union awarded a dividend to its members. more
Amica donates $37K to Boston Children’s Hospital
Lincoln-based Amica Mutual Insurance Co. donated $37,000 to Boston Children’s Hospital at Comcast sports Net’s Ace Ticket Studios on April 5. The donation brings Amica’s total gift to $177,00 during the past five years. more
Changes come slowly to EDC
Reforming the state agency at the heart of the 38 Studios LLC loan guarantee has been as deliberate, modest and incremental as the video game company’s collapse was sudden and spectacular. more

By Patrick Anderson
PBN Staff Writer | 4/15/13

Starkweather & Shepley acquires Braintree-based firm
Starkweather & Shepley Insurance Brokerage Inc., Rhode Island’s largest independent insurance agency, has acquired Braintree, Mass.-based Crosbie-Macdonald MD Insurance Services, Starkweather & Shepley announced Friday. more
| 4/12/13
RBS said to fire derivatives trader weeks after Libor fine
Royal Bank of Scotland Group PLC dismissed a London-based interest-rates trader, weeks after settling with regulators over its part in the Libor scandal, two people with knowledge of the situation said. more
Slimming down, shaping up, with customers in mind
Michael Hudson’s motto is his mantra: The customer pays for everything. more
By Paul E. Kandarian
Contributing Writer | 4/8/13
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