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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
Private Reserve Properties LLC, a Providence company, faces an Environmental Protection Agency penalty of up to $421,900 for what the agency says are repeated violations of federal lead-based paint disclosure laws and regulations. more
The University of Rhode Island has received a $14 million federal grant to run a new program that will provide care for cognitively challenged adults. more
Rhode Island’s 10.9 percent unemployment rates remains the second worst in the country, as the state saw the largest year-to-year percent decrease in employment in the United States, according to a U.S. Bureau of Labor Statistics report released Friday. more
GTECH Corp. has signed a five-year extension of its lottery products and services contract with the South Dakota Lottery, extending the term of the deal through Aug. 2, 2019. more
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
A July 25 deadline set by the R.I. Attorney General’s office looms for Steward Health Care to close its deal to acquire Landmark Medical Center of Woonsocket and its sister facility, the Rehabilitation Hospital of Rhode Island in North Smithfield. more
The state’s unemployment rate dropped to 10.9 percent in June, according to the Rhode Island Department of Labor and Training. more
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
Jewelry designer Alex and Ani LLC will open a professional development center in a Weybosset Street building it has purchased. The location will also house a new retail location will open in late August, CEO Giovanni Feroce told Providence Business News. more
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