Daily business news in the Great State of New York!
GLENS FALLS, NY — Arrow Financial Corporation has decided to combine its banking subsidiaries, Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company, into one entity to be renamed Arrow Bank National Association (“Arrow Bank”). The announcement follows regulatory approval by the Office of the Comptroller of the Currency.Bank “Our […]
NEW YORK — Morgan Stanley said it will increase its quarterly common stock dividend to $0.925 per share from the current $0.85 per share, beginning with the common stock dividend expected to be declared by the Firm’s Board of Directors in the third quarter of 2024. In addition, the Firm’s Board of Directors reauthorized a […]
NEW YORK — HSBC has opened its new U.S. headquarters at The Spiral, a state-of-the-art office building in New York City’s Hudson Yards neighborhood, marking its largest U.S. relocation to date. This headquarter move, combined with investments in other offices across the country, reinforces HSBC’s position as a leading international bank with a commitment to […]
NEW YORK — JPMorgan Chase leaders and community partners cut the ribbon on a new Community Center branch in the Grand Concourse neighborhood of the Bronx. This branch, the second of its kind in the city, is built to expand access to banking, tools and advice to help customers get on a path to financial […]
NEW YORK — Chimney, a provider of interactive financial tools for banks and credit unions, now features over 30 banks across the country on the client roster. Using Chimney’s interactive financial tools, these banks offer personalized digital experiences that generate deposits, and drive new customer acquisition and expanded wallet share. Among the newest banks to […]
HAUPPAUGE, NY — Dime Community Bancshares, Inc., the parent company of Dime Community Bank announced the launch of Zelle for Business for the bank’s customers. Commenting on the launch of Zelle for Business, Michael Fegan, Chief Technology and Operations Officer at Dime said “We are very excited to launch Zelle for business today. It reinforces Dime’s […]
HICKSVILLE, NY — New York Community Bancorp has completed $1.05 billion of investments in the Company by Liberty Strategic Capital (“Liberty”), funds managed by Hudson Bay Capital Management, funds managed by Reverence Capital Partners, and other investors. Executive Chairman, President and Chief Executive Officer, Sandro DiNello stated, “The completion of this major equity raise demonstrates […]
WASHINGTON—The Office of the Comptroller of the Currency (OCC) announced a $250 million civil money penalty against JPMorgan Chase Bank, N.A. (JPMC) related to deficiencies in its trade surveillance program. The Federal Reserve Board also issued an enforcement action against JPMorgan Chase & Co. and fined the firm approximately $98.2 million for an inadequate program […]
Berkshire Hills Bancorp — a Boston-based financial company — announced that its subsidiary Berkshire Bank has entered into agreements with three buyers to sell 10 of its upstate and eastern New York branches, consisting of eight offices in Albany, Saratoga, Schenectady and Columbia counties, one office in Whitehall and one office in East Syracuse. The […]
Citigroup is cutting at least 286 jobs in New York City at its global headquarters according to WARN notices filed with the NYS Department of Labor. Reports in January said the company was planning to cut 20,000 jobs over the next two years. Citigroup employed 239,000 full-time workers at the end of December 31, 2023. […]
HICKSVILLE — New York Community Bancorp, Inc. and its subsidiary, Flagstar Bank, N.A., announced it has completed the operational conversion of its systems and national rebranding to Flagstar—further integrating the Company as one bank and one team. Clients are now unified under a single platform, which includes access to enhanced online and mobile banking tools, […]
BUFFALO — The M&T Charitable Foundation, the philanthropic arm of M&T Bank, has awarded $8.2 million in donations to 68 nonprofit organizations across New England and Long Island and Rockland County New York. The announcement is the second round of giving as part of the company’s Amplify Fund grant, a commitment by M&T Bank to […]
NEW YORK — JPMorgan Chase, the nation’s largest bank, announced new and increased responsibilities for a number of key executives. Jennifer Piepszak, Co-Chief Executive Officer of Consumer and Community Banking (CCB), and Troy Rohrbaugh, Co-head of Markets and Securities Services, will become Co-CEOs of the expanded Commercial & Investment Bank, which will bring together our major wholesale businesses […]
NEW YORK — Financial services firm Morgan Stanley has announced the appointment of 155 Managing Directors for 2024. This number is down from 184 promoted to Managing Director last year. Morgan Stanley provides a wide range of investment banking, securities, wealth management and investment management services. The new Managing Directors at the company for 2024 […]
TARRYTOWN, NY — KeyBank is making 20 charitable donations through its KeyBank Foundation, the bank’s charitable foundation to nonprofit organizations throughout the Hudson Valley and Metro New York area. The gifts focus support to address homelessness, financial literacy, education, workforce development, minority small business development, and more. The charitable donations total $385,000 and are part of KeyBank’s community […]