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KeyCorp continues cost-cutting efforts
KeyCorp (NYSE: KEY) remains on track to cut $150 million to $200 million in annual expenses by December 2013. The Cleveland–based banking company’s plans include closing up to 5 percent of its nationwide branch-office network, reducing staffing levels, and examining its contracts with third-party vendors, Key leaders said during a conference call Oct. 18, discussing […]
HSBC names new new head of corporate banking for Upstate
HSBC’s remaining businesses in upstate New York lost a major signpost when the bank sold its retail branch network in the region earlier this year. “The branch network gave us great visibility,” says Kevin Quinn, HSBC senior vice president and the new head of corporate banking for upstate New York. “I think what we learned
Higher mortgage-banking revenue, more net interest income, and a lower provision for loan losses drove profit higher at M&T Bank Corp. (NYSE: MTB) in the third quarter. Expenses also fell in the period by 7 percent from a year earlier as the integration of Wilmington Trust Corp., which M&T acquired last year, is now complete. Profit
Earnings tumble at Oneida Financial after impairment
ONEIDA — Third-quarter earnings fell at Oneida Financial Corp. (NASDAQ: ONFC) as an asset impairment combined with a decrease in interest income and an increase
Q3 earnings slide at Alliance Financial
SYRACUSE — Third-quarter profit at Alliance Financial Corp. (NASDAQ: ALNC) fell more than 37 percent from a year earlier to $2.3 million, or 48 cents
Profit falls at Pathfinder Bancorp
OSWEGO — Net income available to common shareholders at Pathfinder Bancorp (NASDAQ: PBHC), the holding company for Pathfinder Bank, was $670,000 in the third quarter,
Profit at Berkshire Hills rises in third quarter
Net income at Berkshire Hills Bancorp, Inc. (NASDAQ: BHLB) rose to $10 million, or 46 cents a share, in the third quarter. That’s up from
Community Bank earnings drop after branch deal
DeWITT — Third-quarter profit slipped 8 percent at DeWitt–based Community Bank System, Inc. (NYSE: CBU) to $18.4 million, or 46 cents a share. Acquisition costs
Earnings fall at Tompkins Financial on acquisition costs
ITHACA — Acquisition costs of $8.4 million pushed profit lower at Tompkins Financial Corp. (NYSE Amex: TMP) in the third quarter. The Ithaca–based banking company
Third-quarter earnings slip at NBT as merger costs rise
NORWICH — NBT Bancorp, Inc., (NASDAQ: NBTB), which recently announced plans to merge with Alliance Financial Corp., saw its earnings drop in the third quarter,
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