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New York manufacturing index climbs back into positive territory in July
The general-business conditions index of the Empire State Manufacturing Survey is back in positive territory for the first time since February, rising 22 points in
VIEWPOINT: Community Bank, Credit Union Strategies for Building Brand Reputation
Reputation is the cornerstone of trust in community banking, and it is essential for local banks and credit unions to maintain a positive, pristine reputation in their local communities. Here are a few ways to accomplish this critical goal: 1. Prioritize transparency and communication: Maintaining open communication with your community is vitally important, as it
United States Trustee Program closes Utica field office
UTICA, N.Y. — The United States Trustee Program closed its Utica field office on Tuesday, July 1, according to a notice from the U.S. Department of Justice posted on its website. The U.S. Trustee Program is responsible for overseeing the administration of bankruptcy cases and private trustees. The national program’s mission is to promote the
VIEWPOINT: Community Banks, Credit Unions Need to Market Local, Build Trust
Community banks and credit unions hold a unique position in the financial-services marketplace. As vital members of their local communities, these organizations serve an essential role in fostering economic growth, giving them an inside track in building and maintaining trust with their customers and members. However, the financial landscape is rapidly evolving. With changing demographics
M&T Bank buys naming rights for Mohawk Harbor Event Center in Schenectady
SCHENECTADY — M&T Bank Corp. (NYSE: MTB) recently announced it has secured the exclusive naming rights to the new state-of the-art events venue that Galesi Group is building in the heart of Mohawk Harbor in Schenectady. Situated along the waterfront of the revitalized Mohawk Harbor in Schenectady, the M&T Bank Center will become a regional
Community Bank announces acquisition of 7 Pennsylvania bank branches
DeWITT, N.Y. — Community Bank, N.A., a subsidiary of Community Financial System, Inc., (NYSE: CBU) announced it will acquire seven branches of Santander Bank, N.A. in Allentown, Pennsylvania. The deal also includes certain branch-related loans and deposits, and Community Bank will purchase related wealth-management relationships. Community Bank expects to assume about $600 million in deposits
Wolfspeed announces Chapter 11 bankruptcy plans
DURHAM, N.C. and MARCY, N.Y. — Wolfspeed, Inc. (NYSE: WOLF), which operates a facility in Marcy, announced plans to file for pre-packaged Chapter 11 bankruptcy
City of Syracuse, developer break ground on upcoming housing, retail project
SYRACUSE, N.Y. — Work is beginning on a new mixed-use development on Syracuse’s East side that’s located within walking distance of Syracuse University. Officials broke ground on the project, known as The Rosie, on Tuesday afternoon at 1301 E. Genesee St. in Syracuse. The Michaels organization of Camden, New Jersey joined the City of Syracuse
Canandaigua National Bank & Trust, which plans to expand to Syracuse area, announces rebrand
CANANDAIGUA, N.Y. — Canandaigua National Bank & Trust, which has plans to expand into the Syracuse area later this year, on Monday said it is
New York manufacturing activity declines for a fourth straight month in June
The Empire State Manufacturing Survey general business conditions index fell to -16.0 in June, with business activity in the sector declining for a fourth consecutive month. In the past few months, the index dipped to -9.2 in May after rising 12 points but remaining below zero at -8.1 in April. The index fell 26 points
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