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M&T Bank Corp. adds Hearst executive to board
M&T Bank Corp. (NYSE: MTB) recently announced that it has added Carlton J. Charles, senior VP of treasury and risk management at Hearst, to its board of directors. Upon his election, effective Jan. 18, Charles was appointed as a member of the nomination and governance committee of M&T’s board. He was also elected to the […]
VIEWPOINT: Retirement Planning has Changed Again with SECURE Act 2.0
In 2019, Congress passed and President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The intent of this law was to improve the way businesses provide retirement benefits to employees. In 2022, some long-awaited changes to the original act were introduced, and what is now known as SECURE
State pension fund posts 4.5% return in latest quarter
ALBANY, N.Y. — The estimated value of the New York State Common Retirement Fund hit $242.3 billion at the end of the state’s 2022-2023 fiscal third quarter. For the three-month period ending Dec. 31, 2022, the fund’s investments returned an estimated 4.51 percent, the office of New York State Comptroller Thomas DiNapoli announced Feb. 10.
KeyBank using Blend platform for digital mortgage applications
KeyBank recently announced it is using a software platform provided by Blend (NYSE: BLND) that digitizes the end-to-end mortgage-application process for clients looking to purchase or refinance a home. San Francisco, California–based Blend provides a cloud-based banking platform to “streamline workflows and transform banking experiences for their customers,” per the Blend website. With the use
Greater Binghamton Chamber releases 2023 economic outlook
BINGHAMTON, N.Y. — The Greater Binghamton Chamber of Commerce held its annual Economic Forecast and Building BC Awards event on Tuesday. Peter Kneis, senior VP
People news: Adirondack Bank promotes Pellegrino to EVP
UTICA, N.Y. — Adirondack Bank announced it has promoted Elizabeth A. Pellegrino to executive VP and chief credit officer. Pellegrino started with the bank in
Lockheed Martin to pay dividend of $3 per share in late March
The Lockheed Martin Corp. (NYSE:LMT) board of directors has authorized a first-quarter, 2023 dividend of $3 a share. The dividend is payable on March 24, to holders of record as of the close of business on March 1. The payment is the same amount that the company paid in the fourth quarter, when it boosted the
NBT earnings dip slightly in Q4 and full 2022 year
NORWICH, N.Y. — NBT Bancorp, Inc. (NASDAQ: NBTB), parent company of NBT Bank, closed out a challenging year of volatile interest rates and weak stock and bond markets with a slight drop in profit for the year and final quarter. But the banking company is optimistic about the year ahead. NBT, which ranks No. 3
Five Star Bank expands to Syracuse with loan office
Five Star Bank’s Syracuse office will be home to a three-person commercial and industrial team led by Alison Miller, the bank’s Central New York regional president and commercial and industrial executive. It’ll also be home to a commercial real-estate banker who will report to Craig Burton, the bank’s Finger Lakes/Southern Tier regional president and commercial
Burnout hitting consumer confidence, KeyBank survey finds
The KeyBank 2023 Financial Mobility Survey, released Jan. 9, finds Americans are in a “difficult” financial position as 55 percent faced financial challenges over the past year. The finding represents a “substantial” increase from the year prior (37 percent), with more than double the number of respondents saying their biggest financial faux pas involved budgeting issues
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