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VIEWPOINT: The Death of the 60-40 Portfolio has been Exaggerated
The financial markets are off to a rough start in 2022. Through May 31, the S&P 500 equity index posted a -12.21 percent return while the Aggregate Bond Index returned -8.47 percent. So much for diversification. Simple math shows that the classic 60-40 asset-allocation portfolio’s return is a poor -10.74 percent. Many are using this negative […]
CEO FOCUS: Tech Garden Expansion Continues Investment in Innovation Ecosystem
Central New York’s innovation ecosystem is thriving. The region has built on its historic legacy of entrepreneurship, following more than a decade of investment and strategic programming, creating a place where innovators can turn their vision into viable companies. We see this progress in the fact that per-capita capital investments were a mere $27 in 2000-2010,
Brown & Brown acquires finance and insurance provider to auto, powersport dealers in New York state
Brown & Brown, Inc. (NYSE: BRO), the Florida–based parent of Syracuse–based Brown & Brown Empire State, announced it has acquired “substantially all of the assets” of Dealer Specialties Group Corp. Dealer Specialties is a Saratoga Springs–based independent sales and service organization providing finance and insurance (F&I) products and sales support to automotive and powersport dealers,
Five Star Bank parent company to pay next quarterly dividend in early July
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced that its board of directors has approved a quarterly cash dividend of 29 cents per common share outstanding. The banking company will pay the second-quarter dividend on July 5, to shareholders of record on June 17. It is the same
KeyCorp to pay Q2 dividend of 19.5 cents in mid-June
KeyCorp (NYSE: KEY) — parent of KeyBank, the No. 2 bank ranked by deposit market share in the 16-county Central New York area — has declared a quarterly cash dividend of 19.5 cents per share of its common stock for the second quarter. The dividend is payable on June 15, to holders of record as
Community Bank System declares dividend of 43 cents a share for July payment
DeWITT, N.Y.— Community Bank System, Inc. (NYSE: CBU) announced that it has declared a cash dividend of 43 cents a share on its common stock for the second quarter. The dividend will be payable on July 11 to shareholders of record as of June 15. The quarterly payment represents an annualized yield of about 2.7
Strategic Financial focuses on employees to drive growth
UTICA,N.Y. — Taking the helm of a business started by your father can be a daunting prospect. It’s a role that Alan Leist III, CEO of Strategic Financial Services — founded by his father Alan Leist, Jr, in 1979 — takes very seriously, honoring both the responsibility and the privilege the position has afforded him.
State to conduct study on payroll-servicing industry after MyPayrollHR scandal
The New York State Department of Financial Services (DFS) will conduct a study on the payroll servicing industry following the MyPayrollHR scandal, which caused “major financial disruptions for workers and small businesses.” The office of Gov. Kathy Hochul on May 6 said she has signed a bill requiring the study. DFS, in consultation with the New
PAR’s strong Q1 revenue offset by operating costs
NEW HARTFORD, N.Y. — Last year’s acquisition of loyalty and guest-engagement platform Punchh paid off in double-digit sales growth in the first quarter of 2022 for PAR Technology Corp. (NYSE: PAR), but a number of factors still led to an overall net loss in the period. PAR revenue increased 47.4 percent to $80.3 million in
Community Bank wraps up Elmira Savings acquisition
DeWITT, N.Y. — The acquisition of Elmira Savings Bank by Community Bank System, Inc. (NYSE: CBU) does more than just add branches to its Community Bank, N.A. unit. The purchase brings a broader and deeper set of services to bank customers, says Mark E. Tryniski, president and CEO of Community Bank System, which is based
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