Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

Southern Tier 8 Regional Board pursues federal funding to connect homes to the internet
BINGHAMTON, N.Y. — The Southern Tier 8 Regional Board is pursuing a $22 million federal grant to connect nearly 900 homes to high-speed fiberoptic broadband

Clarkson University to host inaugural technology showcase and competition Tuesday at Turning Stone
VERONA, N.Y. — Clarkson University will host its inaugural technology showcase and competition on Tuesday afternoon from 4 p.m. to 7 p.m. at Turning Stone

CenterState CEO recognizes area Economic Champions, JMA Wireless
CenterState CEO also presented its Community Visionary Award to JMA Wireless for “embodying a vision of economic opportunity, and for its work to create a

Oneida County announces plan to administer COVID-19 vaccine to kids aged 5-11
UTICA, N.Y. — The Oneida County Health Department will start administering COVID-19 vaccine to kids aged 5-11 beginning Tuesday at its Utica Health Clinic. The

U.S. Air Force awards PAR subsidiary largest contract in company history
ROME, N.Y. — The U.S. Air Force has awarded PAR Government Systems Corp. a nearly $500 million contract for counter-small unmanned aircraft system (C-sUAS) software,

People news: MVHS adds new radiation oncologist to cancer center
UTICA, N.Y. — Dr. Hsin Kwung Li has recently joined the Mohawk Valley Health System (MVHS) Cancer Center as a radiation oncologist, where he provides

McMahon outlines vaccination plan for kids ages 5-11
SYRACUSE, N.Y. — Parents of children ages 5 to 11 who want to get their kids a COVID-19 vaccination will have a few options for
Lockheed Martin Owego wins $22M Army contract for foreign-military sales
OWEGO, N.Y. — Lockheed Martin Rotary and Mission Systems in Owego recently won a more than $22 million contract from the U.S. Army to provide military equipment to three foreign armed services. The firm-fixed-price contract is for the production and delivery of modernized-radar frequency interferometer hardware components in support of foreign-military sales partners India Army,
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OWEGO, N.Y. — Lockheed Martin Rotary and Mission Systems in Owego recently won a more than $22 million contract from the U.S. Army to provide military equipment to three foreign armed services.
The firm-fixed-price contract is for the production and delivery of modernized-radar frequency interferometer hardware components in support of foreign-military sales partners India Army, Morocco, and Netherlands, according to an Oct. 29 contract announcement from the U.S. Department of Defense.
Contract bids were solicited via the internet with one received. Work locations and funding will be determined with each order, with an estimated completion date of Dec. 1, 2023, per the contract announcement. The U.S. Army Contracting Command in Redstone Arsenal, Alabama was the contracting authority.

KeyCorp’s Q3 profit jumps 55 percent, beats analysts’ expectations
KeyCorp (NYSE: KEY) recently reported that its net income in the third quarter increased 55 percent to $616 million, or 65 cents per share, from $397 million, or 41 cents, in the year-ago period, driven by strong revenue growth, especially fee-based income. KeyCorp — based in Cleveland, Ohio — is parent of KeyBank, which ranks
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KeyCorp (NYSE: KEY) recently reported that its net income in the third quarter increased 55 percent to $616 million, or 65 cents per share, from $397 million, or 41 cents, in the year-ago period, driven by strong revenue growth, especially fee-based income.
KeyCorp — based in Cleveland, Ohio — is parent of KeyBank, which ranks No. 2 in deposit market share in the 16-county Central New York region.
Key’s earnings per share this quarter easily beat the consensus analyst estimate of 57 cents, according to Zacks Equity Research.
The banking company generated record total revenue of $1.82 billion in the third quarter, up 8 percent from the year-prior quarter. That topped the Zacks estimate of $1.76 billion. Key’s noninterest income was up 17 percent in the third quarter compared to the same quarter in 2020.
KeyCorp completed $593 million worth of repurchases of its common stock in the latest quarter.

NBT Bancorp boosts quarterly dividend by nearly 4 percent
NORWICH, N.Y. — NBT Bancorp Inc. (NASDAQ: NBTB) recently announced that its board of directors has approved a cash dividend of 28 cents per share for the fourth quarter. The payment is unchanged from the last quarter but up by 3.7 percent from 27 cents a share in the fourth quarter of 2020. The Norwich–based
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NORWICH, N.Y. — NBT Bancorp Inc. (NASDAQ: NBTB) recently announced that its board of directors has approved a cash dividend of 28 cents per share for the fourth quarter.
The payment is unchanged from the last quarter but up by 3.7 percent from 27 cents a share in the fourth quarter of 2020.
The Norwich–based banking company will pay the dividend on Dec. 15, to shareholders of record as of Dec. 1. The dividend represents a yield of about 3.05 percent based on NBT’s current stock price.
NBT Bancorp also reported that its net income rose 6.6 percent to $37.4 million in the third quarter from $35.1 million a year prior. The increase was primarily due to changes in the estimated impact of the COVID-19 pandemic on expected credit losses. The banking company’s earnings per share rose almost 7.5 percent to 86 cents in this year’s third quarter from 80 cents in the third quarter of 2020.
NBT Bancorp is a financial holding company with total assets of $12 billion as of Sept. 30. The banking company primarily operates through NBT Bank, N.A. — a full-service community bank with 140 branches in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine, and Connecticut — and through two financial-services companies: EPIC Retirement Plan Services and NBT Insurance Agency.
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.