St. Mary's Bank has donated $100,000 to the Amoskeag Business Incubator in support of a $1-million capital campaign. The nation's first credit union said the money is to help support the Incubator's community economic development programs, fund the organization's move to a new location and begin an endowment. The Incubator assists small businesses by providing them with the tools, expertise and support services necessary to prosper. "Our efforts are very focused on the success of local businesses, and we see the Incubator's role in accelerating growth as essential to helping these businesses get off to a good start and thrive," said John Flanders, VP-business lending with the credit union. The Amoskeag Business Incubator offers access to affordable rent, shared utilities and Internet services and use of office administrative equipment. Tenants of the Incubator also receive advice from small business advisors from Southern New Hampshire University, the U.S. Small Business Administration.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
April 19 -
New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
April 19 -
According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
April 19 -
The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
April 19 -
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
April 19 -
The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
April 19