New York

JPMorgan Chase will provide $75 million for the creation of a career and technical education program to address youth unemployment.

Costs associated with M&T Bank's successful but prolonged effort to buy Hudson City Bancorp pushed the Buffalo, N.Y., company's fourth-quarter profit lower.

Fundation Group, an online small-business lender, has hired an industry veteran as its first chief operating officer.

Tompkins Financial in Ithaca, N.Y., said that its Tompkins Insurance Agencies unit bought Shepard, Maxwell & Hale Insurance.

Several small banks are beginning to offer employer-based loans, a payday loan alternative for under-banked consumers.

Banks have made changes to overdrafts, such as lowering fees offering clearer explanations. They better, as the CFPB will soon offer new rules for overdrafts. Plus, overdraft revenue has declined at many banks. Still unanswered is the question of how to offer short-term credit, if overdrafts disappear.

KeyCorp in Cleveland will retain two First Niagara Financial Group executives after its acquisition of the Buffalo, N.Y., company closes.

A former M&T Bank executive was sentenced to 39 months prison time for leading a fraudulent scheme involving about $5.3 million in small-business loans.

The Federal Reserve extended the public comment period for KeyCorp's proposed $4.1 billion takeover of First Niagara Financial Group until Jan. 31, after a lawmaker said communities affected by the deal need to weigh in.

Suffolk Bancorp in Riverhead, N.Y., has hired Fiserv as core processor and it plans to record a $1.4 million charge to cover the vendor switch.

Another institution helped push New York Community Bancorp to add cash to its bid, a filing disclosed. While Astoria's board was concerned about NYCB's plans for an aggressive balance sheet restructuring and capital raise, management believed the other suitor's offer had more execution risk.

Sen. Charles Schumer, D-N.Y., has asked for more time for public comment on KeyCorp's proposed takeover of First Niagara Financial Group, and said more study is needed on the deal's potential economic impact on western New York.

Carver Bancorp in New York, like many community banks, seems to be back on track after surviving the financial crisis. But the company, and CEO Michael Pugh, have an new objective - figuring out how to stay relevant with younger customers.

The $3.4 billion-asset holding company for Five Star Bank received a letter on Wednesday from Clover Partners' managing director, Johnny Guerry, saying management has made the wrong decision on two recent deals. Clover owns about 5.2% of Financial Institutions.

Citigroup has appointed Ellen Costello, former BMO Financial chief executive, and Intel President Renee James to its board.

The $5.6 billion-asset multibank holding company hired Fontaine to replace Ed Hooks, who has been its counsel since 1992 and who will retire at the end of the year.

Associates of Glen Falls Insurance said that it bought Loomis & LaPann, an insurance unit of Arrow Financial that focuses on amateur sports, for an undisclosed price.

Webster Financial has agreed to take over the leases of 14 Citigroup branches in the Boston area, which would more than triple its retail presence there.

CIT Group will pay about $60 million in severance to 14 executives who have been dismissed or left the company, as it continues to shuffle its executive lineup following its August acquisition of OneWest Bank.

First Niagara Financial Group in Buffalo, N.Y., considered offers from four potential acquirers before deciding in late October to sell itself to KeyCorp.