New York

NEW YORK — It's a new day at Credit Union Journal, and along with that comes a vastly expanded and improved "Day in the Life of Credit Unions."

Though satisfying examiners remains a priority, their decisions about how and where to deploy resources are being mostly driven by the desire to meet customers' changing demands, according to a new survey from the advisory firm KPMG.

NBT Bancorp in Norwich, N.Y., reported a 63% rise in second-quarter earnings from a year earlier after selling partial ownership in Springstone Financial.

Shares for Sterling Bancorp in Montebello, N.Y., rose after the company posted stronger quarterly income tied to its merger with Provident New York Bancorp.

Bridge Bancorp in Bridgehampton, N.Y., reported higher quarterly earnings following the acquisition of FNBNY Bancorp earlier this year.

Covenant-Lite was a hot trend in 2007. It turns out that was just the beginning.

RYE, N.Y. — USAlliance Federal Credit Union has become the first North American financial institution to adopt the European in-branch Customer Relation Manager (CRM) kiosk solution, HappyOrNot.

First Niagara Financial Group in Buffalo, N.Y., reported higher quarterly profit after increased commercial and auto lending offset an rise in spending and a decline in fee income.

Financial Institutions in Warsaw, N.Y., the parent company of Five Star Bank, reported higher earnings along with strong loan and deposit growth.

EBay Inc.'s online ticket reselling unit StubHub was targeted by hackers who used stolen data to buy Elton John and Justin Timberlake tickets, Manhattan District Attorney Cyrus Vance Jr. said, as he announced six indictments in the case.

CEO Joe Ficalora says the thrift has ways it can buy time to announce a transformative acquisition or benefit from a change in the definition of what it requires to be a systemically important institution. With OneWest off the table, industry observers wonder if the thrift can find the deal it’s been looking for.

Fueled by strong growth in commercial real estate and specialty lending, Signature Bank in New York reported another record profit for the quarter that ended June 30.

Astoria Financial in Lake Success, N.Y., has agreed to sell certain nonperforming loans to Credit Suisse at a nearly $9 million loss.

Between the proposed virtual currency regulations in New York and those already established in Texas, the future of Bitcoin would be brighter if more states follow the Lone Star State's example, says one legal expert.

Arrow Financial (AROW) in Glens Falls, N.Y., posted higher quarterly earnings because of loan growth and an improved net interest margin.

RYE, N.Y. — USAlliance FCU has become the first North American financial institution to adopt the European in-branch Customer Relation Management (CRM) kiosk solution, HappyOrNot.

BROOKLYN, N.Y. — If community development or low-income-designated credit unions are forced to hold board seats for people of certain income classes, it would be counterproductive.

The plan was for Kang Gao to do his exit interview with Two Sigma Investments LLC, a $21 billion quantitative hedge fund in New York, and jump to Citadel LLC, a rival firm in Chicago.

Investors Bancorp (ISBC) in Short Hills, N.J., has broken ground on the first of four new branches it plans to open on Staten Island in New York City.

Security breaches exposing consumers' personal information are becoming larger and more frequent in New York, costing businesses more than $1.37 billion last year, the state attorney general's office said.