Rhode Island

The Rhode Island institution's next CEO has led lending operations at nearby Navigant Credit Union since 2017.

Some states aren't waiting on the Federal Reserve to help with the historic hits to their budgets. Instead, they're working with a lender that they have a much longer history with: Bank of America.

The Rhode Island-based credit union also returned a patronage dividend to members for the 31st consecutive year.

The Massachusetts savings bank will gain branches in two communities as part of the acquisition.

Here's one way community banks are trying to win over commercial clients and wealthy households: by sharing internal research with them and positioning themselves as experts on everything from business sentiment to demographics.

Washington Trust warned that it could lose $3 million in annual revenue after two top advisers left to join a brokerage firm. Other banks are facing similar hits.

Centreville Bank will pay $116 million in cash for PB Bancorp.

Sean Daly, the Middletown, R.I.-based institution's CFO, will take over as president and CEO when Ellen Ford steps down in November.

More businesses are considering moving away from cash and checks, according to a recent survey by Citizens. That should be a wake-up call to smaller institutions, said Michael Cummins, who oversees treasury solutions at the regional bank.

The Rhode Island-based institution also finished building a 27,000-square-foot operations center and branch.

Ronald McLean, who is chief engagement officer at the New York Credit Union Association, will take over at CCUA next month.

After a nearly $100,000 loss in 2018, $30 million-asset Alliance Blackstone Valley Federal Credit Union is set to merge into Rhode Island CU and its network of branches across the state.

The $180 million acquisition is the first for Berkshire since the sudden departure of CEO Michael Daly.

Clarfeld Financial Advisors will become a division of Citizens Bank Wealth Management.

The Providence, R.I., company reported a 27% gain in profits thanks partly to a boost in fee income from its purchase of Franklin American Mortgage in August.

Once a hotbed of activity, the region has reported the fewest bank mergers since the financial crisis.

As other banks de-emphasize mortgage lending, Citizens is spending half a billion dollars to buy a large originator with a big servicing portfolio.

The company will snag its first branches in three towns in Connecticut and Rhode Island after buying locations from Webster Financial.

Citizens Financial Group plans to merge its two banking charters into a single national bank. The move would make the OCC the bank's primary regulator and eliminate the costs of dealing with the FDIC and state officials.

The company's deal for Coastway Bancorp in Rhode Island makes sense since both institutions are former credit unions.