Peoples Heritage Financial Group of Portland, Maine, said Monday that
The $9.8 billion-asset banking company said the deal for the property
The acquisition of Catalano, which has six offices in northeastern
With Catalano serving the same area as Peoples' subsidiary Family Bank,
But Catalano is just a part of the bank's more ambitious plans for
Catalano, with premiums of $21 million last year, will retain its name
Morse, purchased by Peoples last October, has about $120 million in
Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
For the better part of the past decade, the Federal Reserve Board in Washington has played a more active role in presidential searches by regional reserve banks. The shift seems to have made the system more diverse, but some argue it's at the expense of regional bank independence.
Beth Johnson, a self-described math geek, is driving the bank's ESG strategy and training its employees to keep pace with industry trends.
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
