Please ensure Javascript is enabled for purposes of website accessibility
Home / Industry / Banking & Finance (page 20)

Banking & Finance

Many banks close lobbies; Cuomo plan to offer mortgage and fee relief

A growing number of local banks and other financial institutions have closed their lobbies to most in-person visits in light of the COVID-19 pandemic. Meanwhile, Gov. Andrew M. Cuomo Thursday announced steps he plans to take to alleviate some financial ...

Read More »

Downturn for hotels likely to be steep (access required)

The hotel industry, already slammed hard by the coronavirus pandemic, will be forced to endure an even steeper nosedive of occupancy rates and revenue in the coming weeks. But even when the health crisis subsides in the United States, hoteliers ...

Read More »

Lawsuits by lenders allege Masaschi, associates owe $30 million (access required)

Two more private lenders have filed suit against developer Tom Masaschi, his partner in DHD Ventures and the various limited liability companies they created when they financed a host of local and out-of-state projects. The latest suits — coupled with ...

Read More »

Upstate economy slowing even before virus, says M&T’s Keith

The Upstate New York economy was already showing signs of a slowdown before the pandemic showed up. M&T Bank’s economist Gary Keith had prepared a presentation on the Upstate New York economy for for Upstate Capital members in Buffalo Thursday ...

Read More »

The new name in non-traditional business lending: Pursuit (access required)

Business borrowers who need to seek loans outside of traditional banks now have a single source: Pursuit. Pursuit is the new name for the New York Business Development Corporation and two nonprofit affiliates, The 504 Company and the Excelsior Growth ...

Read More »

ESL’s Masood named to Federal Reserve’s advisory council (access required)

Faheem Masood, president and CEO of ESL Federal Credit Union, has been named to the Federal Reserve Board’s Community Depository Institution Advisory Council. The national council provides input to the Federal Reserve Board on the economy, lending conditions and other ...

Read More »

Paychex, ESL and ConServe lauded for training programs again (access required)

Three local companies have landed once again on Training magazine’s 2020 list for Training Top 125 Organizations. The companies are: Paychex, the company that provides human resources, payroll and other services to business, ranked No. 14. It was No. 12 ...

Read More »

Community Bank will lay off some Steuben Trust workers as they merge (access required)

As Community Bank takes over Steuben Trust Co. and eliminates duplication in some areas, it expects to lay off 39 Steuben Trust Co. workers. Community, based in Dewitt, Onondaga County, plans to close three Steuben branches in communities where both ...

Read More »

Five Star Bank will add two branches in Buffalo (access required)

Five Star Bank is planning to expand further into the Buffalo market and has just won federal and state approval for two more branch offices in the Queen City. Five Star currently has a downtown Buffalo office and others in ...

Read More »

Citizens Bank funding local affordable housing project (access required)

Citizens Bank has issued an $8.7 million loan to help create 41 new units of affordable housing in the city of Rochester. The project, Jefferson Wollensack LLC and sponsored by the Urban League of Rochester, will convert the former Wollensack ...

Read More »

Accounting firm leader brings his best to work with clients, employees (access required)

Mark Kovaleski and Tom Rogers have known each other for some time and in different settings. Kovaleski’s firm has provided accounting services to two companies that Tom Rogers has worked for and both served on the same charitable board. But the ...

Read More »

Housing positives: Fewer underwater properties, more equity-rich homeowners (access required)

The number of mortgaged homes considered to be seriously underwater fell significantly in Monroe County in 2019, a sign of an improved economy as well as wiser lending practices and more prudent borrowing since the housing crisis. Just 3.3 percent ...

Read More »

Five Star and Lyons National both post record statements (access required)

Two locally owned bank corporations–Five Star Bank and Lyons National Bank–experienced record-breaking income in the final quarter of 2019. The two represent the seventh and eighth largest banks in the Rochester Metropolitan area by local deposits, though both have deposits ...

Read More »

Housing industry optimistic despite inventory shortage (access required)

A still-strong economy, positive employment numbers and continuing low mortgage rates give M&T Bank regional economist Gary Keith reasons to be optimistic about the housing industry in 2020. But the likelihood of even more state-mandated regulations has home builders concerned. ...

Read More »