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Banking & Finance

Northwest’s profit soars in the fourth quarter

Northwest Bancshares Inc., parent of Northwest Savings Bank branches in Monroe County, Tuesday reported its profit up 1,170 percent—but still missed Street expectations

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KeyCorp posts Q4 profit, tops expectations

KeyCorp, parent of KeyBank N.A. branches in the Rochester market, reported quarterly net income from continuing operations to common shareholders of $292 million, or 33 cents a share, surpassing Wall Street estimates of 13 cents.

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County review finds purchases at adult clubs

A review of Monroe County Airport Authority credit card purchases under former Director of Aviation David Damelio has disclosed $3,988 from five charges at New York City adult entertainment clubs, county officials said Friday.

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Impairment charge sends Bank of America to $1.2B loss

Bank of America Corp. lost $1.2 billion, or 16 cents a diluted share, in the fourth quarter, including a $2 billion impairment charge announced early this month, the bank reported Friday.

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JPMorgan Chase tops Street expectations for Q4

JPMorgan Chase & Co. on Friday topped Street expectations, reporting fourth-quarter earnings per share of $1.12 cents, 13 cents better than analysts projected.

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Role of managing partner evolves to include leadership

  Growth in the size and complexity of law and accounting firms has turned the position of managing partner into a leadership role once reserved for the chiefs of large businesses. "The role of the managing partner is essentially that ...

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In 2011, look for more moderate economic growth

At this time last year I talked about the decided change the economy was undergoing. The crushing blows of home, stock and business meltdowns in 2008 had given way to an orderly recovery by mid-2009. In 2010, that recovery continued. ...

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Advantage Federal Credit Union acquires 1st Priority

Advantage Federal Credit Union has acquired 1st Priority Federal Credit Union, which serves Rochester Institute of Technology employees and students, officials announced Monday.

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Mutual fund leader has national audience

As financial markets came unhinged in 2008, Anton Schutz gained near-celebrity status on TV business channels. "On average, I’m probably on CNBC, Fox Business or Bloomberg once a week," says the Honeoye Falls resident. "During the insanity of 2008, I ...

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Five Star Bank names new VP

Five Star Bank has appointed Terry Kelley to vice president and business banking officer, managing the bank’s commercial clients as their financial adviser and coordinating business development in the Rochester area, officials said Monday.

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First Niagara, NewAlliance shareholders OK merger

Shareholders at both banks Monday approved the $1.5 billion acquisition of NewAlliance Bancshares Inc. by First Niagara Financial Group Inc., officials said.

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Investment banker pitches plan to keep Bills in Buffalo

Investment banker Stevens Brady is trying an end run around NFL bylaws with a proposal designed to keep the Buffalo Bills from leaving town under new ownership. As reported in Friday's print edition of the Rochester Business Journal, Brady has devised a financial plan in which Bills fans could buy low-interest bonds that would serve as a loan to the team's next owner.

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Investment banker pitches Bills Bonds plan

  Investment banker Stevens Brady is trying an end run around National Football League bylaws with a proposal designed to keep the Buffalo Bills from leaving town under new ownership. Brady has devised a financial plan in which Bills fans ...

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