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Banking & Finance

Aug 12, 2011

Local mutual funds see gains in second quarter

Most of the 35 locally managed mutual funds edged upwards in the second quarter, including all 20 bond funds under the auspices of OppenheimerFunds Inc.’s Rochester division. Of the local funds, 27 had positive returns for the quarter.   The Oppenheimer AMT-Free Municipals set the pace with quarterly returns of 8.2 percent. The Rochester National […]

Aug 10, 2011

Northwest Bancshares plans buyback of 5 million shares

Northwest Bancshares Inc., parent of Northwest Savings Bank in the Rochester market, has authorized the repurchase of some 5.15 million shares of the company’s stock, or some 5 percent of total shares, officials announced Wednesday.

Aug 9, 2011

First Niagara launches annual mentoring program

First Niagara Financial Group Inc. launched its fifth annual Mentoring Matters program Tuesday, with $500,000 available statewide for non-profit organizations dedicated to mentoring.

Aug 5, 2011

Few branches to close here

First Niagara Financial Group Inc. president and CEO John Koelmel anticipates minimal branch closings in the Rochester market as a result of the acquisition of 36 HSBC Bank USA N.A. offices here.   "I do think there are probably a few in Rochester," he said this week. "But our objective is to keep as many […]

Jul 25, 2011

Northwest Bancshares second-quarter profits decline

Northwest Bancshares Inc., parent of Northwest Savings Bank in the Rochester market, on Monday reported quarterly net income of $15.0 million, or 15 cents a diluted share, down 7 percent from a year earlier and a penny less than Wall Street estimates.

Jul 21, 2011

First Niagara beats Q2 expectations

First Niagara Financial Group Inc. on Thursday reported quarterly net income of $13.6 million, or 5 cents a share, down 32 percent from the second quarter 2010.

Jul 20, 2011

Tompkins Financial reports rise in earnings

Tompkins Financial Corp. on Wednesday reported record quarterly net income in its second quarter.

Jul 20, 2011

Bank of America gives $1 million to NeighborWorks

NeighborWorks Rochester is getting $1 million from Bank of America Corp. to expand its affording lending program for home repairs and energy-efficiency upgrades in Monroe County, officials announced Wednesday.

Jul 20, 2011

M&T profits up 71% in second quarter

M&T Bank Corp. on Wednesday reported its net income rose 71 percent in the second quarter.

Jul 19, 2011

Q2 net income soars at KeyCorp

KeyCorp, the Cleveland-based parent of KeyBank N.A. branches in the Rochester market, Tuesday reported a big jump in second-quarter profit.

Jul 19, 2011

Bank of America posts $8.8 billion loss in Q2

Bank of America Corp., which ranks seventh in the Rochester market in local deposits, reported it lost $8.8 billion in the second quarter because of mortgage-related issues.

Jul 18, 2011

Canandaigua National seeks
4-for-1 stock split

Canandaigua National Corp. is proposing a 4-for-1 split of the bank’s common stock to increase its authorized shares to 20 million and its authorized common shares to 16 million.