Get our email updates
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.
What's New
Upcoming Events
CNYBJ Job Board
Banks & Credit Unions
Chemung Financial profit slips in Q3 but up year to date
ELMIRA — Chemung Financial Corp. (ticker: CHMG) reported that its third-quarter net income fell in spite of the banking company’s expansion into the Albany market
Elmira Savings Bank Q3 net income rises 6 percent
ELMIRA — Elmira Savings Bank (ticker: ESBK) reported net income of $1.4 million, or 44 cents per share, in the third quarter, up from $1.3
Credit unions move toward video teller machines
Technology is pushing banks and credit unions into new territory, including the use of video teller machines. In a legal opinion, the National Credit Union Administration (NCUA) in August ruled that credit unions aren’t prohibited from using the machines, says Mark Harrington, an attorney with Syracuse–based law firm Mackenzie Hughes, LLP. Like any new technology
Ex-Im Bank official returns to Syracuse
SYRACUSE — Central New York could be importing a new source of financing for small and medium companies after a federal official’s recent visit. Wanda Felton, the vice chair and first vice president of the Export-Import Bank of the United States, spent the day in Syracuse Oct. 26 to meet with area businesses. Felton, who
Community Bank profit falls on acquisition costs
DeWITT — Third-quarter profit slipped 8 percent at DeWitt–based Community Bank System, Inc. (NYSE: CBU) to $18.4 million, or 46 cents a share. Acquisition costs totaling $4.8 million for the period, compared with $400,000 a year earlier, helped push earnings lower. Community Bank System has $7.6 billion in assets and more than 180 branches. The
First Niagara job cuts mostly spare Central New York
Job cuts announced in October at First Niagara Financial Group, Inc. (NASDAQ: FNFG) eliminated just a few positions in Central New York. The Buffalo–based banking company cut 180 positions across its four-state footprint, but just five of the jobs were located in Central New York, according to an email from David Lanzillo, a First Niagara
KeyCorp continues cost-cutting efforts
KeyCorp (NYSE: KEY) remains on track to cut $150 million to $200 million in annual expenses by December 2013. The Cleveland–based banking company’s plans include closing up to 5 percent of its nationwide branch-office network, reducing staffing levels, and examining its contracts with third-party vendors, Key leaders said during a conference call Oct. 18, discussing
HSBC names new new head of corporate banking for Upstate
HSBC’s remaining businesses in upstate New York lost a major signpost when the bank sold its retail branch network in the region earlier this year. “The branch network gave us great visibility,” says Kevin Quinn, HSBC senior vice president and the new head of corporate banking for upstate New York. “I think what we learned
Higher mortgage-banking revenue, more net interest income, and a lower provision for loan losses drove profit higher at M&T Bank Corp. (NYSE: MTB) in the third quarter. Expenses also fell in the period by 7 percent from a year earlier as the integration of Wilmington Trust Corp., which M&T acquired last year, is now complete. Profit
Earnings tumble at Oneida Financial after impairment
ONEIDA — Third-quarter earnings fell at Oneida Financial Corp. (NASDAQ: ONFC) as an asset impairment combined with a decrease in interest income and an increase
Get our email updates
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.