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New York manufacturing index holds steady in June
The Federal Reserve Bank of New York reported today that its Empire State Manufacturing Survey general business-conditions index inched up 0.3 points to 19.3 in
EFC approves $5.27 million in low-cost financing to create wastewater system for Verona
VERONA — The board of directors of the New York State Environmental Facilities Corp. (EFC) recently approved and announced almost $5.27 million in zero-interest financing to the Town of Verona to construct a wastewater-collection system in one of its hamlets. The town is extending municipal-sewer service to the Hamlet of Verona in the southern portion
Mortgage lender Homestead Funding formally opens branch in Vestal
VESTAL — Homestead Funding Corp., an Albany–based licensed mortgage bank, today formally opened a new branch office in Vestal with a grand-opening event and ribbon
NBT Bank promotes Buffa to regional president
UTICA — NBT Bank has announced the promotion of John Buffa to regional president for the bank’s Mohawk Valley branches in Oneida and Herkimer counties.
New York State Bar Association names new executive director
ALBANY — The New York State Bar Association has named David R. Watson to serve as the next executive director of the 75,000-member association. Watson,
New York State Bar Association announces new executive-committee members
ALBANY — Eleven attorneys have been elected to the Executive Committee of the New York State Bar Association. The 30-member Executive Committee oversees the management
Miner: Standard & Poor’s upgrades Syracuse’s bond rating
SYRACUSE — Standard & Poor’s (S&P) has upgraded the bond rating for the city of Syracuse from A- to A with a stable outlook, an
NBT refinances $165M in long-term debt, will incur $17.1 million penalty in Q2 earnings
NORWICH— NBT Bancorp, Inc. (NASDAQ: NBTB) says it has refinanced about $165 million of long-term debt made up of Federal Home Loan Bank (FHLB) advances
CPC closes $12 million Freddie Mac mortgage on the Merchants Commons building
SYRACUSE — The Community Preservation Corp., Inc. (CPC) recently announced the closing of a more than $12 million Freddie Mac mortgage to support the Merchants Commons building at 220 S. Warren St. in Syracuse. Merchants Commons, a combination of the former Snow Building and Merchants Bank Building, includes 66 residential units and more than 34,000
The Economic Outlook & Implications for Monetary Policy
Although economic growth stalled in the first quarter, some slowing was expected and unseasonably harsh winter weather appears to have done the rest. The fundamental supports for a strengthening economy remain in place, and recent data seem to confirm that forecast. On the price front, I expect inflation to drift higher over the remainder of
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