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Siena survey: New York real-estate sentiment ‘strong’
New York state consumers’ assessment of the real-estate market remains “strong” and they expect further growth in property values. That’s according to Donald Levy, director of the Siena (College) Research Institute (SRI), which released its latest survey report of consumer real-estate sentiment in the Empire State on April 17. “Looking back over the last year, […]
Chase creates new upstate market, names market leader
SYRACUSE — JPMorgan Chase Bank recently reunited upstate communities into its new upstate New York market and tapped William Dehmer to lead the new market. The commercial banking middle market region combines seven markets — Albany, Syracuse, Rochester, Buffalo, Elmira, Western New England, and Northern Pennsylvania. The move makes sense for a number of reasons,
Chase business leaders survey shows optimistic outlook
The 2014 Chase Business Leaders Outlook shows increased optimism from U.S. and New York business leaders, which should translate into an equally optimistic outlook for the banking industry, the banking company says. Chase surveyed 3,500 business leaders and found that 73 percent of middle market companies (those with annual revenue between $20 million and $500
When Erna talks, people listen
“When E. F. Hutton talks, people listen.” — 1980’s advertisement tag line. ONEONTA — News flash from the Spectrem Group, an Illinois–based investor research and consulting firm: Total millionaire households in the U.S. jumped during 2013 to more than 9.6 million. That’s an increase of more than 600,000, or nearly 7 percent, over the previous
Editor’s note: The Investment Q&A feature appears regularly in the Banking & Wealth Management special reports of The Central New York Business Journal, spotlighting area investment professionals and their views on the financial markets and investments. In this issue, Alan Leist provides his outlook. Alan R. Leist III, CFA, chief investment officer at Strategic Financial
First Niagara CFO: No current plans to consolidate more branches
Following first-quarter earnings that were reduced by charges related to recent branch closures, First Niagara Financial Group’s chief financial officer, tells The Business Journal News Network, the banking company is not planning to close any more branches at this time. “We don’t have any current plans to consolidate more branches,” Gregory W. Norwood, CFO, says
Tompkins Financial profit rises 9 percent in first quarter
ITHACA — Tompkins Financial Corp. (ticker symbol: TMP) reported that its net income rose more than 9 percent to $12.6 million in the first quarter from $11.5 million in the year-ago quarter. The Ithaca–based banking company’s earnings per share rose over 6 percent to 84 cents in the first quarter from 79 cents a year
NY Estate Tax Update Creates Estate Planning Challenges
Legislation that went into effect on April 1 makes broad changes to New York’s estate and gift tax laws, as well as certain trust-income tax rules. Although these estate-tax changes were intended to make New York a less expensive state in which to die, they could have a significant impact on some estate plans currently
PAR Technology net loss widens in first quarter
NEW HARTFORD — PAR Technology Corp. (NYSE: PAR) today reported a net loss from continuing operations of $989,000, or 6 cents per share, in the
Tioga State Bank promotes Moraczewski to electronic banking VP
SPENCER, N.Y. — Tioga State Bank has promoted Jennifer Moraczewski to vice president of electronic banking and deposit operations. She is responsible for transaction processing
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