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Insurance & Financial Services
Connecticut insurance company plans growth in New York
A Connecticut insurance agency is growing its presence across the Northeast, including in New York state. Hartford–based Smith Brothers Insurance, LLC, which has Empire State offices in Owego, Rensselaer, Vestal, and Waverly, recently acquired the assets of the Palmer Family Insurance Agency in Marathon (Cortland County) from third-generation owner Cassie Mauser. The deal, which closed […]
N.Y.’s small-group health premiums to rise 7.4% on average in 2024
Health insurers serving New York state’s small-group market will raise their premiums by 7.4 percent, on average, in 2024 after an initial request of an average 15.3 percent increase. It represents a cut of 52 percent by the New York State Department of Financial Services (DFS), saving small businesses $607 million, DFS said in an
Gilroy Kernan & Gilroy acquires the Burns Agency
NEW HARTFORD, N.Y. — The Burns and Gilroy families say Gilroy Kernan & Gilroy, Inc. (GKG) of New Hartford has acquired the Burns Agency of Clinton in a combination involving two insurance agencies that have served the Mohawk Valley for more than a century. The acquisition closed Aug. 18, and the Burns Agency will move
Carthage, Ogdensburg hospitals probe cyberattack
CARTHAGE, N.Y. — Carthage Area Hospital and Claxton-Hepburn Medical Center in Ogdensburg say their information technology (IT) teams worked through the weekend to stabilize all
Five Star Bank parent company to pay Q3 dividend of 30 cents a share in early October
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently announced that its board of directors has approved a quarterly cash dividend of 30 cents per common share outstanding. The banking company will pay the third-quarter dividend on Oct. 2, to shareholders of record on Sept. 14. At Financial Institutions’
Berkshire Bank’s parent company pays dividend for third quarter
Berkshire Hills Bancorp, Inc. (NYSE: BHLB) — parent company of Berkshire Bank, which has a significant presence in the Mohawk Valley area — recently announced that its board of directors has approved and paid a quarterly cash dividend of 18 cents a common share. The dividend was payable on Aug. 31, to shareholders of record
Visions FCU, SU launch new program for student veterans
SYRACUSE. N.Y. — Visions Federal Credit Union (FCU) is working with Syracuse University (SU) on a success program targeting student veterans. Visions FCU and SU’s
Community Bank System boosts dividend for Q3
DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) — parent company of Community Bank, N.A. — announced that it has declared a cash dividend of 45 cents per share on its common stock for the third quarter. The dividend will be payable on Oct. 10, to shareholders of record as of Sept. 15. The
Chemung Financial to pay Q3 dividend of 31 cents in early October
ELMIRA, N.Y. — Chemung Financial Corp. (NASDAQ: CHMG) announced that its board of directors has approved a quarterly cash dividend of 31 cents per share of its common stock. The banking company will pay the dividend on Oct. 2, to shareholders of record as of the close of business on Sept. 18. At Chemung Financial’s
NBT’s Q2 earnings dip, but outlook remains positive
NORWICH, N.Y. — NBT Bancorp, Inc. (NASDAQ: NBTB) closed out the second quarter of 2023 with about a 20 percent decline in profit amid a volatile market, but banking-company executives expressed a positive outlook for the remainder of the year. NBT reported that net income fell to $30.1 million, or 70 cents a share, in
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