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Excellus reports 50 percent drop in net income in 2022
ROCHESTER, N.Y. — Excellus BlueCross BlueShield, Central New York’s largest health insurer, reported net income of $58.9 million on $6.6 billion in premium revenue in
N.Y. manufacturing index rises but still shows contraction
General business-conditions index up 27 points to -5.8 in February New orders declined modestly, and shipments held steady as the general business-conditions index of the Empire State Manufacturing Survey climbed 27 points in February to -5.8. The index had fallen 22 points to -32.9 in January, representing its lowest level since mid-2020 and the fifth worst
Maine woman faces 67 charges for thefts from area Empower FCU branches
NORTH SYRACUSE, N.Y. — State Police in North Syracuse arrested a Portland, Maine woman on Feb. 16 on 67 charges for allegedly stealing nearly $20,000
MVHS awarded $150,000 Excellus grant for pregnancy program
UTICA, N.Y. — Mohawk Valley Health System’s (MVHS) CenteringPregnancy program has received a $150,000 Member and Community Health Improvement (MACHI) grant from Excellus BlueCross BlueShield to help improve maternal health and health equity. MVHS says it offers the area’s only licensed CenteringPregnancy program, which brings eight to 10 women, all due at the same time,
NBT Bank to move CNY regional HQ to The Post later this year
SYRACUSE, N.Y. — NBT Bank says it is planning to move its Central New York regional headquarters to The Post building later this year. The Post is the rebranded name of the building that was formerly home to The Post-Standard newspaper, which VIP Development Associates, the development arm of VIP Structures, is renovating into its
SECURE 2.0 Act brings changes to retirement planning
SYRACUSE — Passed at the end of 2022, the SECURE 2.0 Act contains many new benefits for employers as well as employees in hopes of boosting retirement savings across the country. The act (formally known as the Consolidated Appropriates Act of 2023 (HR 2617) builds upon the 2019 SECURE Act with about 90 provisions that
KeyCorp to pay Q1 dividend in mid-March
KeyCorp (NYSE: KEY) — parent of KeyBank, the No. 2 bank ranked by deposit market share in the 16-county Central New York area — has declared a quarterly cash dividend of 20.5 cents per share of its common stock for the first quarter. The dividend is payable on March 15, to holders of record as of the
M&T Bank Corp. adds Hearst executive to board
M&T Bank Corp. (NYSE: MTB) recently announced that it has added Carlton J. Charles, senior VP of treasury and risk management at Hearst, to its board of directors. Upon his election, effective Jan. 18, Charles was appointed as a member of the nomination and governance committee of M&T’s board. He was also elected to the
VIEWPOINT: Retirement Planning has Changed Again with SECURE Act 2.0
In 2019, Congress passed and President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The intent of this law was to improve the way businesses provide retirement benefits to employees. In 2022, some long-awaited changes to the original act were introduced, and what is now known as SECURE
State pension fund posts 4.5% return in latest quarter
ALBANY, N.Y. — The estimated value of the New York State Common Retirement Fund hit $242.3 billion at the end of the state’s 2022-2023 fiscal third quarter. For the three-month period ending Dec. 31, 2022, the fund’s investments returned an estimated 4.51 percent, the office of New York State Comptroller Thomas DiNapoli announced Feb. 10.
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