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NBT Bank profit rises 15 percent in fourth quarter
NORWICH, N.Y. — NBT Bancorp, Inc. (NASDAQ: NBTB) recently reported that its net income rose more than 15 percent to $34.2 million, or 78 cents a share, in the fourth quarter from just under $29 million, or 66 cents, in the year-ago period. Higher net interest income and a lower provision for loan losses, partly […]
VIEWPOINT: NYS DOL Indefinitely Cancels Unemployment-Insurance Charges
On Jan. 14, 2021, New York State Department of Labor (DOL) Commissioner Roberta Reardon signed an order to temporarily modify the unemployment-benefit charging system and ease the burden for unemployment-insurance charges incurred by all employers during the COVID-19 pandemic. The order provides that all unemployment benefits paid out to claimants since March 9, 2020 will be charged
Tioga State Bank demolishing a Binghamton property for future development
BINGHAMTON, N.Y. — Tioga State Bank (TSB) announced that it recently began to demolish a property on the south side of Binghamton that the bank
Berkshire Bank to close Rome branch, consolidate with nearby office
ROME, N.Y. — Berkshire Bank announced it has decided to close its branch at 100 W. Dominick St. in Rome and consolidate it with its
VIEWPOINT: An Economic Outlook for 2021
This past year was an interesting one, to say the least. Although some may prefer to use other adjectives to describe 2020. COVID-19 provided a vast disruption of economic activity, with U.S. GDP declining 31.7 percent in the second quarter. However, the U.S. economy demonstrated remarkable resiliency and rebounded 32.7 percent in the third quarter. While the
VIEWPOINT: Rundown of Updated PPP Forgiveness Application Forms
Covers both first and second-draw loans The U.S. Small Business Administration (SBA) recently updated all versions of the PPP Loan Forgiveness Applications to reflect changes in the recent legislation. Borrowers who have yet to apply for forgiveness on their first-draw PPP loan should use these updated forms and consult with their lender. Some lenders are utilizing
SYRACUSE, N.Y. — A new report from CenterState CEO finds 39 percent of nearly 200 area companies surveyed expect an increase in jobs and hiring
M&T Bank says 85 percent of PPP loan applications are coming from repeat borrowers
SYRACUSE, N.Y. — M&T Bank Corp. (NYSE: MTB), the largest SBA lender and bank ranked by deposits in Central New York, says that so far
The Summit Federal Credit Union to close Camillus branch in Township 5
CAMILLUS, N.Y. — The Summit Federal Credit Union’s (FCU) branch located at Township 5 in Camillus will close at the end of business on Saturday,
How the SBA’s new round of PPP loans works
It started with community financial institutions The U.S. Small Business Administration (SBA) and U.S. Treasury Department on Jan. 11 reopened the loan portal for the Paycheck Protection Program (PPP), the forgivable-loan initiative that seeks to help small companies survive the economic dislocations of the COVID-19 pandemic. This round of the PPP authorizes up to $284 billion toward
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