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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
DiNapoli proposes bill to strengthen ethics rules for state contractors
A proposed bill would help ensure that contractors conducting business with New York state agencies are held to “high ethical standards” while performing important governmental
NBT Bancorp core net income rises 29 percent in first quarter
NORWICH — NBT Bancorp Inc. (NASDAQ: NBTB) reported that its core net income (excluding net securities gains, merger related expenses, and other items) rose to
First Niagara promotes Burton to senior vice president
ROCHESTER — First Niagara Financial Group, Inc. has promoted Craig Burton to senior vice president of commercial real-estate lending. Burton is the team leader for
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