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Banking & Finance

MassMutual's Crandall is ACLI chair

MassMutual CEO Roger W. Crandall was elected Monday chairman of the American Council of Life Insurers.

The Phoenix narrows 1Q red ink

The Phoenix Cos. Inc.’s delayed first-quarter financials show it narrowed its first-quarter loss to $33.3 million from the Hartford insurer’s $68.7 million loss the same quarter a year...

McGurk named CT state Regent

Gov. Dannel P. Malloy has appointed William J. McGurk to the state college system's Board of Regents.

People’s United’s 3Q net rises

The parent of People’s United Bank posted higher third-quarter net profit as a result of strong loan growth for the Bridgeport regional lender.

Index: Banking compliance costs rose sharply in 3Q

With a greater number of new regulations enacted during the third quarter, the average community bank spent an additional $45,264 to comply, according to New Haven’s Continuity Control.

Cytec profits jump 22 percent on broad revenue growth

Chemical manufacturer Cytec, which has operations in Wallingford, said its third-quarter profits increased by $9.8 million, thanks to revenue boosts across its various segments.

United Financial declares dividend

United Financial Bancorp, which earlier this year merged with Rockville Bank and relocated to Glastonbury, said it will pay a quarterly dividend of 10 cents per common share.

Webster posts record 3Q net

Gregory Seay |

Webster Financial Corp. widened its third-quarter net to its highest ever, as greater loan revenue and a rein on expenses boosted the Waterbury regional lender's bottom line.

State officials taking comment on controversial retirement plan

The state’s newly created Retirement Security Board is accepting public comment as it gears up to commission a feasibility study of a state-backed retirement plan for private-sector workers.

Black & Decker to pay dividend

New Britain manufacturer Stanley Black & Decker said it will pay a fourth-quarter dividend of 52 cents per common share.

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