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Banking & Finance

Simsbury Bank parent's 3Q net soars

Simsbury Bank & Trust Co.'s parent more than doubled its third-quarter net as strong commercial lending and retail banking overcame softness in its home-mortgage operations, which gained steam in the...

Cigna profits dip, but beat estimates

Bloomfield health insurer Cigna said its third-quarter profits dipped by $19 million, or 3.4 percent, partly due to the exit of its limited-benefits business, which is no longer allowed under...

United Financial wraps latest stock buyback

The parent of Glastonbury lender United Bank has completed and closed an existing stock buyback program, opening the door for United Financial Bancorp Inc. to officially begin buying up shares in a...

Wells Fargo widens Michelle Lee’s turf

Michelle Lee, Wells Fargo Bank’s top banker in Connecticut and four other states, has been promoted to lead its community banking operations in the east region.

Phoenix, PHL miss again on SEC filings

Hartford life insurer Phoenix Cos. Inc. and its PHL Variable Life unit have both missed late October deadlines on a pair of overdue quarterly financial filings with federal securities regulators, and...

Virtus’ 3Q net up 77%

Virtus Investment Partners posted a 77 percent gain in third-quarter net income amid strong sales and inflows for the Hartford wealth-manager’s products and services.

CT 2014 venture funding approaches $400M

Connecticut venture funding continued its upward climb in the third quarter, although the pace of growth slowed significantly during the summer months.

First Niagara's 3Q swings to red

New York's First Niagara Financial Group Inc. fell into the red in the third quarter, as charges tied to goodwill and an unspecified process issue tied to depositors' accounts.

Farmington Bank parent's 3Q net rises

Farmington Bank's parent posted a 14 percent gain in third-quarter net income from steady growth in loans and fee services.

Feds: Ex-Newington bank worker stole $112K

A former Newington bank-branch employee has been charged with stealing nearly $112,000 from several customer accounts, federal prosecutors say.

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