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Banking & Finance

People's United's CEO compensation fell slightly

A lower bonus was the reason John P. Barnes, president and CEO of Bridgeport lender People's United Financial, earned approximately $173,000 less in total compensation last year, the company...

Virtus sued over F-Squared tie

Gregory Seay |

Hartford wealth manager Virtus investment Partners faces a class-action lawsuit from stockholders who claim the value of their Virtus shares eroded because of its business ties to a Massachusetts...

UIL, Iberdrola keep ratings after merger announcement

A proposed acquisition of Connecticut utility parent UIL Holdings Corp. by Iberdrola USA has not damaged or improved the various credit ratings of the two and their subsidiaries, according to...

Derby's Griffin Hospital dips toe into VC investing

Matt Pilon |

Nonprofit community hospitals are typically conservative investors, placing bets on stocks, bonds, real estate and other securities to supplement their income and strengthen their balance...

CUs rub up against banks in their new-member quest

Gregory Seay |

Since 1936, Enfield Community Federal Credit Union has prospected for customers from among three generations of town residents.

Bankwell names CEO

New Canaan’s Bankwell Financial has named one of its predecessor's founding investors to replace former CEO Peyton Patterson, who resigned last year after personal financial troubles came to...

Savings Institute cuts deal with activist investor

Willimantic-based SI Financial Group said it has appointed Dennis Pollack to its board of directors as well as the board of Savings Institute Bank, under an agreement with activist investor Lawrence...

Fitch: New competition may force CT casinos to restructure debt

Despite recent debt restructurings that trimmed their borrowing costs, Connecticut's two casinos are still facing significant financial headwinds and they may be forced to renegotiate their debt...

Malloy's budget illegal, $54M over spending cap


The Office of Policy & Management admitted Tuesday it miscalculated the spending cap for Gov. Dannel P. Malloy's proposed budget and now the governor and his team have to find another $54 million to...

Bank industry backing offers boost to Tolland's Geezeo

Greg Bordonaro |

Endorsements can help politicians build their power and support base, but they can also provide companies a major boost in business.

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