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Banking & Finance

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.

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.

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