Could TARP Smother, Not Shield, U.S. Housing?
Thursday, October 16, 2008 (226 reads)
The U.S. government's plans to sop up soured assets from shell-shocked banks to reignite lending could have an unintended consequence: raising mortgage rates and deepening the housing crash that touched off the crisis.
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Correction: Century Bancorp Q3 Finances Sound
Wednesday, October 15, 2008 (228 reads)
A headline in today's B&T Daily mischaracterized the latest earnings at Medford-based Century Bancorp. The headline indicated that a branch sale had contributed to the bank holding company's decreased income in the third quarter of 2008. That branch sale was accounted for in the company's 2007 third quarter – a fact properly reflected in B&T's story, but not in the headline.
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Seattle Co. Buys Boston High-Rise
Wednesday, October 15, 2008 (417 reads)
Seattle-based institutional real estate advisor Kennedy Assoc. has acquired 185 Franklin St. in Boston from Verizon for $192 million.
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State Street Has Good Q3, Justifying Federal Confidence
Wednesday, October 15, 2008 (141 reads)
State Street Corp. reported a 33 percent increase in net income for the third quarter, validating its selection as one of nine institutions chosen to receive recapitalization funds from the federal government’s bailout plan.
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Century Bancorp Loss Lightened By Branch Sale
Wednesday, October 15, 2008 (265 reads)
This story has been corrected. Please click here to read the new version.
Medford-based Century Bancorp has reported net income of $2.56 million, for the third quarter, a decrease of 10.6 percent compared to $2.86 million for the third quarter last year.
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Woburn Property Gets $12.56M In Financing
Wednesday, October 15, 2008 (204 reads)
Get Your Dragon LLC, an affiliate of VinCo Properties, has closed on a permanent financing package for 15 Commonwealth Ave., an office property in Woburn formerly known as 78 Dragon Court.
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Community Banks See Rush In Loan Demands
Tuesday, October 14, 2008 (332 reads)
Massachusetts community banks are experiencing “dramatic growth” in loan demand amid the turmoil in the national credit and financial markets, according to Thomas J. O’Connor, director of Financial Institution Services at G.T. Reilly & Co, a Boston-based accounting and business consulting firm.
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