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Despite gains in education and earnings, the racial wealth gap remains a deep issue in America. According to the Federal Reserve Board, Black Americans' net worth is 70% below that of non-Black households.
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Ceres welcomes the harmonized Principles for Climate-Related Financial Risk Management for Large Financial Institutions from the Federal Reserve Board of Governors (Fed), Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation (FDIC).
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Ceres submitted comments today to the Federal Reserve Board of Governors (Fed), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency urging the three agencies to modernize the Community Reinvestment Act
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Ten New York City Small Businesses Each Receive $10,000 to Provide Relief from Impact of COVID-19 on their Businesses
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Fourth Quarter 2021 Summary
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Net income of $84.8 million, or $0.89 per diluted share
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Return on average assets of 1.63%, return on average equity of 11.90%, and return on average tangible common equity of 18.66%(1)
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Efficiency ratio of 48.0%(1)
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Loan growth of $315.8 million, or 9.0%, annualized
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Net interest margin of 3.53%, and core net interest margin of 3.36%(1)
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Cost of deposits decreased to 0.04%
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Nonperforming assets represent 0.15% of total assets
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Tangible book value per diluted share increased $0.54 to $20.29(1)
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Eastern Bank Foundation (“Foundation”), the philanthropic arm of Boston-based Eastern Bank whose stock holding company is Eastern Bankshares, Inc. (NASDAQ Global Select Market: EBC), today announced it has established a plan to sell a pre-arranged portion of EBC company stock held by the Foundation over an 18-month period. The stock trading plan was established as part of the Foundation’s long-term strategy for asset diversification and liquidity and was adopted in accordance with the requiremen
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Ties corporate credit lines to measured ESG goals, a first for a North America auto manufacturer
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Demonstrates financial market leadership in corporate transition away from LIBOR, with first large syndicated corporate loan priced directly off of SOFR
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“A Year Like No Other” Report Captures the True Essence of the Bank’s Commitment to Colleagues, Clients and the Communities it Serves, Especially During a Most Challenging Year
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The sustainability nonprofit Ceres issued formal comments to the Federal Reserve Board of Governors today, urging the agency to strengthen and modernize the Community Reinvestment Act (CRA)
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Bank Names Chief Corporate Social Impact Officer and Chief Human Resources Officer;
Further Cements Commitment to Corporate Social Responsibility
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Organizations to Work with Leading Nonprofits to Address Widespread Financial Insecurity
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Customers Bank, a leading super-community bank with operations in Pennsylvania, Illinois, New Jersey, New York and New England, announced today that AnNette Hines has been promoted to Director of Cultural Advancement. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191001005116/en/Customers Bank Promotes AnNette Hines to Director of Cultural Advancement (Photo: Business Wire) Hines joined Customers Bank in 2013 and has more than 20 yea
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Congressman Brendan Boyle and Philadelphia’s Mayor Jim Kenney joined a celebration of affordable housing and community revitalization.
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Bank Further Demonstrates its Commitment to New York’s Not-for-Profit
Affordable Housing Community
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Pledge Made Publicly Available on Bank’s Website
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i(x) investments, a multi-strategy social impact investment firm, today announces the appointment of Sarah Bloom Raskin to its Board of Directors. From March 2014 through January 2017, Ms. Raskin served as the Deputy Secretary of the U.S. Department of the Treasury. In addition to the broad range of policy, operational and organizational functions she oversaw and directed as second-in-command at the Treasury Department, Ms. Raskin focused on bolstering the country’s critical financial infrastruc
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Marketing makes us want to buy all kinds of stuff. But can marketing magic make saving more appealing, fun, or even cool? Virtually everyone would like to retire comfortably and to be free from financial worry on a daily basis. Yet, many people don’t save enough even for unexpected expenses—a proposition that’s even more challenging for low-to-medium income people. Look to a U.S. Federal Reserve Board survey published in May 2016, in which 46 percent of respondents said they couldn’t cover even a