Federal Reserve Bank of Philadelphia

Greene County Bancorp, Inc. Announces Cash Dividend

Retrieved on: 
Wednesday, October 18, 2023
MHC, Federal Reserve Bank of Philadelphia, Bank, Federal Reserve Bank, Commercial bank, Hudson Valley Regional Airport, Bank of Greene County, Holding company

CATSKILL, N.Y., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.08 per share on the Company’s common stock.

Key Points: 
  • CATSKILL, N.Y., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.08 per share on the Company’s common stock.
  • The dividend reflects an annual cash dividend rate of $0.32 per share which is the same rate as the dividend declared during the previous quarter.
  • The Company is the majority-owned subsidiary of Greene County Bancorp, MHC (the “MHC”), a federal mutual holding company which owns 54.1% of the Company’s outstanding common shares.
  • Greene County Bancorp, Inc. is the direct and indirect holding company, respectively, for The Bank of Greene County, a federally chartered savings bank, and Greene County Commercial Bank, a New York-chartered commercial bank, both headquartered in Catskill, New York.

AIG Appoints Ed Dandridge as Executive Vice President and Chief Marketing & Communications Officer

Retrieved on: 
Thursday, September 21, 2023
Professional Services, Business, Insurance, International Marxist Group, Tufts University, Federal Reserve Bank, University, General insurance, External, Investment, Communication, Multimedia, Corporate social responsibility, AIG, Marketing, Government, Bachelor of Arts in Organizational Psychology, Susan, University of Pennsylvania Law School, Federal Reserve Bank of Philadelphia, Internal communications, American International Group, Growth, National Association, SVP, Marsh McLennan, NYSE, Communications officer, McLennan, Management, Boeing

American International Group (NYSE: AIG) today announced that Edward L. Dandridge has joined the company as Executive Vice President and Chief Marketing & Communications Officer, effective October 16, 2023.

Key Points: 
  • American International Group (NYSE: AIG) today announced that Edward L. Dandridge has joined the company as Executive Vice President and Chief Marketing & Communications Officer, effective October 16, 2023.
  • Mr. Dandridge will report to Peter Zaffino, Chairman & Chief Executive Officer, and serve on AIG’s Executive Leadership Team.
  • Ed’s previous leadership roles include SVP, Chief Communications Officer of Boeing, Chief Marketing & Communications Officer of Marsh & McLennan, and President & CEO of the National Association of Investment Companies.
  • Mr. Dandridge holds a Bachelor of Arts from Tufts University, with honors, and a Juris Doctor from the University of Pennsylvania Law School.

Manufacturing PMI® at 47.6%; August 2023 Manufacturing ISM® Report On Business®

Retrieved on: 
Friday, September 1, 2023
Appliance, Monster Employment Index, Fischer Paper Products, United Auto Workers, Projection, Employment, Gross domestic product, Fiore, Federal Reserve Bank of Philadelphia, Backlog, Drink, Computer, Production, Federal Reserve, United Auto Workers strike of 1945–1946, Growth, Textile manufacturing, Book, Metal, Industrial production index, Wood, Plastic, Furniture, Electronic Products, Allied Corporation, Customer, Overalls, Metal production in Ukraine, U.S. Producer Price Index, Business, Miscellaneous electric load, Transport, Stellantis, Contingency, Order, Machine, USB On-The-Go, Directive on intra-EU-transfers of defence-related products, General Motors, Component, Rubber production in Sri Lanka, Heated tobacco product, Ford, GDP, CPSM, Reading, Gasoline, Online shopping, Tourism, Food

TEMPE, Ariz., Sept. 1, 2023 /PRNewswire/ -- Economic activity in the manufacturing sector contracted in August for the 10th consecutive month following a 28-month period of growth, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.

Key Points: 
  • "The Supplier Deliveries Index figure of 48.6 percent is 2.5 percentage points higher than the 46.1 percent recorded in July.
  • The New Export Orders Index reading of 46.5 percent is 0.3 percentage point higher than July's figure of 46.2 percent.
  • Fiore continues, "The U.S. manufacturing sector shrank again, but the uptick in the PMI® indicates a slower rate of contraction.
  • The five manufacturing industries that reported growth in August are: Printing & Related Support Activities; Transportation Equipment; Food, Beverage & Tobacco Products; Petroleum & Coal Products; and Miscellaneous Manufacturing.

CCFNB Bancorp, Inc. and Muncy Bank Financial, Inc., Announce Receipt of Regulatory Approvals for Merger of Equals

Retrieved on: 
Wednesday, August 30, 2023
Banking, Professional Services, Finance, Agreement, Federal Deposit Insurance Corporation, Federal Reserve Bank, Plan, OTCQB, Trust, Muncy Bank Ballpark at Historic Bowman Field, Pennsylvania Department of Community and Economic Development, Federal Reserve Bank of Philadelphia, Security (finance)

CCFNB Bancorp, Inc. (OTCPK: CCFN) (“CCFNB”), the bank holding company for First Columbia Bank & Trust Co. and Muncy Bank Financial, Inc. (OTCQB: MYBF) (“Muncy”), the bank holding company for The Muncy Bank and Trust Company, jointly announced that, in connection with their proposed strategic merger of equals, they have received the requisite regulatory approvals and waivers from the Pennsylvania Department of Banking and Securities, the Federal Deposit Insurance Corporation and the Federal Reserve Bank of Philadelphia to complete their transaction on the terms and subject to the conditions of the Agreement and Plan of Merger, dated April 17, 2023 and as amended June 21, 2023, by and between CCFNB and Muncy.

Key Points: 
  • CCFNB Bancorp, Inc. (OTCPK: CCFN) (“CCFNB”), the bank holding company for First Columbia Bank & Trust Co. and Muncy Bank Financial, Inc. (OTCQB: MYBF) (“Muncy”), the bank holding company for The Muncy Bank and Trust Company, jointly announced that, in connection with their proposed strategic merger of equals, they have received the requisite regulatory approvals and waivers from the Pennsylvania Department of Banking and Securities, the Federal Deposit Insurance Corporation and the Federal Reserve Bank of Philadelphia to complete their transaction on the terms and subject to the conditions of the Agreement and Plan of Merger, dated April 17, 2023 and as amended June 21, 2023, by and between CCFNB and Muncy.
  • The consummation of the merger remains subject to the approval by CCFNB and Muncy shareholders and the satisfaction of other customary closing conditions.
  • CCFNB and Muncy expect that the merger transaction will close on or about November 11, 2023.
  • Previously, on June 21, 2023, CCFNB and Muncy jointly announced that, in connection with their proposed strategic merger of equals, they have agreed to rename their combined bank "Journey Bank" and their combined holding company "Muncy Columbia Financial Corporation."

Sharmain Matlock-Turner to Receive Prestigious Philadelphia Award

Retrieved on: 
Wednesday, May 17, 2023
Foundation, Other Philanthropy, Philanthropy, State, Local, Public Policy, Government, Civic, Federal Reserve Bank, Partnership, Violence, National Network, Education, Organic, Coalition, Civic Coalition (Argentina), Quality of life, Journalism, Trustee, Philadelphians, William Penn Foundation, The Philadelphia Foundation, Organization, Delaware Valley, City, Newborn Screening Saves Lives Act of 2007, UAC, Comcast Technology Center, Peirce College, Federal Reserve Bank of Philadelphia, The Philadelphia Award, Trauma, Courage, Commerce, Drug

The Board of Trustees of the Philadelphia Award is proud to announce Sharmain Matlock-Turner as the recipient of its esteemed Philadelphia Award for 2022.

Key Points: 
  • The Board of Trustees of the Philadelphia Award is proud to announce Sharmain Matlock-Turner as the recipient of its esteemed Philadelphia Award for 2022.
  • The award ceremony will take place on June 6, 2023, at The Market at the Comcast Technology Center at 5:30 pm.
  • “Sharmain Matlock-Turner has never been afraid to confront seemingly insurmountable challenges in order to improve lives,” said Philadelphia Award Board Chair Pedro A. Ramos.
  • She also serves on the boards of the Chamber of Commerce for Greater Philadelphia, the Federal Reserve Bank of Philadelphia, Uplift Solutions, Entrepreneur Works, and United Way of Greater Philadelphia and Southern New Jersey.

Greene County Bancorp, Inc. Announces Cash Dividend

Retrieved on: 
Wednesday, April 19, 2023
Federal Reserve Bank, Bank of Greene County, Commercial bank, MHC, Bank, Hudson Valley Regional Airport, Federal Reserve Bank of Philadelphia, Holding company

CATSKILL, N.Y., April 19, 2023 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.07 per share on the Company’s common stock.

Key Points: 
  • CATSKILL, N.Y., April 19, 2023 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.07 per share on the Company’s common stock.
  • The dividend reflects an annual cash dividend rate of $0.28 per share.
  • The Company is the majority-owned subsidiary of Greene County Bancorp, MHC (the “MHC”), a federal mutual holding company which owns 54.1% of the Company’s outstanding common shares.
  • Greene County Bancorp, Inc. is the direct and indirect holding company, respectively, for The Bank of Greene County, a federally chartered savings bank, and Greene County Commercial Bank, a New York-chartered commercial bank, both headquartered in Catskill, New York.

LendingTree Adds Funding Circle to Its Marketplace Network of SMB Lenders And Products

Retrieved on: 
Wednesday, March 8, 2023
Professional Services, Technology, Small Business, Finance, Software, Internet, BIS, Federal Reserve Bank, LendingTree, Research, Growth, Small business, SBA, Bank for International Settlements, Federal Reserve Bank of Philadelphia, Bank, Funding Circle

Funding Circle , the online platform for small business loans, announced today that it has partnered with one of the nation’s largest online lending marketplaces, LendingTree, to offer LendingTree business customers access to fast, affordable financing from Funding Circle.

Key Points: 
  • Funding Circle , the online platform for small business loans, announced today that it has partnered with one of the nation’s largest online lending marketplaces, LendingTree, to offer LendingTree business customers access to fast, affordable financing from Funding Circle.
  • By offering Funding Circle's term loan product in LendingTree’s online marketplace, businesses will have access to even more flexible financing solutions, including Funding Circle’s six month to seven-year term loans of up to $500,000 that fund in as quickly as 48 hours1 after application submission.
  • “LendingTree is thrilled to partner with Funding Circle to bring an affordable SBA alternative to our small business network,” said Greg Libon, VP of Sales at LendingTree.
  • “We are confident adding Funding Circle’s products to our offering will provide our customers with access to flexible working capital solutions that fuel future growth, enabling entrepreneurs to achieve their business aspirations.”
    “We are delighted to partner with LendingTree to provide their business customers fast and affordable financing,” said Kristal Bergfield, Head of Strategic Partnerships at Funding Circle US.

ScaleWith Appoints Ed Dandridge President

Retrieved on: 
Thursday, March 2, 2023
Professional Services, Data Management, Environmental, Social and Governance (ESG), Technology, Software, Networks, Artificial Intelligence, Cloud, CBS, Federal Reserve Bank of Philadelphia, Software as a service, Engineering, Salesforce, B2G, Investment, Ed, National Association, Organization, STEAM, Marketing, McLennan, Viacom, AIG, Marsh McLennan, Government, Advertising, Nielsen, Federal Reserve Bank, Management, Boeing

ScaleWith, Inc., a market-making SaaS technology company that transforms social impact from a cost center into a revenue generator by embedding social impact funding into B2B and B2G transactions, today announced it has appointed Edward L. Dandridge President, effective immediately.

Key Points: 
  • ScaleWith, Inc., a market-making SaaS technology company that transforms social impact from a cost center into a revenue generator by embedding social impact funding into B2B and B2G transactions, today announced it has appointed Edward L. Dandridge President, effective immediately.
  • Ed will be based in New York, and will oversee ScaleWith’s operations and teams across the U.S. and U.K.
  • Ed serves on the President’s Advisory Committee of the Federal Reserve Bank of Philadelphia, and is the Chair of the Board of Directors, Susan G. Komen®.
  • He was previously the President & Chief Executive Officer of the National Association of Investment Companies, an industry trade group representing diverse middle market private equity and venture firms.

Greene County Bancorp, Inc. Announces Cash Dividend

Retrieved on: 
Wednesday, January 18, 2023
Bank of Greene County, Commercial bank, Federal Reserve Bank, Federal Reserve Bank of Philadelphia, Bank, MHC, Hudson Valley Regional Airport, Holding company

CATSKILL, N.Y., Jan. 18, 2023 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.14 per share on the Company’s common stock.

Key Points: 
  • CATSKILL, N.Y., Jan. 18, 2023 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.14 per share on the Company’s common stock.
  • The dividend reflects an annual cash dividend rate of $0.56 per share, which is the same rate as the dividend declared during the previous quarter.
  • The Company is the majority-owned subsidiary of Greene County Bancorp, MHC (the “MHC”), a federal mutual holding company which owns 54.1% of the Company’s outstanding common shares.
  • Greene County Bancorp, Inc. is the direct and indirect holding company, respectively, for The Bank of Greene County, a federally chartered savings bank, and Greene County Commercial Bank, a New York-chartered commercial bank, both headquartered in Catskill, New York.

Inflation developments in the euro area and the United States

Retrieved on: 
Monday, January 16, 2023
Income, OECD, Federal Reserve Bank of Philadelphia, HICP, ECB Survey of Professional Forecasters, COVID-19, United States Consumer Price Index, Issue 1, Food, SPF, PCE, GDP, CPI, Growth, Policy, Unemployment, ECB, Economics Bulletin, Electricity, European Commission, Federal Reserve Bank, Renewable energy, Cryptocurrency, Bookkeeping, Tire manufacturing, Tourism, Security (finance), Eurosystem

= Inflation developments in the euro area and the United States =

Key Points: 
  • = Inflation developments in the euro area and the United States =
    Published as part of the ECB Economic Bulletin, Issue 8/2022.
  • Headline inflation has increased sharply in the euro area and in the United States since the start of 2021.
  • An earlier and stronger increase had been recorded in the United States, but headline inflation has been higher in the euro area since July 2022.
  • Energy and food price inflation have played a key role as drivers of the higher headline inflation recorded in the euro area.
  • In November energy inflation alone accounted for 38% of headline inflation in the euro area – but only for 14% in the United States.
  • Together, energy and food inflation make up around two-thirds of headline inflation in the euro area, but only around one-third of headline inflation in the United States (Chart A).
  • [2] HICP inflation excluding food and energy stood at 5.0% in November in the euro area.
  • A stronger consumption-driven recovery in the United States has been a key driver of differences between underlying inflation developments in the two economies.
  • Focusing on goods inflation, the contribution of supply remains higher than the contribution of demand in both the United States and the euro area.
  • The latest observations are for September 2022 for the euro area and October 2022 for the United States.
  • Professional forecasters expect inflation two years ahead to be slightly higher in the United States than in the euro area.
  • One-year ahead HICP inflation in the euro area is expected to stand at 4.8% according to the ECB Survey of Professional Forecasters (SPF).
  • At the same time, inflation expectations two years ahead for the United States stand at 2.6% for the PCE and 2.8% for the CPI, while two-year ahead inflation expectations for the euro area HICP stand at 2.4% (Chart E).