Middle market companies remain upbeat in M&T Bank survey
M&T Bank’s Delaware President Nick Lambrow says middle market businesspeople remain optimistic about the economy. The Commercial Economic Outlook Survey, was the first since the federal tax reform was signed into law. Among the key findings: 70...
WSFS’ earnings surge in first quarter
WSFS Financial Corporation, Wilmington, reported net income of $37.4 million, compared to net income of $18.9 million, for the first quarter of 2017 and a net loss of $9.8 million for the final quarter of 2017. The earnings...
Wells Fargo settles with feds for $1 billion over mortgage, auto loan actions
The federal Bureau of Consumer Financial Protection announced a settlement with Wells Fargo Bank, N.A. in an action with the Office of the Comptroller of the Currency. The bureau found that Wells Fargo violated the...
Delaware ends up in the lower half of states in annual economic performance report
Delaware ended up in the bottom half in an annual report from the American Legislative Exchange Council. In the Rich States, Poor States, report, Utah again earned the top spot for states with the...
Witnesses offer testimony on defendants’ character in Wilm. Trust trial
By Zoe Read Defense attorneys representing four former Wilmington Trust executives accused of bank fraud called on religious leaders and accounting experts to attest to their clients’ good character during the sixth week of their...
M&T reports higher earnings in first quarter
M&T Bank Corporation reported higher earnings in the first quarter, while setting more money aside for pending litigation that includes a suit filed over actions taken by Wilmington Trust prior to its purchase by M&T. General...
Sallie Mae cuts ribbon on job site in New Castle area
Student lender Sallie Mae cut the ribbon on a new employment site in the New Castle area in a ceremony attended by the governor and the entire Congressional delegation. The new office, located at 86...
Wells Fargo executive works to raise bank’s profile in Delaware
Lauren E. Tobiassen is working to raise the profile of Wells Fargo in Delaware. The nearly 30-year veteran of the bank now heads a region that includes the bank's Delaware locations, minus the city of...
Delaware LLC in spotlight after report of payments by Trump lawyer Cohen
Delaware’s limited liability companies are back in the news with the Wall Street Journal (paywall) reporting Sunday that President Donald Trump’s personal attorney Michael Cohen used a First State LLC in making controversial payments. The...
Biden, Gates, Chernow receive PNC’s Common Wealth Award
Former Vice President Joseph R. Biden, Jr., historic biographer Ron Chernow and filmmaker, cultural researcher and journalist Henry Louis Gates, Jr. will receive this year’s Common Wealth Awards. The honorees were recognized at the Common...