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Wednesday, April 17, 2019

Student lender College Ave gets $65 million credit facility

College Ave  Student Loans, Wilmington, announced it has secured a $65 million credit facility from Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners. The multi-million dollar credit facility provides financial...

Fed governor sees ‘year of transition’ for economy, monetary policy at Lyons-UD forecast

Loretta J. Mester, who heads the Federal Reserve Bank of Cleveland says 2019 is a "year of transition for the economy. Mester says the economy is expected to slow down, but remain solid.  She acknowledged risks...

WSFS, Beneficial merger moves a step closer as regulator OKs deal

WSFS Financial Corporation announced that its primary subsidiary, WSFS Bank, received approval from the Office of the Comptroller of the Currency (OCC) to merge Beneficial Bank, the primary subsidiary of Beneficial Bancorp, Inc., Philadelphia  WSFS and Beneficial expect to close...

Delaware income growth slightly below national average

Income growth in Delaware was slightly below the national average through the third quarter of this year. The Tri-State Tracking report from the Federal Reserve Bank of Philadelphia showed that personal income grew by 3...

New Castle County leads state in purchasing power

New Castle County residents continue to have more purchasing power than residents of Kent and Sussex.  In its second annual study, SmartAsset, a New York financial technology company, considered those metrics to determine the best...

M&T offers account without checking for ‘unbanked customers’

M&T Bank has added a new product to its lineup that makes banking more accessible to these “unbanked” consumers, including those who have been denied a traditional bank account in the past. About eight percent...

Five Beneficial branches to be sold to Bank of Princeton as WSFS merger approaches

WSFS Financial Corp. and  Beneficial Bancorp, Inc. will sell five New Jersey banking offices with approximately $190 million of deposits to The Bank of Princeton. Terms were not announced.  WSFS previously announced a plan that will...

Coons seeks rule changes that he believes would spur investment in Opportunity Zones

U.S. Sens.  Chris Coons, D-DE, a member of the Senate Small Business and Entrepreneurship Committee, and Michael Bennet (D-Colo.), a member of the Senate Finance Committee, sent a letter urging Secretary of the Treasury,...

Best Egg platform owner Marlette Funding reports strong results in 2018

Marlette Funding, LLC, developer  and operator of the consumer-lending online platform for Best Egg personal loans, announced  that for the second consecutive year, the company achieved generally accepted accounting principles profit in the double-digit millions with an...

Port of Wilmington, AutoPort get deal to ship new Fords to...

The  Port of Wilmington,  an U.S. East Coast hub for vehicle exports, loaded its first shipment of new Ford vehicles destined for the Middle East  earlier this month. The vehicles were loaded into the Alliance...