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Tuesday, May 5, 2020
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Arden acquires Northwestern Mutual’s trust business

Arden Trust Company (Arden Trust), a limited purpose trust company under the ownership of Kestra Financial, Inc. announced its acquisition of a $400 million trust business from Northwestern Mutual, of Milwaukee. Headquartered in Wilmington, Arden Trust...
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Former Cecil Bank CEO indicted on fraud, bribery charges

A federal grand jury has indicted the former President and CEO  of Cecil Bank, Elkton, MD. Mary Beyer Halsey,  59, of Rising Sun, MD faces federal charges of conspiracy to commit bank fraud, bank fraud,...
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M&T wins 13 business banking excellence awards

 Greenwich Associates has recognized M&T Bank with 13 regional and national Greenwich Excellence Awards and two Greenwich Best Brand Awards for small business and middle market banking.   Since 2011, M&T Bank has earned a total...
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Former Delaware credit card exec Richard Vague in line for Pennsylvania ...

Pennsylvania Gov.  Tom Wolf announced his intention to nominate Richard Vague, a managing partner of Gabriel Investments to serve as secretary of the Department of Banking and Securities. Vague, who resides in Philadelphia, was a...
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Philadelphia Fed’s Harker: Economy perking along  as  labor market remains tight

By Eileen Dallabrida, This year’s economy will offer more jobs than qualified people to fill them and increased consumer confidence—with bolstered spending to match. That’s the consensus this week from a blue-ribbon panel presenting the 2020...
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Navient buys shares back from hedge fund

Navient Corporation, Wilmington,  has entered into an agreement to repurchase 20,346,464 shares of common stock owned by Canyon Partners, LLC affiliates at a purchase price of $14.77 per share. Canyon is a hedge fund based...
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Carney rolls out proposed fiscal ’21 budget

Gov.  John Carney on Thursday presented a $4.6 billion   Fiscal Year 2021 Recommended Budget. The 2021  budget is up nearly four  percent from last years budget. “We presented a responsible budget plan today that makes...
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Trending: Insurance company to bring 52 jobs to Wilmington

A small mutual insurance company founded in Salem County, NJ, is moving across the river to Wilmington. Farmers of Salem is relocating from Salem, NJ  to Wilmington in 2021,  bringing 52 jobs to the city’s Central...
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Trending: Fire-damaged WSFS office in Hockessin won’t reopen

WSFS will not reopen its Hockessin office after a fire in December.  No one one was hurt in the Dec. 8 fire that broke out  after the bank was closed. "Given the substantial damage,  it...
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Bassett, Dawson and Foy celebrates 35th anniversary

Bassett, Dawson and Foy, Inc., located at 1011 Centre Road., Wilmington, is marking 35 years of serving high-net worth clients. The advisors at Bassett, Dawson & Foy, Inc. offer wealth solutions for individuals, businesses and...