article thumbnail

Tech Center: New York City Takes on Tech Full Force

PYMNTS

For years, New York City has been at the epicenter of United States’ culture with the fashion and entertainment industries leading the way. With the top modeling agencies, MTV and the home of American broadway plays, there’s no denying New York City is bustling with creativity. trillion (2012).

article thumbnail

CRE risk management: Navigating hazards and opportunities

Abrigo

Stress testing, monitoring are essential Financial institutions should challenge assumptions about CRE risk while also watching for red flags as they manage the CRE portfolio. WATCH Takeaway 1 Banks and credit unions are critical sources of capital for businesses in their communities, so how institutions assess CRE credits matters.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Troubles at NYCB highlight pain in rent-regulated real estate

American Banker

Long Island-based New York Community Bancorp has a large concentration in loans on New York City apartment buildings with rent restrictions. Property values in that sector have tanked amid higher interest rates, inflation and 2019 revisions to state law.

article thumbnail

NYC Sees 40 Pct Hike In Bankruptcies As Office Workers, Tourists Stay Home

PYMNTS

Bankruptcy filings are surging in New York City with almost 6,000 closures, representing a 40 percent increase, according to Bloomberg , and it's forecasted to keep getting worse. The spikes were especially concentrated in the south Brooklyn and Queens neighborhoods with large Orthodox Jewish communities observing Yom Kippur.

New York 224
article thumbnail

Peapack-Gladstone sets sights on New York City

American Banker

The New Jersey institution has hired Jeanne Scungio, a veteran banker who ran First Republic Bank's New York operations, to oversee its expansion into the Big Apple.

article thumbnail

4 Ways to Reach Aging Consumers About COVID-19 and Vaccines

Perficient

While the Centers for Disease Control and Prevention(CDC ) recommends healthcare consumers over 65 get vaccinated, few communications have targeted these groups or provided understanding and navigation to how to access the vaccine in their community. That’s not a race, that’s just cruel.”. How are you reaching them?

article thumbnail

Ponce Bank serves the underserved

Independent Banker

Ponce Bank has brought banking services to minority neighborhoods in the Bronx and greater New York City for more than six decades with a clear focus on community investment. Times were tough for the New York City borough, whose residents were predominantly working-class Black and Puerto Rican.