The Boston-based custody bank will place deposits at Carver State Bank, Citizens Trust Bank and Ponce Bank as part of its broader effort to help reduce the wealth gap. State Street plans to place a total of $100 million of deposits at minority depository institutions this year.
When Biogen reports earnings Wednesday, investors won’t be paying much attention to the numbers. Biogen is in a period of cost-cutting, and trying to build.
Rising deposit costs aren’t unique to any bank right now even giants such as JPMorgan Chase and Wells Fargo. But some banks, because of the nature of their business, might be feeling the effect of them more than others.
Trust bank State Street beat analysts’ second-quarter bottom-line net income fo