Connecticut banks producing profits during pandemic, but job growth is slow By Alexander Soule
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Photo: Ned Gerard / Hearst Connecticut Media
Despite closing 2020 with their third-best profits ever, Connecticut banks entered this year having yet to bring back the jobs they shed during the COVID-19 pandemic. Statewide payrolls are at their lowest since the aftermath of the Great Recession.
The jobs scenario reflects two trends in Connecticut and the New York City region uncertainty over the economic outlook and a discovery that banks in some instances are able to fulfill customer expectations adequately with fewer employees.
Banks have braced for the uncertainty of whether residential and commercial borrowers will be able to keep up with their loan commitments, particularly in niche industries like hospitality or in locales where unemployment levels remained elevated for any extended stretch.
Connecticut banks producing profits during pandemic, but job growth is slow
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Coronavirus Spelled A Long And Very Uncertain Year For Colorado Businesses Built On Tourism
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Boardwalktech Reports Third Quarter Fiscal 2021 Financial Results
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Company Continues Progress on Fiscal Strength
CUPERTINO, Calif., Feb. 26, 2021 /PRNewswire/ - (TSXV: BWLK) (OTCQB: BWLKF) – Boardwalktech Software Corp. ( Boardwalktech or the Company ), the leading digital ledger platform and enterprise software solutions company, is pleased to report its financial results for the three-month period ended December 31, 2020. All figures are reported in U.S. dollars, unless otherwise indicated. Boardwalktech s financial statements are prepared in accordance with International Financial Reporting Standards ( IFRS ).
Financial Highlights:
Revenues for Q3-FY21 of $1.1 million were flat compared with Q2-FY21, but down from $1.2 million of revenue in Q3-FY20. SaaS license revenue increase of 7% and professional services revenue increase of 2% for Q3-FY21 was offset by lower expected revenue from legacy contracts being retired (supplemental hos