Category: 3. Business

OLYMPIA, Wash., Dec. 29, 2025 /PRNewswire/ — Heritage Financial Corporation (“Heritage”) (Nasdaq: HFWA) announced today that it has received all regulatory approvals required to complete the previously announced merger (the “Merger”) of Olympic Bancorp, Inc. (“Olympic”) with and into Heritage, and the merger of Kitsap Bank with and into Heritage Bank.

Heritage expects the transaction to close on or about January 31, 2026, subject to the satisfaction of customary closing conditions, including the receipt of shareholder approval by the shareholders of both Heritage and Olympic.

“We are pleased to have received the necessary regulatory approvals as this is an important step towards integrating a successful merger,” said Bryan McDonald, Heritage President and CEO. “Kitsap Bank’s relationship banking strategy nicely compliments Heritage’s strategies. This combination will create a more robust banking platform for communities across the Puget Sound region.” 

About Heritage
Heritage Financial Corporation is an Olympia-based bank holding company with Heritage Bank, a full-service commercial bank, as its sole wholly-owned banking subsidiary. Heritage Bank has a branching network of 51 banking offices in Washington, Oregon, and Idaho. Heritage Bank also does business under the Whidbey Island Bank name on Whidbey Island. Heritage’s stock is traded on the NASDAQ Global Select Market under the symbol “HFWA.” More information about Heritage Financial Corporation can be found on its website at www.hf-wa.com and more information about Heritage Bank can be found on its website at www.heritagebanknw.com.

SOURCE Heritage Financial Corporation

Beginning Tuesday, commuter rail passengers will need to tap or scan their train tickets to enter the track area at South Station, as the MBTA begins a major change in fare collection operations.

The T and and its commuter rail operator Keolis Commuter Services announced Monday that installation of fare gates at the Boston transportation hub is complete and gates will be phased into operation. The T also released a how-to video and said station staff will be available on concourses to help passengers.

The layout includes 40 gates installed around the concourse area, including 11 wider gates that allow room for wheelchairs, scooters, bicycles, luggage and strollers, according to the T.

Fare gates will be introduced to passengers incrementally, with more expected to be in service as testing is completed. Conductors will also still check tickets on board trains to verify travel zones, the T said.

Passengers can use the following types of tickets to exit and enter the gates: the mTicket app, CharlieCards and CharlieTickets with printed zones, $10 weekend paper tickets, Amtrak tickets, and active military IDs. Stored value CharlieCards for the bus and subway are not accepted at commuter rail fare gates, and commuter rail fare gates cannot accept payment by contactless debit/credit card, phone, or watch with a mobile wallet.

“The new fare gates at South Station – one of the busiest travel hubs in the Northeast – is another demonstration to our riders that we are committed to ensuring fares are collected and reinvested into the transit system to better serve the public,” said MBTA General Manager Phillip Eng.

Fare gates opened at North Station in 2022, and fare gates are also planned to open at Back Bay Station and Ruggles Station in 2026.

“Combined with upgrades to on-board sales and record conductor scans, Keolis is collecting more Commuter rail revenue than ever before on behalf of the MBTA,” said Keolis General Manager John Killeen.

December 29, 2025

NICHOLASVILLE, Ky. – R. J. Corman Railroad Company today announced that Raymond (Ray) Goss will retire from his role as President effective January 30^th, 2026, following a distinguished career spanning five decades in the rail industry and seven years leading R. J. Corman’s short line and switching operations.

“Ray has been an exceptional leader whose steady hand and deep industry knowledge have strengthened our short line operations and elevated our service standards. We are grateful for his dedication and wish him the very best in retirement,” said Justin Broyles, President & CEO of R. J. Corman Railroad Group.

Before joining R. J. Corman Railroad Company, Ray Goss built a distinguished reputation in the rail industry. He held various leadership and operational roles at major railroads such as Genesee & Wyoming Inc., Amtrak Corporation, and Canadian Pacific Railway, where he developed expertise in engineering, transportation management, safety initiatives, and customer relations. His broad experience and commitment to excellence positioned him as a respected figure in the field, ultimately leading to his appointment as President of R. J. Corman Railroad Company’s operations.

Under Ray Goss’s leadership, R. J. Corman Railroad Company achieved remarkable growth and modernization. Since 2019, the company expanded its network through strategic acquisitions and new operations, adding the Childersburg Line, Raleigh & Fayetteville Railroad, Knoxville & Cumberland Gap Railroad, as well as the Owego & Harford Railway, Lehigh Railway, and Luzerne & Susquehanna Railway. These additions strengthened R. J. Corman’s presence across key regions and enhanced its ability to serve diverse markets.

Goss also championed transformative infrastructure improvements, securing federal TIGER and CRISI grants to rehabilitate hundreds of miles of track, upgrade bridges, and modernize grade crossings. These investments improved safety, efficiency, and reliability for customers while supporting regional economic development. Under his tenure, the company consistently earned top safety honors, with all short lines receiving Jake Awards in recent years and several earning the prestigious President’s Award for exemplary safety performance. These accomplishments reflect Goss’s unwavering commitment to operational excellence and customer service, leaving a lasting legacy of growth and innovation.

“It has been an honor to lead R. J. Corman’s railroads and work alongside such a talented team,” said Ray Goss. “Together, we’ve advanced safety, improved efficiency, and strengthened relationships with our customers. I’m proud of what we’ve accomplished, and I’m confident that they will continue to be leaders in the industry and take the company to new heights.”

About R. J. Corman Railroad Company, LLC

R. J. Corman Railroad Company, LLC operates 19 short line railroads in 11 states and is a subsidiary of R. J. Corman Railroad Group, LLC. Altogether, the company employs approximately 1,400 people in 24 states. In addition to short line railroad and switching operations, R. J. Corman companies provide a broad scope of services to the railroad industry, such as emergency response, track material distribution, track construction, and signal design and construction.

For more information about the company, visit www.rjcorman.com.

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Summary

Andorra has a large and distinct banking sector with a strong focus on private banking. Drawing comparisons with peer microstates and financial centers in Europe, the analysis highlights Andorran banks’ reliance on deposits, strong capital and liquidity buffers, and expansion into international markets. Using a panel dataset of 275 private banks across 39 countries, the study identifies key determinants of profitability, including bank size, capitalization, GDP growth, and interest rates. The findings underscore the importance of proactive supervision and macroprudential tools in managing systemic risks, especially in the absence of a central bank. The paper also explores the implications of Andorra’s EU Association Agreement on the Andorran banking sector.

Subject: Asset and liability management, Commercial banks, Credit, Economic sectors, Financial institutions, Financial sector, Liquidity, Money

Keywords: Andorra, Assets under management, Banking sector, Capital buffers, Commercial banks, Credit, EU Association Agreement, Financial integration, Financial sector, Financial sector, International expansion, Liquidity, Liquidity, Macroprudential policy, Microstate, Private banking, Profitability, regulation, supervision, Systemic risk

SAN ANTONIO – A new community center will come to a South Side neighborhood in summer 2026, according to a filing with the Texas Department of Licensing and Regulation.

The TDLR filing on Monday, Dec. 22, details plans for the construction of a 12,000-square-foot-plus community center to replace the former Father Manuel Roman Center at the Villa Coronado park south of Loop 410.

An October 2023 structural assessment deemed the building “structurally unsound.” The building was later recommended for demolition and replacement, according to a June 2024 City of San Antonio presentation.

The building was built in the mid-1980s and later demolished in March 2025. The project’s $12 million budget covers demolition, design and construction of the new center.

A well-known mural on the former building’s façade was lost during demolition. However, city documents allude to a public input process facilitated by the city’s Arts & Culture Department to honor the center’s namesake, Manuel Roman, through a public art component.

Costs for the new center are estimated to be around $8.3 million. Construction is expected to begin on May 12, 2026, and be completed on July 11, 2027, according to the filing.

The center’s design phase is complete, and the city is beginning the permitting and bidding process, according to a spokesperson for the District 3 City Council office.

Marmon Mok was the architecture firm tapped to design the project. The firm’s portfolio includes work on the Tobin Center for the Performing Arts, Stone Oak’s Parman Library and renovations on the Lila Cockrell Theater.

The new community center will include a lobby, gymnasium, classrooms, offices, a kitchen and several support areas.

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