Banking & Finance

Worcester-based Webster First Federal Credit Union has agreed to merge with a small one-branch credit union in Merrimac that will become its 16th location.

Because of the federal tax changes, Fidelity Bank in Leominster said on Wednesday it is raising its minimum wage to $15 and is giving staff members below the level of vice president a $500 bonus.

Amazon doesn't quite fit into the state's current set of job-boosting programs, according to Gov. Charlie Baker, who raised the idea Thursday of legislation tailored to suit the tech giant's needs.

Whitinsville-based UniBank has named Gary Baxter, a former financial firm chief information officer, to the same position at the $1.6-billion bank.

Berkhshire Hills Bancorp, Inc grew its pre-tax income by 82 percent in the fourth quarter, primarily due to the $230-million merger with Worcester-based Commerce Bancshares Corp.

Marlborough drug maker RXi Pharmaceuticals has regained compliance with Nasdaq by having 10 straight days with a closing bid price of the company's stock at $1 per share or higher.

Opioid crimes are his top drug enforcement priority, but U.S. Attorney Andrew Lelling told reporters Wednesday that his enforcement of federal marijuana laws could ensnare anyone from an hourly wage employee at a marijuana dispensary to a bank that opens an account for a pot shop.

Marijuana companies can begin applying for Massachusetts recreational licenses in April and open stores in July, but federal changes this month indicating a shift toward a strict application of federal drug law law are threatening to derail the budding industry.

The abrupt change in the federal government's approach to marijuana law enforcement means investors in the state-sanctioned Massachusetts pot market could see bigger returns on their investments, according to the state's chief regulator.

Oxford-based bankHometown announced Friday its President and CEO Michael Hewitt will retire at the end of June after leading the bank for five years.