John Reosti is a reporter covering community banks in particular and the financial services industry in general. He also focuses on the Small Business Administration, the National Credit Union Administration Board and issues connected to the CECL accounting standard.
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VersaBank in London, Ontario, agreed nearly two years ago to buy a small Minnesota bank. The buyer's CEO says he remains hopeful approval will come soon.
By John ReostiMarch 27 -
Each spring during the rush of annual meetings, a handful of financial institutions take heat from shareholders who demand new strategies, management shakeups and, at times, even a sale of the company.
By John ReostiMarch 26 -
Funding Circle, one of the fintechs that received an SBLC license last fall, lost $5 million in 2023 and plans to focus on its U.K. operations. Republican skeptics of the SBA seized on this, and Administrator Isabel Casillas Guzman's renewed push for the agency to make direct loans.
By John ReostiMarch 21 -
Investing in Main Street Act has passed the House three times with overwhelming majorities but has failed to gain traction in the Senate. Backers, including banks that invest in the funds, hope to flip the script with a third version.
By John ReostiMarch 18 -
Peapack-Gladstone's wealth unit is pursuing an ambitious de novo expansion in New York and perhaps elsewhere because M&A has become expensive as private equity money has inflated seller expectations.
By John ReostiMarch 13 -
The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.
By John ReostiMarch 12 -
The Columbus, Ohio, regional bank will focus first on Dallas before venturing statewide. Its move into the Lone Star State comes three months after announcing a similar initiative in the Carolinas.
By John ReostiMarch 7 -
Berkshire Hills Bancorp declined to detail the savings it expects from the downsizing, though one analyst estimated it could shave $3 million from the company's annual noninterest expenses.
By John ReostiMarch 5 -
Ryan Bailey's responsibilities include refreshing Cambridge Savings Bank's digital-only brand Ivy Bank. The institution believes his prior stint at USAA has prepared him for the challenge.
By John ReostiMarch 1 -
After Carter Bankshares sought to auction one of his properties, Gov. Jim Justice promised to "push back like you can't imagine."
By John ReostiFebruary 28