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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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 Reosti5h ago -
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 -
The Fort Lee, New Jersey, company has hired a pair of veteran investment bankers to lead an effort serving fintechs' capital market needs. It described the move as "doubling down" on its commitment to the sector.
By John ReostiFebruary 26 -
MainStreet Bancshares in Fairfax says it can succeed where others have run into some thorny regulatory problems by cutting out the middleware and linking fintech partners directly to its core.
By John ReostiFebruary 22 -
Community Bank System in Syracuse faced claims it failed to properly pay some branch-level employees, making it one of a growing number of banks forced to confront compensation-related disputes in recent months.
By John ReostiFebruary 16