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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Spring Bank CEO Barry Mann has accumulated a 6% stake in New York City-based Carver Bancorp. Carver has a history of underperforming, but Mann is optimistic about its chances under new CEO Donald Felix.
October 20 -
Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
October 17 -
Noninterest income at the Minneapolis-based company jumped more than 10% during the third quarter, while asset quality improved and expenses held steady. "Our focus is very much on organic growth," said CEO Gunjan Kedia.
October 16 -
The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman.
October 14 -
A number of banks experienced major increases in 7(a) lending activity during SBA's recently completed fiscal year, as program-wide loan volume topped $37 billion for the first time.
October 10 -
The Accountability Board, a three-year-old-group focused on corporate governance issues, said the bank shouldn't have backtracked on a longstanding policy separating the chairman and CEO roles.
October 8 -
The Fairmont, West Virginia, bank is taking a $7.6 million hit to rid itself of $73 million in long-duration, low-yielding securities, though the sale of its payments subsidiary the week before cushions the blow.
October 7 -
The fund is designed to generate a financial return, as well as Community Reinvestment Act credit, for TD. Its inaugural investment is in a mixed-use project that will include 49 affordable housing units.
October 3 -
In a break from a 20-year history marked by losses and scandal, California International Bank in Westminster is on pace for its biggest-ever profit, its CEO says.
October 1 -
Though small banks have a durable customer base in the small-business sector, the decades-long consolidation trend will likely speed up, according to a new report from Morningstar DBRS.
October 1
