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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HopFed was ordered to pay the legal fees for Stilwell Group, which sued the bank after its directors passed a bylaw intended to keep the investor off its board.
February 12 -
Codorus Valley Bancorp fired Dwight Utz, the head of its bank unit, "without cause" just a few weeks after reporting earnings of $12 million for 2017.
February 8 -
Patriot National in Connecticut planned to build a regional small-business lending operation on its own — until it had a chance to buy a national platform.
February 7 -
Patriot National in Connecticut would become the latest community bank to ramp up small-business lending with its $81 million deal to acquire Hana Financial's much larger SBA lending unit.
February 6 -
Seacoast Commerce is San Diego is already one of the biggest Small Business Administration lenders — half the loans on its books are tied to SBA programs. But will its underwriting hold up outside its traditional markets?
February 2 -
Credit union groups were scrambling Wednesday to respond to a letter from Senate Finance Committee Chairman Orrin Hatch questioning whether the industry had outgrown its income-tax exemption.
February 1 -
Thomas O’Brien made a series of aggressive cuts at Sun Bancorp in New Jersey before orchestrating its sale to OceanFirst.
January 31 -
The proposed legislation would give the agency authority to increase funding for the 7(a) program — with several caveats designed to manage exposure.
January 26 -
The proposed legislation would give the agency authority to increase funding for the 7(a) program — with several caveats designed to manage exposure.
January 26 -
The agency will issue proposed changes to the quarterly financial reporting system for a 60-day comment period. The aim is to streamline the 'backbone' of the regulator's examination data-collection efforts.
January 25 -
The Michigan company's earnings, excluding one-time items, increased meaningfully after it cut operating costs.
January 23 -
An economic correction is long overdue, the Ohio company says in explaining why now is the wrong time for long-term entanglements like mergers.
January 23 -
The results also included a large one-time benefit tied to recently passed tax reform.
January 23 -
There were no sighs of relief from bankers, who realize their planning could still prove useful as the potential for another shutdown looms.
January 22 -
The Arkansas company has spent two years trying to reassure nervous investors and analysts that it can rapidly book real estate loans using conservative practices.
January 18 -
Endeavor Bank, which raised nearly $27 million, will become the second new bank to open in California in the past year when it debuts next week.
January 17 -
The Arkansas company's net income topped $100 million for the first time, though it largely reflected the revaluation of its deferred tax liability.
January 16 -
The Iowa company was sidelined by a Fed order for 2,155 days. Finally free, Ambank is open to making an acquisition and offering its mortgage origination services to other institutions.
January 12 -
Banks that have flocked to the business because of higher yields and loan diversity stand to benefit if clients use tax savings to upgrade equipment.
January 10 -
The company tapped a new president for the business, which it will also rebrand, after hiring a team from Scottrade Bank in Missouri.
January 9
