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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To date, only a handful of banks have become benefit corporations, but experts believe the number could rise as regulators become more comfortable with the concept.
April 13 -
The latest version of a new accounting standard for calculating loan-loss reserves would ease the burden on small banks, ICBA officials say. However, the ABA says it still fails to eliminate the biggest problem asking lenders to predict the future.
April 11 -
JPMorgan Chase, drawing from its experience in the Motor City, has created a $125 million program designed to help community development financial institutions make bigger investments in impoverished neighborhoods.
April 5 -
Several banks have recently purchased highly visible properties in strategically important markets, investing in real estate at a time when the industry is closing branches at a record pace. Low rates may be a factor, but many bankers are also trying to send a message to clients and prospects.
April 4 -
Even as an NCUA working group is trying to craft a supplemental capital proposal for credit unions, mutual thrifts are quietly courting their regulator for a similar measure of their own.
March 30 -
A recent meeting with the OCC is giving mutual thrifts hope that they can find a way to bring in more capital before the next recession. The OCC, while open to a solution, is keen to protect the rights of those institutions' deposit holders.
March 29 -
A tip from the public gave the National Credit Union Administration the idea to make a simple, yet meaningful, change Thursday to investment restrictions on federal credit unions.
March 24 -
California Republic Bancorp, which has been aggressively originating and securitizing auto loans for years, is keen on revving up the engine to expand from a 10-state area to a national platform.
March 22 -
A small Connecticut bank takes the plunge into mobile-friendly mortgages in a bid to turn an attractive pool of student-loan borrowers into lifetime customers.
March 17 -
Royal Bancshares of Pennsylvania, which spent three years righting the ship, is ready to poach bankers and clients who might be upset with recent consolidation in Royal's home state. While it could look at deals, Royal is primarily hoping to steal market share with a private-banking model, loan production offices and technology upgrades.
March 14
