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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Led by veteran banker Stephen Gordon, Genesis Bank in Newport Beach, California, plans to use the funds pledged by private equity firms and other investors to roll up community banks in the Western U.S.
December 19 -
The changes include elevating several recently hired executives while eliminating nearly two dozen jobs and trimming annual operating expenses by $6 million.
December 15 -
The Michigan City company, part of a growing list of banks announcing similar overhauls, aims to sell nearly $400 million of securities and reinvest the proceeds in higher-yielding loans.
December 14 -
Yahoo Finance FeedCarter Bankshares in Martinsville, Virginia, is attempting to exit a longstanding relationship with West Virginia Gov. Jim Justice through a seldom-used collections tool that was at the center of a court hearing this week.
December 12 -
The 130-year-old Warsaw Federal Savings & Loan achieved a minority status after retooling its board this summer. Its CEO, who is also new to the job, has no plans to slow the pace of change at the depositor-owned bank.
December 8 -
The Ohio-based regional bank has laid out an ambitious expansion blueprint, including new health care asset-based lending, a Native American financial services unit and a push into commercial banking in North Carolina and South Carolina.
December 6 -
The Pennsylvania bank has agreed to sell its Exchange Underwriters subsidiary to World Insurance Associates for $30.5 million, saying that the deal will help pad its capital and liquidity.
December 4 -
Banking advocates claim FDIC's proposed corporate governance guidelines could undermine their legal duty to shareholders, despite the agency's claim that the proposal wouldn't break new ground.
December 1 -
The seller, Merchants and Manufacturers Bank in Illinois, has experienced rapid growth and zero lifetime losses in its niche portfolio. First Busey says that business line was a key reason it decided to buy its in-state peer.
November 28 -
Arthur J. Gallagher & Co. has been a prolific acquirer, purchasing the insurance brokerages from multiple banks over the last year. Its management has indicated it has another $3.5 billion that it can use for more deals.
November 26
