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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News of the delisting, prompted by ongoing delays related to filing its 2022 annual report, triggered a selloff of the Philadelphia-based company's battered stock.
August 22 -
Cambridge Savings Bank's Ivy Bank online-only unit has spent two years offering CDs and savings accounts. Meanwhile, Sumitomo Mitsui Financial Group's new digital bank, Jenius, launched with personal loans. Both want to widen their product sets to benefit both sides of the balance sheet.
August 18 -
Dan Sheehan, former CEO at Professional Bank in Coral Gables, said he's "putting the band back together" to spearhead his new, Texas-based employer's expansion plans in the Sunshine State.
August 16 -
Thomas O'Brien has gained a reputation for being able to salvage institutions on the brink of disaster. With his latest rescue job nearly complete, the fix-it specialist ponders his next move.
August 14 -
The Wilmington, Delaware, bank announced this week that it had purchased Bell Rock Capital. WSFS' management says that legal troubles involving that investment advisory firm's founder won't affect the transaction.
August 9 -
Texas State Bankshares has agreed to buy Estrada Hinojosa & Co., one of the nation's biggest municipal underwriting and advisory firms.
August 7 -
Critics complain a bill sponsored by the leaders of the Senate Small Business Committee would reinstate a moratorium on participation in the SBA's flagship 7(a) program by nondepository lenders. Supporters of the bill argue that widening the program could invite more fraud.
August 3 -
The Pittsburgh-based regional is leaning heavily on ATMs as part of a de novo expansion strategy in the lucrative Washington metropolitan region.
August 1 -
Big Poppy Bancorp has applied to the Federal Reserve to acquire up to 24.99% of Summit State Bank. Both institutions are headquartered in Santa Rosa. Combining them would create the city's biggest bank.
July 28 -
The Wilmington, North Carolina-based small-business lender is prepping a wider rollout of the business checking account it introduced in the first quarter. Chairman and CEO Chip Mahan said the move will allow the company to "nip at [its competitors'] edges as their customers feel less appreciated."
July 26
