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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The $417 million agreement would give Richmond, Virginia-based Atlantic Union Bankshares "the critical mass" it needs in its home state and neighboring North Carolina, according to CEO John Asbury. He and his counterpart Jeff Haley at American National Bankshares in Danville, Virginia, describe each other as longtime pals.
July 25 -
Chairman and CEO Chris Gorman said Key's reduction efforts were prompted by an expectation big banks will be expected to operate with significantly lower loan-to-deposit ratios going forward.
July 20 -
Several community banks noted an uptick in problem loans in second-quarter earnings reports. Small lenders should brace for more of this, industry observers noted.
July 19 -
Executives say Bank of New York Mellon can maintain its upbeat forecasts on net interest income and perhaps beat its expense-control goals. However, they warn deposits could shrink in the second half.
July 18 -
The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.
July 14 -
Isabella Guzman, the administrator of the Small Business Administration, skipped a congressional hearing called to discuss the wide disparity in the level of fraud calculated by her staff and a parallel examination conducted by SBA's Office of the Inspector General.
July 14 -
With no settlement in sight, Spencer Savings Bank's case against a group of former depositors it says conspired with Larry Seidman to force a conversion appears headed for a courtroom battle.
July 13 -
The Cleveland-based regional bank recently announced a $20 million line of credit for Lendistry, a Los Angeles-based, minority-led community development financial institution.
July 10 -
Dallas-based Texas Capital Bank believes virtual credit cards, offered through a new fintech partnership, can help small-business customers make their payment processes more efficient.
June 28 -
After working for the Federal Deposit Insurance Corp. for a decade, Marc Minish was determined that he could open his own institution. Now he is the primary organizer of the proposed Nova Bank in Huntsville, Alabama, which has received conditional regulatory approval.
June 23
