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 Bank Term Funding Program, rolled out by the central bank on Sunday night, offers par value for underwater securities that banks pledge to obtain short-term loans. Industry insiders expressed optimism on Monday that it will buy time for institutions that have been hit by rising interest rates.
March 13 -
The Philadelphia bank's new CEO says a planned infusion would let it update its branch footprint, technology and other resources as part of a turnaround.
March 10 -
The agency's blueprint calls for giving lenders added underwriting flexibility, as well as upping the number of for-profit nondepository small-business lending companies, which has been capped at 14 since the early 1980s
March 7 -
The activist investor is crying foul, claiming the Dallas-based bank harassed one of his board candidates into withdrawing and rejected the nomination of another. The bank says the candidates failed to make full disclosures.
March 3 -
In three years as a subsidiary of $3.2 billion-asset MVB Financial, Chartwell Compliance has tripled its headcount and revenues, MVB CEO Larry Mazza said Wednesday, after announcing Chartwell's sale to New York-based Ankura.
March 2 -
A group including Dr. Bernice King, Martin Luther King Jr.'s daughter, and former SBA Regional Administrator Ashley Bell says the deal struck Tuesday to acquire Holladay Bank & Trust in Utah marks the first time Black investors have acquired a non-Black bank.
February 28 -
Executives at Wayne Savings Bancshares and Main Street Financial grew progressively more comfortable with the idea of a deal during six months of talks, Wayne Savings CEO James VanSickle says.
February 23 -
Driver Management Principal Abbott Cooper said the Dallas company failed to foresee the spate of interest rate hikes that have cut its profitability. Following the bank's latest rebuff, Cooper is threatening legal action.
February 22 -
TD Bank estimates it hands out 20 million pens every year. Huntington is getting close to offering its 80 millionth pen. It's a way to get a bank's brand to travel with customers across the globe, but is it worth it?
February 21 -
Acquiring First Miami Bancorp would give the Greenville, South Carolina-based buyer three branches and nearly $900 million of deposits in the Southeast's biggest banking market.
February 14
