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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After focusing its de novo branching plans on the Carolinas in recent years, the Cincinnati-based bank is ready to shift its attention to Florida and — eventually — to Nashville and Atlanta.
December 7 -
Though the Phoenix-based Carvana has seen its share price plummet and sales weaken amid macroeconomic headwinds, Ally CEO Jeffrey Brown predicted the used-car retailer will "get through this" and remain an important source of business.
December 6 -
The New York bank's agreement to pay $204 million in stock for Salisbury Bancorp moves NBT into complementary markets in Connecticut and Massachusetts while boosting an already substantial wealth management operation.
December 5 -
With the final piece of its regulatory puzzle in place, Newtek, a business development company and the nation's No. 3 SBA 7(a) lender, plans to complete its acquisition of National Bank of New York City in January.
December 2 -
InBankshares has hired a former PacWest senior executive — its third leader to come from a regional bank — in a move aimed at bringing in the skills necessary to run a much larger institution.
November 30 -
The business development company, one of the top Small Business Administration 7(a) lenders, has been waiting since mid-2021 for regulators to sign off on its deal for a New York community bank. It hopes to get the final green light from the Office of the Comptroller of the Currency in time for a January closing.
November 28 -
Friendly Hills Bancorp will soon be called First Pacific — a name its CEO has coveted for years. First Missouri recently rebranded as Verimore, a name it made up by combining words from Latin and English. In both cases, the changes reflect the banks' expansion into new markets.
November 22 -
Savarese was drawn to a career in the financial services industry after witnessing firsthand how economic stability can improve the lives of others. She then spent 17 successful years running the Massachusetts mutual.
November 21 -
TAB Bank's debit account, which rewards users with partial stock shares, is boosting the company's appeal among consumers who are younger, tech-savvy and underbanked.
November 17 -
Burke & Herbert Financial Services in Alexandria, Virginia, plans to list its shares on the Nasdaq stock market — not to raise funds, but to boost its profile with investors.
November 16
