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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Eagle Bancorp in Bethesda has agreed to pay $22.9 million to regulators to settle claims it failed to report loans totaling $99 million made to founder Ron Paul, who will pay more than $500,000 in fines in addition to being barred from the industry.
August 17 -
Farmers Bank plans to develop new revenue from home loans, despite seeing many bigger lenders flee the same market.
August 17 -
Millions of Americans have trouble accessing low-cost loans because they have thin or problematic credit histories. That could change as fintech innovations and new self-reporting tools give lenders troves of new data.
August 16 -
Harry Madonna, the Philadelphia bank's founder, has taken back the reins after its most recent CEO, Vernon Hill, said he was forced to resign.
August 11 -
Huntington Bancshares has hired Shawn Lough, a veteran Truist Financial banker and West Point graduate, to help guide the sales strategy and goals of its consumer and business banking operation. It also expanded the duties of Digital Director Mark Sheehan to include deposits.
August 9 -
Chairman and CEO Craig Dwight is counting on the Indiana company's new president, Thomas Prame, to pursue nonbank acquisition targets after it scooped up more than a dozen banks in the past decade.
August 9 -
Thomas Prame is leaving Old National Bancorp, which recently merged with his former employer First Midwest Bancorp, to join a smaller rival with aggressive growth plans.
August 5 -
BayFirst Financial in Florida is using gross — not net — income to calculate how much credit smaller enterprises can be granted. Company officials say the Paycheck Protection Program used that approach with great success, but others contend the practice is risky for private-sector lenders.
August 3 -
Flush with capital and touting its biggest loan pipeline ever, the nation’s No. 1 Small Business Administration 7(a) lender is laying plans to hire dozens of bankers away from competitors. It’s one of several companies seeking to expand at a time when others are likely to pull back on commercial lending.
July 29 -
The Maryland bank has lost 13% of its credit card customer base in the past year amid a flurry of marketing activity by newer players. But it is refusing to panic.
July 29
