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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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 -
Bank of America, JPMorgan Chase and other institutions — including more than two-thirds of honorees that made the Best Banks to Work For — show no let-up in their commitment to add transitioning service personnel. In fact, they're expanding their reach to include military spouses.
November 15 -
Spencer Savings in New Jersey is taking investor Larry Seidman to court, alleging he's conspiring with other customers to convert the bank to stock ownership. Seidman says it's a farce: "I'm in a conspiracy with people I don't know."
November 11 -
A proposed rule would end a 40-year moratorium on participation in the Small Business Administration's flagship 7(a) program by nondepository lenders. However, staffing constraints would limit the number of new licenses to just three at the start.
November 8 -
The $7.1 billion-asset bank has established a partnership with the nonprofit HoneyBee that harks to its early days serving underbanked Korean business owners in Los Angeles in the early 1980s.
November 3
