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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Bruce Van Saun, the Rhode Island bank’s CEO, previewed a branch-light strategy in new markets like South Florida and Washington, D.C. Citizens recently closed acquisitions of Investors Bancorp and much of HSBC’s U.S. retail banking business.
April 19 -
Cleveland-based Ancora Holdings Group is picking up where it left off in 2019, calling for the sale of Middlefield Bancorp in northeast Ohio. Only this time Ancora says it's willing to initiate a proxy contest if management stands in the way of a possible transaction.
April 18 -
The Detroit company’s first-quarter results were highlighted by a 14% increase in car-loan originations. While executives expect credit quality to start normalizing, they also say that demand for vehicles will remain robust, with an estimated 4 million-5 million consumers still waiting on the sidelines.
April 14 -
The banking company did not say what policy longtime CEO Alan Thian violated, nor has it named a permanent successor. Thian has led RBB since it was founded in 2008.
April 13 -
The past two weeks have seen a flurry of deals wherein Truist, Capital One and others pitch their brand alongside professional teams and their stadiums.
April 12 -
The Philadelphia bank, headed by Vernon Hill, is already fighting two lawsuits from activist shareholder groups. It also risks being delisted by NASDAQ for indefinitely postponing the meeting.
April 6 -
Institutions are hiring aggressively or buying up competitors to take part in an equipment finance boom as the economy continues to heal.
April 4 -
The pilot program, which Small Business Administration head Isabella Casillas Guzman called a key tool for prioritizing more equitable access to capital, is getting a two-year extension along with a boost to its maximum loan size.
March 30 -
Burke & Herbert, which is based in Alexandria and has been in operation since 1852, has joined a long list of banks planting their flags in Richmond, where the overall deposit market has grown 32% in just five years.
March 23 -
Lynn Fuller, a onetime CEO of the Iowa company, called his ouster “retaliation” for publicly criticizing Heartland’s strategy. He had planned to step down as chairman in May.
March 18
