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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Atlantic Union in Virginia made the most of its four-year foray into the registered investment advisory business, but it decided to take a step back after concluding one of its banking clients would do an even better job and that it could invest the proceeds elsewhere.
June 24 -
CEO David Boyle said that the change could provide the Alexandria company with better access to the capital markets and liquidity for shareholders.
June 23 -
Court-appointed custodian Alfred Putnam is seeking an extension of nearly three weeks to give more groups time to nominate candidates for a vacant board seat at the Philadelphia bank and solicit proxies from investors before a special meeting.
June 21 -
The purchase of Farmers & Stockmens Bank would create a bigger and more experienced Small Business Administration lending team to help the Kansas bank capitalize on a predicted spike in demand motivated by inflation and the prospect of a recession.
June 20 -
The Clayton, New Mexico-based Farmers & Stockmens Bank, has five branches across both states. The combined company would have assets of $6.2 billion.
June 14 -
Chief Credit Officer Randy Rapp, who helped guide CrossFirst Bankshares in Kansas through the pandemic, was named president of its bank subsidiary Thursday.
June 9 -
Amid a falling population in its home state of Pennsylvania, the bank is focusing more attention — and dealmaking — on the increasingly populous and affluent Raleigh-Durham market.
June 7 -
Though costly, Wednesday’s settlement brings the $11.2 billion-asset company a step closer to resolving legal and regulatory issues that have hampered it since 2019.
June 3 -
Shanika Sheppard needed funding to turn her Italian ice food cart into a larger business selling Philly cheesesteaks and other comfort foods. She's one of more than 520 small-business owners who’ve received loans of $150,000 or less under the bank's Lift Local program.
June 2 -
Prominent Philadelphia appellate attorney Alfred Putnam is charged with convening a special shareholder meeting to fill a vacant seat on the board. CEO Vernon Hill is competing with a four-member faction of the board — and two separate groups of activist investors — for control of the bank.
May 31
