John Reosti

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.

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.

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.

The deal between associations in Pennsylvania and Maryland will create a $5.9 billion-asset lender called Horizon Farm Credit.

Seiffert, who succeeded longtime CEO William Wagner, orchestrated the company’s entry into Indiana and the sale of its insurance unit. Northwest reported a record $161.9 million profit in 2021.

Acquiring the 151-year-old PCSB would give the buyer its first presence in the deposit-rich metro New York marketplace. After the $313 million deal closes, Brookline will operate two separately chartered subsidiaries in addition to its namesake bank.

Corrigan thrived on crisis situations, a colleague said. He received plenty of practice in 25 years at the Fed and another two decades at Goldman Sachs.

The lawsuit filed by the Philadelphia company's CEO claims an opposing board faction lacks a quorum. Hill seeks to bar the group from reinstalling founder Harry Madonna.

RBB Bancorp says it's investigating complaints by its former vice chairman, who stepped down along with another director, about potential conflicts of interest involving other members of the board.

Grain Technologies guarantees to cover fraud costs for the banks it works with. One of those partners, the $1.65 billion-asset Ponce Financial, recently disclosed just how high that figure has reached.

A U.S. District Court ordered the Philadelphia-based bank, headed by Vernon Hill, to respond by Monday to Driver Management’s claim that its board improperly postponed a May 10 shareholder meeting.

After failing to win funding for a direct-lending program last year, Small Business Administration chief Isabella Casillas Guzman says the agency continues to study the option because banks and credit unions are making fewer small-dollar 7(a) loans than several years ago.

First Century Bancorp has terminated its sale to First Internet Bancorp because the two banks were unable to close the transaction on schedule and failed to agree on terms for an extension.

The new hires joined Veritex from Bank of Houston, which has also been aggressively recruiting bankers.

Lendistry, a fintech community development financial institution, obtained a license that allows it to become one of the few nondepository lenders with access to the Small Business Administration's flagship lending program.

The Columbus, Ohio, bank, which already makes more loans than any other lender in the Small Business Administration's flagship program, is testing a plan to offer them outside of its Midwestern footprint.

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.

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.

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.

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.