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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Following the departure of longtime chairman and CEO Dan Sheehan, the company has chosen Abel Iglesias, president of Professional’s bank subsidiary, as the new CEO. Meanwhile, director Herbert Martens has become nonexecutive chairman.
February 25 -
Buying BT Holdings in Texas will take the Louisiana bank close to the size where it would face increased regulatory scrutiny and a reduction in interchange revenue.
February 24 -
The Los Angeles bank did not explain what it is investigating. It announced record annual earnings of $56.9 million in January, but news of the investigation and the uncertainty around CEO Alan Thian sent its stock price downward by 15%.
February 22 -
The Small Business Administration had to stop 504 lending for several weeks in September after it reached its fiscal 2021 funding cap. Bankers worry that it will shut down again this year — as early as June.
February 18 -
As more consumers shop and bank online, Texas Capital and its rivals are competing for market share with concepts such as an American Airlines savings account that offers miles instead of interest and one that pays a 0.70% annual percentage yield, beating the national average of 0.06%.
February 15 -
The Pennsylvania bank expects to generate $1 billion in loans this year from new lines of business focused on broker-dealers, insurance companies and more.
February 10 -
One group seeks a change in leadership, the other a sale of the Philadelphia community bank, which is led by Vernon Hill. Both are ratcheting up their campaigns against the board.
February 8 -
The Independent Bankers Association of Texas has developed a social network for users nationwide to share their experiences with technology upgrades, as an alternative to hiring an expensive consultant.
February 7 -
The group is urging the board of directors to oust Hill, the chairman and CEO, and replace him with Greg Braca, the former CEO of TD Bank’s U.S. operation. In December, another investor launched its own campaign to drive change at the Philadelphia bank.
February 2 -
Maria Tedesco, the bank's president, added the role of chief operating officer with a mission of unifying workflows from the back office to front end. This frees up CEO John Asbury to augment Atlantic Union’s fintech investments and scout for potential acquisitions.
February 1
