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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Six weeks after receiving a $237.5 million investment from the Treasury Department, the community development financial institution has struck a deal for Premier Bank of Arkansas.
January 31 -
The Massachusetts bank is purchasing a fellow Bay State institution's pot banking operation and says one of its first steps will be encouraging dispensaries to accept credit and debit cards.
January 27 -
A few months ago bankers were more hopeful than confident about an end to depressed demand for business credit. Now CEOs at Huntington, Fifth Third, Mercantile Bank and other companies are touting strong fourth-quarter loan growth, burgeoning pipelines and local job creation as reasons for optimism.
January 23 -
Fourth-quarter profits rose 10% at the Cleveland company as investment banking income hit a record and nonperforming loans plummeted. Executives say charge-offs will probably start rising in late 2022 but that fee income from capital markets transactions will keep growing.
January 20 -
The Boston company is forecasting larger earnings growth in the first year after closing its $3.5 billion deal than it projected in September. On the flip side, the acquisition will take longer to close than initially expected.
January 20 -
The Mississippi bank’s addition of more than a dozen bankers last year helped drive a $250 million increase in new loans during the fourth quarter. To keep the momentum going, CEO John Hairston said he intends to hire aggressively in 2022.
January 19 -
David Felan was most recently an executive vice president at Texas Capital Bancshares. In his new role, he will oversee the Kansas bank's expansion in the Lone Star State's hottest markets.
January 14 -
OneUnited's new installment-loan product is meant to break customers out of a cycle of debt. It will compete with similar offerings from heavyweights like Wells Fargo, Bank of America and Huntington.
January 13 -
There was an estimated $80 billion of fraud in the Economic Injury Disaster Loan program, which the Small Business Administration managed on its own. Republicans argue that's evidence the agency is unsuited to make direct loans, as the White House wants it to do.
January 12 -
Newity was founded to buy and administer Paycheck Protection Program loans. Now that the program has ended, the company is teaming with a bank on a platform that offers Small Business Administration 7(a) loans.
January 7
