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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Cypress Trust in Palm Beach is poised to pull off a rarity: the conversion of a wealth management firm into a community bank. It’s simply another way to take advantage of the ongoing melding of the two financial services sectors, CEO Dana Kilborne says.
May 22 -
The Small Business Administration’s sluggish pace in forgiving the biggest Paycheck Protection Program loans is straining relations between banks and some borrowers.
May 20 -
The Massachusetts bank, which traditionally In contrast to its typical strategy of supporting low-income housing, the invested $500,000 in CEI Ventures’ Coastal Ventures V fund to support small businesses in disadvantaged communities.
May 20 -
American State would be the largest bank buyout for Equity, which has acquired 17 banks since 2003.
May 17 -
Michael Butler relied on partnerships with tech startups in areas such as checking and mobile banking to turn Radius into a digital-only bank before its sale to LendingClub. As the new CEO of Grasshopper Bank, he plans to strike similar deals to expand beyond business lending.
May 14 -
Princeton Portfolio Strategies Group would become the sixth asset management business that the New Jersey banking company has bought since 2014.
May 13 -
The Pennsylvania company will offer commercial loans and treasury management services after hiring bankers in Dallas and Orlando.
May 12 -
The change reflects the name of the Susser family, which bought the bank in 2018.
May 12 -
The Denver company, which has branches in El Paso, will gain more locations in cities such as Dallas and Austin with the pending purchase.
May 12 -
Less than two years after shutting down its biggest business amid fraud allegations, the Michigan company has sold branches, settled a shareholder lawsuit and returned to profitability under turnaround specialist Thomas O’Brien.
May 7
