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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The Ohio community bank generated 76% of its 2020 revenue from the three-year-old business line. But mortgages are cyclical, and the bank wants to step back before things get rough.
July 6 -
Fringe Benefits Design in Bloomington, Minnesota, will become a consultant of the buyer's Benefit Plans Administrative Services unit.
July 2 -
Mark Schroeder will step down as chief executive after 22 years. He will be succeeded by Neil Dauby, the Indiana bank's president and chief operating officer.
July 2 -
The deal is expected to generate for significant cost savings that could Mid Penn could then use to fund its expansion in the Pittsburgh market.
July 1 -
The Fed’s decision to extend a key liquidity program keeps the prospect of additional Paycheck Protection Program loans alive through July 31.
July 1 -
Amerant Bank has invested $2.5 million in Marstone to provide a digital alternative to personal wealth advisors for new and existing clients. The technology "gets planning capabilities into the hands of any customer that wants them," says Jerry Plush, the Florida bank's new CEO.
June 28 -
Southern Bancorp, a community development financial institution, will devote part of a multimillion-dollar investment from the payments giant to developing technology that helps consumers budget, buy a home and more.
June 22 -
In buying the $1.5 billion-asset County Bancorp, Nicolet would become the second-largest bank in Wisconsin and the state’s No. 1 dairy lender. It's the second bank acquisition deal Nicolet has announced this quarter.
June 22 -
Acquiring Pilot Bank would allow the credit union to serve members who live or vacation in Florida. The deal is the fifth deal this year in which a credit union is purchasing a bank.
June 17 -
After agreeing in March to be sold to a Florida real estate firm, Sunnyside accepted a higher bid from one of its investors, Rhodium BA Holdings.
June 17 -
Bank lobbyists are once again calling on Congress to reexamine credit unions’ tax-exempt status, this time citing the proliferation of bank acquisitions by credit unions. So far, their pleas have gone largely ignored.
June 16 -
The lender's founder and CEO says the acquisition of Roscoe State Bank will give it new products and referral sources.
June 14 -
Southern Bancorp's CEO said money from Square would help his bank continue serving underserved communities.
June 10 -
Though the community bank has most of its branches in California and is buying a Florida bank, CEO Scott Kavanaugh is eager to pursue targets in the Lone Star State after moving the corporate headquarters to Dallas.
June 10 -
It's HBT Financial's first bank acquisition deal since its 2019 IPO.
June 7 -
The Dallas bank's $295 million acquisition of First Florida Integrity would give it its first presence on the East Coast.
June 3 -
Adding Community Bankers Trust would help United fill a key service gap between its branches in Northern Virginia and the Carolinas. It's United’s 33rd M&A deal under CEO Richard Adams.
June 3 -
Acquiring its local rival would give First Bank a commanding presence in Fayetteville and add to its presence in Raleigh, Charlotte and Wilmington.
June 2 -
In merging with First Midwest Bancorp, the Indiana company would finally gain a presence in the Midwest’s largest city.
June 1 -
First Midwest Bancorp in Chicago and Old National Bancorp in Evansville, Indiana, agreed to an all-stock merger-of-equals that would create a $45 billion-asset Midwestern regional player.
June 1
