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.
-
After the Minneapolis-based company reported stubbornly high commercial deposit costs, it reduced its full-year forecast for net interest income by $200 million-$500 million.
By John ReostiApril 17 -
The Buffalo, New York-based bank set a goal four years ago to limit its commercial real estate loan portfolio to 160% of its capital and reserves, and it's closing in on that target, says Chief Financial Officer Daryl Bible.
By John ReostiApril 15 -
The giant custody bank convinced clients to park more money in accounts with the Boston-based company, prompting it to increase its full-year 2024 projections, Chief Financial Officer Eric Aboaf said.
By John ReostiApril 12 -
The beleaguered Long Island bank has recently seen at least 16 teams walk out the door, according to announcements by Dime Community Bancshares and Peapack-Gladstone Financial.
April 9 -
The decision to approve the fintech's application to make 7(a) loans came nearly a month after Funding Circle's U.K.-based CEO hinted it is considering a sale of its U.S. operations, alarming some members of Congress.
By John ReostiApril 4 -
Mergers have left Virginia without an independent statewide financial institution. Atlantic Union CEO John Asbury is trying to change that.
By John ReostiApril 1 -
VersaBank in London, Ontario, agreed nearly two years ago to buy a small Minnesota bank. The buyer's CEO says he remains hopeful approval will come soon.
By John ReostiMarch 27 -
Each spring during the rush of annual meetings, a handful of financial institutions take heat from shareholders who demand new strategies, management shakeups and, at times, even a sale of the company.
By John ReostiMarch 26 -
Funding Circle, one of the fintechs that received an SBLC license last fall, lost $5 million in 2023 and plans to focus on its U.K. operations. Republican skeptics of the SBA seized on this, and Administrator Isabel Casillas Guzman's renewed push for the agency to make direct loans.
By John ReostiMarch 21 -
Investing in Main Street Act has passed the House three times with overwhelming majorities but has failed to gain traction in the Senate. Backers, including banks that invest in the funds, hope to flip the script with a third version.
By John ReostiMarch 18