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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Chemical Financial and Fidelity Southern are the latest banks to curtail auto lending, blaming trends in auto sales and overheated competition.
September 25 -
Grand Mountain Bank raised $7 million to help it exit the crisis-era capital program.
September 25 -
Who doesn't want cash back, and sooner than planned? Credit unions -- if it means they'll receive some $800 million less.
September 25 -
The agency and the National Association of Federally-Insured Credit Unions plan to boost efforts to get more credit unions involved with SBA lending.
September 20 -
David Dotherow, CEO of the newly formed Winter Park National Bank, stresses the need for strong management and a straightforward business plan when applying for a charter.
September 15 -
Chemical Financial's decision to shutter nearly 40 branches and cut more than 200 jobs is a result of improved technology and an effort to become more efficient after years of pursuing acquisitions.
September 13 -
The Michigan company said the branch closures will save it $20 million a year. It also plans to devote fewer resources to indirect auto, where returns have trailed other lending categories.
September 12 -
The agency has earmarked all funds from a Hurricane Harvey recovery package for direct relief, despite calls to get more bankers involved in the process. It remains to be seen how the agency will handle the cleanup for Hurricane Irma.
September 11 -
Quaint Oak in Pennsylvania is making a big push in real estate brokerage, a business that many state-chartered banks might think is illegal for them to pursue.
September 5 -
The Wisconsin company plans to shutter half of Bank Mutual's branches, including seven in Milwaukee.
September 1
