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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Timothy Zimmerman, who once called CECL a dangerous proposal, now sees a justification for the FASB standard. And he is urging bankers to start working on plans to comply with the change.
June 30 -
The $231 million-asset Virginia bank will also double its legal lending limit when it buys CCB Bancshares.
June 28 -
The NCUA is letting federal credit unions securitize and sell assets. Such transactions would free up capital at credit unions, allowing them to make more loans.
June 26 -
A proposal on the agency’s overhead transfer rate would simplify how state- and federally chartered CUs pay for examinations by evenly splitting the costs of safety-and-soundness and insurance-related concerns.
June 23 -
ES Bancshares, which recently sold a branch near Poughkeepsie, plans to open second branches in the two boroughs.
June 23 -
Chemical Financial was caught off guard by CEO David Ramaker's decision to retire. Fortunately, Chemical had retained Talmer Bancorp CEO David Provost after buying his bank a year earlier.
June 21 -
The CFPB and others believe alternative data could provide more credit to the unbanked. Small banks and credit unions, however, have lingering concerns about breaking from traditional underwriting.
June 20 -
The CFPB and others believe alternative data could provide more credit to the unbanked. Small banks and credit unions, however, have lingering concerns about breaking from traditional underwriting.
June 19 -
Casey Crawford, head of the rapidly growing Movement Mortgage, recently recapitalized First State Bank in Danville, Va., with his own money.
June 14 -
Beacon Community Bank aims to become the first bank to open in Charleston, S.C., in a decade.
June 8
