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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America First Credit Union wants to grow 7(a) lending, but its expansion prospects depend on hiring more experienced lenders. That's proved a common challenge for other institutions as the Small Business Administration program continues to grow in popularity.
December 22 -
Provident Financial in Iselin initially anticipated completing its deal for Oak Ridge-based Lakeland Bancorp in the second quarter. Now as it waits for regulatory approval, Provident says the process will stretch into spring 2024.
December 21 -
Lincoln Savings Bank has tapped Sean Willett, chief administrative officer at Financial Institutions, as its next leader after a six-month search.
December 20 -
Led by veteran banker Stephen Gordon, Genesis Bank in Newport Beach, California, plans to use the funds pledged by private equity firms and other investors to roll up community banks in the Western U.S.
December 19 -
The changes include elevating several recently hired executives while eliminating nearly two dozen jobs and trimming annual operating expenses by $6 million.
December 15 -
The Michigan City company, part of a growing list of banks announcing similar overhauls, aims to sell nearly $400 million of securities and reinvest the proceeds in higher-yielding loans.
December 14 -
Yahoo Finance FeedCarter Bankshares in Martinsville, Virginia, is attempting to exit a longstanding relationship with West Virginia Gov. Jim Justice through a seldom-used collections tool that was at the center of a court hearing this week.
December 12 -
The 130-year-old Warsaw Federal Savings & Loan achieved a minority status after retooling its board this summer. Its CEO, who is also new to the job, has no plans to slow the pace of change at the depositor-owned bank.
December 8 -
The Ohio-based regional bank has laid out an ambitious expansion blueprint, including new health care asset-based lending, a Native American financial services unit and a push into commercial banking in North Carolina and South Carolina.
December 6 -
The Pennsylvania bank has agreed to sell its Exchange Underwriters subsidiary to World Insurance Associates for $30.5 million, saying that the deal will help pad its capital and liquidity.
December 4
