John Reosti

Activist investor Abbott Cooper, who has been locked in a battle with management at AmeriServ Financial for more than a year, plans to nominate former Amalgamated Financial head Keith Mestrich in a bid to end the impasse.

A proposed settlement between the Philadelphia-based community bank and an activist investor group that has waged a nearly two-year battle for control also calls for overhauling the board of directors.

The two branches Julie Celozzi oversees for the Orlando, Florida, bank amassed $400 million of deposits in three years. Such production is often a steppingstone to bigger things, but Celozzi — who began as a part-time teller in high school — says she is "hooked" on branch banking.

With a week left in its 2023 fiscal year, the Small Business Administration has already approved 12% more 7(a) loans than last year. Larger banks were among the biggest gainers as a result, according to the agency's latest data.

Boston-based Eastern Bankshares says its premium on the sale of Eastern Insurance Group will help fund the acquisition of Cambridge Trust and build a wealth management powerhouse. But some analysts point out more revenue is being sacrificed than gained.

Denver-based InBank will expand into Georgia and Arizona, part of a wider plan to seize market share and build what one executive called a top-tier SBA lender.

Commercial real estate loans are a growing area of concern for banks. But OceanFirst says its exposure to a troubled shared credit tied to a Manhattan office building isn't a sign of broader problems in its portfolio.

Despite an industrywide rough patch, EverBank still sees promise in the niche business line. The Jacksonville, Florida, company has hired a pair of prominent industry experts to lead a new division tasked with serving investment funds.

Executives at the Columbus, Ohio-based regional bank were convinced by a presentation Veuu, the solution's developer, made earlier this year.

The New York-based company announced the launch of a health care lending unit after capitalizing on recent bank failures to add seven deposit-focused banking groups this spring and summer.