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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Financial institutions in several Southeastern states had braced for impact of the Category 3 hurricane. Bank and credit union executives in Florida and Georgia say their facilities generally weathered the storm but that some communities they serve face substantial recovery efforts.
August 31 -
The Department of Justice cited American Bank of Oklahoma's lending record, as well as racially inflammatory emails it claims bank employees forwarded, in support of its redlining claims.
August 29 -
Burke & Herbert Financial Corp. and Summit Financial Group announced a transaction that they described as a merger of equals valued at roughly $371.5 million in stock.
August 25 -
Forget special offers, ubiquitous branches and promises of convenience. Younger clients want to see state-of-the-art technology and hear good things from friends and family, according to a recent Arizent survey.
August 23 -
News of the delisting, prompted by ongoing delays related to filing its 2022 annual report, triggered a selloff of the Philadelphia-based company's battered stock.
August 22 -
Cambridge Savings Bank's Ivy Bank online-only unit has spent two years offering CDs and savings accounts. Meanwhile, Sumitomo Mitsui Financial Group's new digital bank, Jenius, launched with personal loans. Both want to widen their product sets to benefit both sides of the balance sheet.
August 18 -
Dan Sheehan, former CEO at Professional Bank in Coral Gables, said he's "putting the band back together" to spearhead his new, Texas-based employer's expansion plans in the Sunshine State.
August 16 -
Thomas O'Brien has gained a reputation for being able to salvage institutions on the brink of disaster. With his latest rescue job nearly complete, the fix-it specialist ponders his next move.
August 14 -
The Wilmington, Delaware, bank announced this week that it had purchased Bell Rock Capital. WSFS' management says that legal troubles involving that investment advisory firm's founder won't affect the transaction.
August 9 -
Texas State Bankshares has agreed to buy Estrada Hinojosa & Co., one of the nation's biggest municipal underwriting and advisory firms.
August 7
