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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Cogent Bank in Orlando says it took two branches in the Southwestern part of the state less than three years to amass $400 million of deposits.
June 1 -
Led by Chairman Marshall Reynolds, the entire board of directors participated in a private placement that raised $10 million for the Hammond, Louisiana, company.
May 30 -
A pair of mutual banks in Maryland and New York that sold minority stakes more than a decade ago are pursuing second-step offerings that will result in both becoming fully stock-traded companies.
May 24 -
The Seattle bank is a victim of the short selling that has rocked the banking industry this year and its stock price doesn't reflect its fundamentals, CEO Mark Mason argues.
May 22 -
After the departure of a key Small Business Administration official, lawmakers from both parties are calling on the SBA's chief to delay rules that could open the agency's biggest lending program to more nonbanks — or even consider reversing the changes.
May 18 -
The Philadelphia bank's CEO says it will wait for a more favorable time to pursue a planned $125 million capital raise, while the leader of an activist group blasted the decision and announced the renewal of proxy and legal fights.
May 16 -
The de novo institution is offering treasury management and depository services to the fragmented nail-and-beauty segment. Management has hopes this will bolster its relationship banking and liquidity.
May 11 -
A recent Bank of America survey found many small businesses forecasting increased revenues and planning to add workers, but a canvass by Biz2Credit indicated they'll struggle to secure credit.
May 9 -
The Philadelphia-based company will eliminate an undisclosed number of jobs as part of a plan to refocus on core business lines and markets, CEO Thomas Geisel said.
May 5 -
The fund, which aims to create a self-sustaining, nationwide secondary market for CDFI microloans, has made progress, but it remains far short of its goal, its managing director said.
May 5
