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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In its first three months as a bank, the Boca Raton, Florida-based NewtekOne doubled the size of its deposit base by relying almost exclusively on certificates.
April 6 -
Peapack-Gladstone Financial CEO Doug Kennedy is betting that giving his workforce the same hospitality training hotel employees receive will lead to better customer service and a healthier bottom line.
March 31 -
Rep. Nydia Velazquez, D-N.Y., the House Small Business Committee's ranking Democrat, said she'd like to see the Small Business Administration delay opening its flagship loan guarantee program to more nondepository lenders until it sorted out growing concerns about Paycheck Protection Program fraud.
March 27 -
The North Carolina bank's venture capital arm has recently taken stakes in two early-stage companies, including one aimed at helping independent pharmacists, after cashing out on two others last year.
March 22 -
After two high-profile failures and a liquidity scare, money is on the move from collapsed and suspect banks to destinations viewed as safer havens. Some banks say they're in position to score fresh funds, new customers and talented workers.
March 14 -
Buoyed by higher profits and an influx of deposits from prepaid corporate debit cards, Patriot National Bancorp appears to be nearing a deal that would boost its size and expand its digital-banking capacities, Chairman Michael Carrazza says.
March 14 -
The Bank Term Funding Program, rolled out by the central bank on Sunday night, offers par value for underwater securities that banks pledge to obtain short-term loans. Industry insiders expressed optimism on Monday that it will buy time for institutions that have been hit by rising interest rates.
March 13 -
The Philadelphia bank's new CEO says a planned infusion would let it update its branch footprint, technology and other resources as part of a turnaround.
March 10 -
The agency's blueprint calls for giving lenders added underwriting flexibility, as well as upping the number of for-profit nondepository small-business lending companies, which has been capped at 14 since the early 1980s
March 7 -
The activist investor is crying foul, claiming the Dallas-based bank harassed one of his board candidates into withdrawing and rejected the nomination of another. The bank says the candidates failed to make full disclosures.
March 3
