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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Driver Management says CEO Vernon Hill’s aggressive deposit-gathering strategy is not paying off for shareholders and wants the company to merge with a bank that would deploy the deposits into higher-yielding loans.
December 10 -
Facing a lawsuit from a disgruntled investor, the Arkansas company has released additional information about how it arrived at the $919 million price it’s paying for Happy Bancshares.
December 9 -
The proceeds will support Silvergate’s network that facilitates cryptocurrency transactions and a leveraged lending product that provides loans collateralized by bitcoin.
December 8 -
The deal for Summit Financial furthers First Financial’s strategy of acquiring national niche business lines.
December 7 -
The Georgia bank estimates that it will save $12 million annually by shutting down 40 branches.
December 7 -
The transaction will enable possible acquisitions and provide cost savings of $500,000 a year by allowing the Virginia bank to redeem a block of higher-cost notes.
December 3 -
The prepaid card issuer Green Dot backed out of the deal for fear of inheriting a regulatory problem. Republic plans to pursue a separate legal challenge alleging breach of contract.
December 3 -
The $129 million deal for Rahway-based RSI would give Columbia a stronger presence in Union and Middlesex counties.
December 2 -
The sale could end minority ownership for Alamerica Bank in Alabama, further reducing the number of Black-owned banks in the U.S.
December 1 -
Friendly Hills Bancorp's board is due for a shake-up after its management team underperformed for more than a decade, says shareholder Frank Kavanaugh.
November 24
