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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Steve Steinour, the Ohio bank’s CEO, said the slowdown in car manufacturing due to the global chip shortage will continue to stifle loan demand in the months ahead.
October 28 -
Piermont Bank in New York expects to double its $347 million of assets in a year by extending working capital to financial technology companies. MainStreet Bancshares in Virginia is taking a different approach, hoping a new banking-as-a-service offering will help investors see it as more cutting-edge.
October 26 -
Building on four years of rapid growth in Dallas, Business First expects the acquisition to help it grow into a regional bank.
October 21 -
New enlistees typically lack credit histories, so the $1.2 billion-asset lender is using other transaction data to underwrite loans. It's a common practice among large banks and fintechs but rare for a community bank.
October 18 -
The lender will take a $21.6 million charge related to damage a customer sustained from Hurricane Ida, leading analysts to predict a major drag on earnings. So far, there is little indication that other banks have been similarly affected.
October 15 -
Genesis Bank, the second minority depository institution aimed at multiple demographic groups, says loan demand has far exceeded expectations and that it will seek additional capital to meet the credit of needs Asian, Black and Hispanic consumers in Southern California.
September 26 -
Russell Columbo will step down Oct. 31 after 15 years at the helm. The $4 billion-asset company has named its COO, Tim Myers, to succeed Columbo.
September 24 -
The institution, which dates to the mid-1800s, helped fuel the state’s growth during the 19th and 20th centuries. Its charter will cease to exist when it's sold to U.S. Bancorp.
September 22 -
By acquiring Citizens Union Bancorp, the Indiana-based German American will gain 11 branches and more than $700 million of deposits in Kentucky’s largest city.
September 21 -
The agency organized a vehicle seeded with $120 million from anchor investors — including Truist and Microsoft — enabling minority-owned banks and community development financial institutions to seek capital for development projects in underserved areas.
September 16
