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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Infrastructure will command most of lawmakers’ attention, but expect banks to keep pushing for bills that would ease the transition away from a key benchmark rate and help them serve legal cannabis businesses.
August 24 -
The ranks of depositor-owned banks have been dwindling for decades, but meat distributor Charlie Cumming has a plan for starting one that will serve organic farmers. Can it work?
August 24 -
Mid-Southern Bancorp angered several large shareholders after disclosing that it bought another’s shares for a hefty premium. The seller’s identity is unknown, but the bank’s shareholders include a number of prominent activists.
August 20 -
The agency's new platform can reach a decision on Paycheck Protection Program loan reimbursement in minutes and has handled hundreds of thousands of applications since its Aug. 4 debut. The original process required a lengthy form.
August 19 -
Cypress Bank & Trust is poised to open in Palm Beach, and longtime banker Stephen Gordon just launched Genesis Bank in Newport Beach. Meanwhile, two more groups have filed for de novos in August, bringing the list of pending applications nationally to 16.
August 13 -
Abbott Cooper, the head of Driver Management, says Codorus Valley Bancorp is not as profitable as its peers. Cooper, who has successfully forced the sale of at least two other banks, has indicated he's ready to launch a proxy fight.
August 10 -
Ann Arbor Bancorp had agreed to buy FNBH in February 2020 but backed off four months later amid economic uncertainty. The two sides have reunited, though the price tag rose.
August 9 -
First United Bank in Oklahoma bought a minority stake in Exencial Wealth Advisors instead of acquiring it outright to give the owners an incentive to stick around and help build the business — and to make it easier for the bank to bail if things don't work out.
August 5 -
Mutual banks tend to combine only with fellow mutuals. Spencer Savings' deal to acquire a stock-traded rival shows how the pressure to expand is forcing some buyers to get creative.
July 30 -
The Rhode Island bank is doubling down on the nation’s largest market after agreeing in May to buy dozens of branches from HSBC. Meanwhile, Investors Bancorp’s decision to sell itself underlines the challenges facing smaller regionals.
July 28
