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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Coastal Financial's decision to report a material weakness won't impact previously disclosed bottom-line results, though it creates bad optics for the Everett-based company.
March 18 -
London-based OakNorth has amassed a sizable U.S. loan portfolio and had been seeking a U.S. charter to simplify its funding model.
March 17 -
Finwise Bancorp believes a new plan to hold more of the fintech loans it originates on its balance sheet will boost profits in 2025.
March 14 -
Disaster relief is capturing a large share of philanthropic giving from banks such as Truist Financial and Western Alliance Bank.
March 12 -
Five Star Bank's parent company denied wrongdoing but said the agreement spares it the uncertainty and expense that might have resulted from a trial.
March 10 -
The 10-year-old lender, which reported a double-digit jump in profits, is benefiting from what its CEO called "animal spirits" at work on this side of the Atlantic.
March 10 -
The New Jersey bank, which has been investing in its capital markets business, recently helped the fintech lender Best Egg securitize and sell $160 million of loans.
March 6 -
Independence Bank can cease operations once it satisfies the conditions in an FDIC consent order. Liquidation would close out a five-year drama that began when regulators cited the bank for SBA lending irregularities.
March 4 -
The $15 billion-asset Seacoast is paying a hefty premium, but CEO Charles Shaffer called Heartland Bancshares an "incredibly valuable" franchise.
February 28 -
The Canadian bank's U.S. unit is restructuring its balance sheet and managing the fallout of anti-money-laundering compliance failures, but there were some positive indicators in last quarter's results.
February 27
