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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Regulators' decision to lift a seven-year-old cap on the size of the megabank's balance sheet will produce benefits over the long haul, but it won't result in any sudden gains, according to CFO Michael Santomassimo.
By John ReostiJune 10 -
NB Bancorp's deal for Provident Bancorp is the fourth announced in the Bay State since December. It comes nearly three years after bad crypto mining loans led to massive losses at Provident.
By John ReostiJune 6 -
Main Street Financial's ouster of James VanSickle came three months after its chairman characterized the company's financial performance as being "on the upswing."
By John ReostiJune 5 -
Freedom Bank is rolling out Freedom@Work, which offers perks for employees of participating companies, as part of a wider strategy to attract more consumer deposits.
By John ReostiJune 4 -
Oxford Bank appears poised to reap benefits from a substantial investment in building out its commercial finance subsidiary. The business, which provides credit to companies that aren't a good fit for bank loans, has moved into the banking mainstream over the last 15 years.
By John ReostiJune 3 -
The transaction comes as the megabank is determined to simplify its operating model and shed units that have slower growth prospects or aren't core to its business.
By John ReostiMay 30 -
Princeton Bancorp, which has $2.3 billion of assets, reported a sizable impairment charge tied to participation loans on a pair of office properties.
By John ReostiMay 29 -
What if the guiding narrative of 2,000 years of human history was a slow march toward the worship of money? A new book by Paul Vigna argues that we could fix this problem if we declared an old-fashioned jubilee and simply erased all debts.
By John ReostiMay 29 -
Citadel Credit Union is joining the small cadre of credit unions active in the Small Business Administration's biggest loan program as it seeks to expand in its small-business-rich footprint.
By John ReostiMay 27 -
A pair of GOP-sponsored bills would modify three of the agency's major programs in hopes of making more capital available to manufacturers.
By John ReostiMay 22