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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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.
May 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.
May 22 -
The Small Business Administration is implementing a freeze on new Community Advantage lenders, citing a surge in problem loans. The program grew during the previous administration as part of a push to expand the access that entrepreneurs who are members of disadvantaged groups have to capital.
May 21 -
The Connecticut-based community bank announced a raft of new board and executive appointments, giving shape to a new strategy aimed at winning more business from high-net-worth individuals.
May 19 -
MainStreet Bancshares in Fairfax hopes investors will endorse its plan to refocus on basic community banking after shuttering its embedded banking unit. But a prominent shareholder is urging management to sell.
May 15 -
Richmond, Virginia-based Atlantic Union is still integrating its recent acquisition of Sandy Spring Bank in Maryland. But CEO John Asbury has already begun plotting a new expansion course.
May 13 -
Citizens & Northern's deal for Susquehanna Community is the eighth involving a Pennsylvania seller in less than two years. An industry consultant based in the Keystone State expects the pace to slow as the number of buyers dwindles.
May 12 -
While Vista Bank is focusing on organic growth in Florida, it's positioning itself as a Texas buyer.
May 9 -
Investors seemed to agree with CEO Barry Sloane's argument that strong earnings will outweigh a jump in nonaccrual loans.
May 7 -
Eliminating overdraft charges is Stearns Bank's latest move to limit fees that its customers pay. CEO Kelly Skalicky says deposit service fees aren't a good business model.
May 6 -
Acquiring Country Club Bank would give Omaha-based FNBO 30 branches and nearly $3 billion of deposits in one of the Midwest's biggest markets.
May 2 -
The Small Business Administration is backing new legislation that would double the size limit on its manufacturing loans. Supporters say the bill has support on both sides of the aisle in Washington.
May 1 -
First Savings Financial Group could have bailed out of SBA lending after the departures of key executives and loan officers. Instead it retooled the unit, and it's now reaping the benefits.
April 30 -
The all-cash deal would solidify the $50 billion-asset regional bank's position in the fast-growing Lone Star State and offer double-digit earnings accretion.
April 28 -
The acquisition of the $5.7 billion-asset HarborOne Bancorp would be Eastern's third purchase of a Boston-area bank in the last five years.
April 25 -
The Washington, D.C.-area bank reported a significant boost in provisions to cover emerging vulnerabilities in its $1 billion portfolio of office loans.
April 24 -
BCB Bancorp in Bayonne, New Jersey, swung to an $8.3 million loss in the first quarter due to a troubled cannabis loan. The crowded weed marketplace in the New York area is leading to tighter margins.
April 23 -
The Evansville, Indianapolis-based company now expects to complete its $1.4 billion acquisition of Bremer Financial in Minnesota on May 1, instead of mid-year.
April 22 -
MainStreet Bancshares in Fairfax has closed its banking-as-a-service subsidiary after the unit fell far short of meeting its revenue and deposit targets.
April 21 -
The Ohio-based regional bank is poised to outperform in the second quarter after coming close to "hitting on all cylinders" during the first three months of the year, CEO Steve Steinour said.
April 17
