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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Evans Bancorp in New York believes the business is ill-suited for community banks and that it can draw unwanted attention from regulators.
November 1 -
The OCC has terminated orders against three of Fulton's banks. The company and two other banks still have BSA-related orders.
October 30 -
Many institutions have delayed planning for a big change to reserve accounting despite a belief that they should start testing systems and methodologies next year.
October 27 -
Huntington executives are surprised that chargeoffs are still so low and say they're prepared for things to get worse, yet they remain aggressive in auto and other categories. The juxtaposition is a sign of the times for lenders.
October 25 -
A planned spinoff, combined with several new ventures, should help BankMobile turn the corner, says Luvleen Sidhu, the digital-only bank's president.
October 25 -
The Michigan company's third-quarter results were down slightly from a year earlier despite increased commercial lending and a wider net interest margin.
October 24 -
The company, which will officially report results later this week, took hits tied to its planned spinoff of BankMobile and losses tied to an overseas investment.
October 23 -
The Wyomissing, Pa.-based firm is forgoing cash offers in favor of a more complicated plan that involves spinning the unit off to shareholders, who will then trade their stakes for shares in a Clearwater, Fla., community bank in a tax-free exchange.
October 20 -
The Connecticut company, which is nearing the threshold to become a systemically important financial institution, has bought three businesses in the past year.
October 19 -
Robust growth in net interest income, combined with a lower provision for loan losses, helped boost Webster Financial Corp.'s profits to a record $62.4 million in the third quarter, 26% higher than a year earlier.
October 19 -
The Illinois company, four months removed from its last bank acquisition, just announced the biggest purchase in its history. Alpine Bancorp. will add low-cost deposits and scale to Midland States' wealth management business.
October 18 -
The company, which plans to change its name to Hancock Whitney next year, reported increased profit that reflected balance sheet growth.
October 18 -
TD Bank has pledged $3 million to provide credit counseling to small-business owners. The hope is that those owners will use commercial loans to replace personal credit cards and home equity as their primary forms of business funding.
October 17 -
Efforts to make it easier for small businesses to apply for SBA loans, coupled with key community banks' outreach initiatives, contributed to the third consecutive record for 7(a) lending, but credit union participation is still lagging.
October 13 -
Efforts to make it easier for smaller businesses to apply for SBA loans, coupled by concerted expansion efforts among key regional and community banks, contributed to the third consecutive record for 7(a) lending.
October 11 -
The company, which is still recovering from two recent hurricanes, said it will voluntary comply with several key restrictions that were in the 2010 written agreement.
October 6 -
Metropolitan in N.Y. plans to use its IPO proceeds to fuel CRE and commercial loan growth
October 5 -
The agency has a relatively new program designed to quickly get funds into disaster-stricken areas. The problem is that many banks and credit unions don't know it exists.
October 5 -
The focus has been on CUs getting at least some of their corporate stabilization assessments back earlier than expected, but NCUA's real goal is to prop up the Share Insurance Fund.
October 3 -
The NCUA is proposing a special payout of up to $800 million to credit unions next year, which may boost lending. Banks were uncharacteristically silent on the plan.
October 2
