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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The comment period on NCUA's notice of proposed rulemaking on alternative capital ended last week, and judging by the letters, another battle is brewing.
May 15 -
One Bank & Trust in Arkansas just sold itself to the Treasury, resolving a legal judgment and clearing the way for a resale to the private sector.
May 9 -
Five Star Bancorp in California is the latest bank to work with a marketplace lender on referrals. The move comes as the SBA programs have record volumes while concerns linger about banks working with third parties.
May 5 -
The company's earnings fell 20% from a year earlier, reflecting $5 million in restructuring charges and a higher loan-loss provision.
May 3 -
Rusty Cloutier had been CEO of MidSouth Bancorp for 32 years. Energy-sector woes helped do him in.
April 28 -
The New Jersey company's profit growth was constrained by an 11% increase in compensation and benefits and an 85% jump in consulting fees tied to compliance and other issues.
April 28 -
The Westbury, N.Y., company is angling for an acquisition as it approaches the $50 billion-asset mark.
April 26 -
The Georgia company invested in HCSB Financial's recapitalization a year before agreeing to buy the coastal South Carolina bank. Doing so allowed United to stay to close to HCSB and its board, which helped when the time came to discuss a deal.
April 25 -
Merger-related expenses cut into the Pittsburgh company's earnings, though management is excited about growth opportunities in North Carolina.
April 25 -
The Wisconsin regional's profits rose 35% in the first quarter on healthy loan growth, wider margins and an improved efficiency ratio, and it said its "satisfactory" CRA rating had been restored.
April 20 -
Mariner Kemper, UMB's chief executive, said he struggled with the decision to sell Scout Investments to Raymond James. Selling made more sense than pumping more capital into the beleaguered business.
April 20 -
The Office of the Comptroller of the Currency has given preliminary conditional approval for Winter Park National Bank, allowing organizers to work on office space, hire staff and raise capital.
April 20 -
Huntington, Wintrust and Eagle reported extremely low quarterly chargeoff ratios, and their CEOs say they remain confident about the future. But, as one observer says, "ultimately some sector is going to get overextended."
April 19 -
The Ohio company said it is retaining more FirstMerit deposit accounts than it had projected. At the same time, Huntington is moving forward with cost-cutting tied to the acquisition.
April 19 -
A 9% increase in net interest income more than offset rising expenses at the Kansas City, Mo., company.
April 13 -
The trade association's lawsuit challenging new field-of-membership rules may have the opposite effect, as more credit unions consider expansion before the litigation is resolved.
April 13 -
Carter, who built what became Carter Bank and Trust from the ground up, was praised for his “uncanny” credit acumen, devotion to community and family, and willingness to take unconventional risks.
April 11 -
Linda McMahon told lawmakers the 7(a) program shouldn't run out of funds in fiscal 2017. Still, she wants permission to boost the program's funding authority by 15% if an unexpected spike in demand takes place.
April 10 -
Linda McMahon told lawmakers the 7(a) program shouldn't run out of funds in fiscal 2017. Still, she wants permission to boost the program's funding authority by 15% if an unexpected spike in demand takes place.
April 7 -
The Houston company was formed in 2009 to buy struggling banks in the wake of the financial crisis.
April 5
