John Reosti

The lender will take a $21.6 million charge related to damage a customer sustained from Hurricane Ida, leading analysts to predict a major drag on earnings. So far, there is little indication that other banks have been similarly affected.

Genesis Bank, the second minority depository institution aimed at multiple demographic groups, says loan demand has far exceeded expectations and that it will seek additional capital to meet the credit of needs Asian, Black and Hispanic consumers in Southern California.

Russell Columbo will step down Oct. 31 after 15 years at the helm. The $4 billion-asset company has named its COO, Tim Myers, to succeed Columbo.

The institution, which dates to the mid-1800s, helped fuel the state’s growth during the 19th and 20th centuries. Its charter will cease to exist when it's sold to U.S. Bancorp.

By acquiring Citizens Union Bancorp, the Indiana-based German American will gain 11 branches and more than $700 million of deposits in Kentucky’s largest city.

The agency organized a vehicle seeded with $120 million from anchor investors — including Truist and Microsoft — enabling minority-owned banks and community development financial institutions to seek capital for development projects in underserved areas.

The White House and key lawmakers want to allocate $4.5 billion for smaller 7(a) loans that would be made by the Small Business Administration. The financial services industry says the government should collaborate with the private sector rather than compete with it.

Rochelle State Bank is flush with capital after a group led by investor Rajib Das purchased the bank from its longtime owner in June. Das says his priority is boosting lending locally, but he is also planning to invest heavily in technology and mulling acquisitions.

Its $53 million purchase of Pacific Enterprise Bank would be BayCom's 10th bank acquisition since 2010.

James Kim will succeed James Ford, who is retiring, as chief executive.

First US in Birmingham will take a $1.2 million third-quarter charge to close the subsidiary. It plans to recoup the expense by focusing on commercial and indirect lending.

It started with an email suggesting there would be consequences for lenders that failed to use the Small Business Administration’s website to handle forgiveness applications for Paycheck Protection Program loans. Then lawmakers got involved.

With its sale to Blue Ridge Bankshares set to close within months, FVC Bankcorp is moving to diversify by taking a 29% stake in Atlantic Coast Mortgage.

There's still a month left in the federal government's fiscal year, and the Small Business Administration's 504 program is perilously close to hitting its congressionally mandated funding limit for new loans.

The sale to the Florida-based insurer Brown & Brown would give Berkshire Hills Bancorp an infusion of capital that it intends to invest in more profitable businesses, executives said.

Infrastructure will command most of lawmakers’ attention, but expect banks to keep pushing for bills that would ease the transition away from a key benchmark rate and help them serve legal cannabis businesses.

The ranks of depositor-owned banks have been dwindling for decades, but meat distributor Charlie Cumming has a plan for starting one that will serve organic farmers. Can it work?

Mid-Southern Bancorp angered several large shareholders after disclosing that it bought another’s shares for a hefty premium. The seller’s identity is unknown, but the bank’s shareholders include a number of prominent activists.

The agency's new platform can reach a decision on Paycheck Protection Program loan reimbursement in minutes and has handled hundreds of thousands of applications since its Aug. 4 debut. The original process required a lengthy form.

Cypress Bank & Trust is poised to open in Palm Beach, and longtime banker Stephen Gordon just launched Genesis Bank in Newport Beach. Meanwhile, two more groups have filed for de novos in August, bringing the list of pending applications nationally to 16.