John Reosti

The architects of two major loan deals featuring Black banks, one involving multiple lenders and a pro sports franchise and another backed by Citigroup, say more transactions like these are in the works.

A program that lets firms bundle Small Business Administration loans is on hold while Congress spars over a new budget. The impasse is causing headaches for banks that rely on loan sales for fee income.

The end date for the Paycheck Protection Program Loan Facility was moved from Dec. 31 to March 31, giving lenders more time to line up the liquidity needed to buy and sell portfolios.

The Massachusetts company, which had a big second-quarter loss after writing down the goodwill tied to past acquisitions, will sell eight branches to Investors Bancorp and shutter 16.

Though there is some optimism about an economic recovery, two-thirds of respondents said they expect revenue to be flat of down next year and just 13% plan to be in hiring mode.

Elizabeth Magennis recently served as the New Jersey company's chief lending officer. ConnectOne also hired Michael O'Malley, a former OnDeck Capital executive, as chief risk officer.

The California company agreed to acquire WestRiver Group in a move that will expand its debt fund business.

Lenders are worried that the Small Business Administration could use borrower responses to deny forgiveness for many Paycheck Protection Program loans that exceed $2 million.

As COVID-19 infections break records nationwide, some banks are once again closing lobbies. But many others are maintaining the status quo after instituting a host of safety protocols that didn’t exist in the spring.

Lenders want Congress to bring back incentives used during the last recession, such as bigger subsidies and reduced fees, to jump-start participation in the Small Business Administration's flagship 7(a) program.

Joseph Lebel's promotion follows a third-quarter loss as the New Jersey company company looks to get ahead of credit issues by selling high-risk loans.

The credit union regulator's November board meeting covered a variety of issues, including the voluntary self-assessment, disagreements on the budget proposal and the possibility of new insurance premiums in 2021.

Anchor Bank in Palm Beach Gardens was rescued by Bolivian investors after the financial crisis and began catering to South American clientele. Now it has agreed to buy a Broward County bank, setting the stage for its long-awaited, in-market expansion.

Wells Fargo, JPMorgan Chase and others cut back on 7(a) lending to focus on originating Paycheck Protection Program loans. Smaller banks such as Live Oak and Byline gained market share by targeting niche industries and originating bigger loans.

The company is looking to tap into a surge of homebuying tied to historically low interest rates.

Jane Allerman-Rey, the mutual's chief operating officer, will take on the new role in January.

Professional Holding has opened an office close to Boston to make loans to aspiring CEOs — often recent business school graduates — who are looking to buy their first businesses.

The Hawaii bank has paid employees who carpool, bike or walk to work. About a third of the workforce bought into the program before the pandemic, and it's expected to continue once life returns to normal.

Deposits have piled up, curtailing overdrafts and other fees. The trend could force lenders to find other ways to make money — or start cutting to the bone.

The Cleveland company will exit indirect auto lending and close branches so it can devote more resources to mortgages, student loans and other relationship-driven, digital-friendly businesses.