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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Bank lobbyists are once again calling on Congress to reexamine credit unions’ tax-exempt status, this time citing the proliferation of bank acquisitions by credit unions. So far, their pleas have gone largely ignored.
June 16 -
The lender's founder and CEO says the acquisition of Roscoe State Bank will give it new products and referral sources.
June 14 -
Southern Bancorp's CEO said money from Square would help his bank continue serving underserved communities.
June 10 -
Though the community bank has most of its branches in California and is buying a Florida bank, CEO Scott Kavanaugh is eager to pursue targets in the Lone Star State after moving the corporate headquarters to Dallas.
June 10 -
It's HBT Financial's first bank acquisition deal since its 2019 IPO.
June 7 -
The Dallas bank's $295 million acquisition of First Florida Integrity would give it its first presence on the East Coast.
June 3 -
Adding Community Bankers Trust would help United fill a key service gap between its branches in Northern Virginia and the Carolinas. It's United’s 33rd M&A deal under CEO Richard Adams.
June 3 -
Acquiring its local rival would give First Bank a commanding presence in Fayetteville and add to its presence in Raleigh, Charlotte and Wilmington.
June 2 -
In merging with First Midwest Bancorp, the Indiana company would finally gain a presence in the Midwest’s largest city.
June 1 -
First Midwest Bancorp in Chicago and Old National Bancorp in Evansville, Indiana, agreed to an all-stock merger-of-equals that would create a $45 billion-asset Midwestern regional player.
June 1 -
The U.S. unit of Toronto-Dominion Bank plans to invest in CDFIs and specialized funds that serve Black, Hispanic and other diverse business owners in its East Coast territory.
May 28 -
The seemingly expensive acquisition of Aquesta Financial Holdings is the cost of expanding in North Carolina's largest city.
May 27 -
Advocates for depositor-owned banks want regulators to block the combination of a one-branch thrift and Minnesota’s largest credit union, for fear it will lead to similar deals.
May 27 -
Cypress Trust in Palm Beach is poised to pull off a rarity: the conversion of a wealth management firm into a community bank. It’s simply another way to take advantage of the ongoing melding of the two financial services sectors, CEO Dana Kilborne says.
May 22 -
The Small Business Administration’s sluggish pace in forgiving the biggest Paycheck Protection Program loans is straining relations between banks and some borrowers.
May 20 -
The Massachusetts bank, which traditionally In contrast to its typical strategy of supporting low-income housing, the invested $500,000 in CEI Ventures’ Coastal Ventures V fund to support small businesses in disadvantaged communities.
May 20 -
American State would be the largest bank buyout for Equity, which has acquired 17 banks since 2003.
May 17 -
Michael Butler relied on partnerships with tech startups in areas such as checking and mobile banking to turn Radius into a digital-only bank before its sale to LendingClub. As the new CEO of Grasshopper Bank, he plans to strike similar deals to expand beyond business lending.
May 14 -
Princeton Portfolio Strategies Group would become the sixth asset management business that the New Jersey banking company has bought since 2014.
May 13 -
The Pennsylvania company will offer commercial loans and treasury management services after hiring bankers in Dallas and Orlando.
May 12
