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 Suffolk, Virginia-based bank has agreed to pay more than $200 million for Old Point Financial in Hampton. It announced the deal just two days after its previous acquisition closed.
April 3 -
The federal Small Business Investment Company program has seen a spike in interest since a new rule incentivizing support for early stage companies took effect in 2023. Now there is growing political support for ways to further bolster the program.
April 3 -
With South Florida's economy expected to continue outperforming the rest of the nation, Banesco USA is laying plans to extend its reach into Broward, the wealthy and populous county just north of its Coral Gables home base.
April 2 -
The $381 million deal for Alabama-based Southern States Bancshares would give FB entree to the sprawling Atlanta market. CEO Christopher Holmes said the bank would likely focus on nearby suburban communities initially.
March 31 -
The midyear fee hike was necessary to reverse a revenue shortfall in the agency's 7(a) program, according to Administrator Kelly Loeffler.
March 28 -
The Trump administration's plans for student loans could open the door for banks to grab market share as borrowers seek alternatives.
March 27 -
The Trump administration wants the Small Business Administration to shrink its workforce by 43%. At the same time, the agency is being asked to start managing the federal government's student loan portfolio.
March 24 -
San Antonio-based Broadway National Bank hopes marketing campaigns featuring old presidents with new looks will boost brand recognition in Dallas and Houston.
March 24 -
Coastal Financial's decision to report a material weakness won't impact previously disclosed bottom-line results, though it creates bad optics for the Everett-based company.
March 18 -
London-based OakNorth has amassed a sizable U.S. loan portfolio and had been seeking a U.S. charter to simplify its funding model.
March 17
