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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Lenders are rallying around a bill from Sen. Rubio that would give them access to another $50 billion under the 7(a) program. It could face obstacles in the House, where a bill favors direct lending by the Small Business Administration.
March 16 -
The agency will be tasked with providing $50 billion in loans to small businesses harmed by the pandemic. It is unclear whether the SBA will need help from banks and CUs.
March 13 -
The agency will be tasked with providing $50 billion in loans to small businesses harmed by the pandemic. It is unclear whether the SBA will need bankers' help.
March 12 -
The banking lobby asserts that the NCUA's field-of-membership rule goes beyond the agency's legal mandate.
March 11 -
Unity National Bank of Houston, which has reported losses three straight years, is receiving guidance and resources from Citigroup through a Treasury mentoring program.
March 6 -
Richard Herrington's buyout pitch to smaller banks is to offer them a way to survive and keep their local brands.
March 3 -
Hanover Bancorp will move forward with plans for an initial public offering after shareholders backed its slate of director nominees.
February 27 -
Though the agency plans to give more credit unions authority to issue subordinated debt, limited investor appetite and other factors could hamper activity.
February 27 -
Members of the House Small Business Committee expressed concerns to SBA Administrator Jovita Carranza that the rule could harm poultry farmers.
February 26 -
Though the agency plans to give more credit unions authority to issue subordinated debt, limited investor appetite and other factors could hamper activity.
February 25 -
The company revised its results to a net loss of $700,000 after deciding to record a $16 million loan-loss provision for the commercial loan.
February 24 -
Lawmakers have also criticized the agency's decision to create qualifying standards for farmers and other small businesses.
February 20 -
The credit union regulator's portfolio sale dashed the hopes of a group of New York taxi drivers looking for relief.
February 20 -
Hanover Bancorp is facing a proxy battle after its CFO and two other bankers bolted to a rival.
February 14 -
Broadway Financial prefers a small balance sheet and loans to real estate investors that offer affordable housing. Capital Corps and its founder, Steven Sugarman, want the bank to expand by making more loans directly to low- and moderate-income borrowers.
February 13 -
Ed Skyler, the bank's global head of public affairs, says a newly established $150 million fund will make equity investments in firms seen as having a positive impact on society.
February 10 -
Sierra Bancorp in Porterville has formed dedicated lending teams in Sacramento and Greater Los Angeles in its bid to accelerate loan growth following a sluggish 2019.
February 7 -
Reduced dine-in traffic is eating away at bottom lines, forcing eateries to rethink how they borrow money.
February 4 -
The Los Angeles company set aside more money to cover a problem loan after an updated appraisal of the credit's collateral.
January 29 -
Two major banking organizations objected to a proposal by the agency that would expand the pool of investors in subordinated debt issued by credit unions. They fear it could provide credit unions more financing to buy banks.
January 23
