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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Eliminating overdraft charges is Stearns Bank's latest move to limit fees that its customers pay. CEO Kelly Skalicky says deposit service fees aren't a good business model.
May 6 -
Acquiring Country Club Bank would give Omaha-based FNBO 30 branches and nearly $3 billion of deposits in one of the Midwest's biggest markets.
May 2 -
The Small Business Administration is backing new legislation that would double the size limit on its manufacturing loans. Supporters say the bill has support on both sides of the aisle in Washington.
May 1 -
First Savings Financial Group could have bailed out of SBA lending after the departures of key executives and loan officers. Instead it retooled the unit, and it's now reaping the benefits.
April 30 -
The all-cash deal would solidify the $50 billion-asset regional bank's position in the fast-growing Lone Star State and offer double-digit earnings accretion.
April 28 -
The acquisition of the $5.7 billion-asset HarborOne Bancorp would be Eastern's third purchase of a Boston-area bank in the last five years.
April 25 -
The Washington, D.C.-area bank reported a significant boost in provisions to cover emerging vulnerabilities in its $1 billion portfolio of office loans.
April 24 -
BCB Bancorp in Bayonne, New Jersey, swung to an $8.3 million loss in the first quarter due to a troubled cannabis loan. The crowded weed marketplace in the New York area is leading to tighter margins.
April 23 -
The Evansville, Indianapolis-based company now expects to complete its $1.4 billion acquisition of Bremer Financial in Minnesota on May 1, instead of mid-year.
April 22 -
MainStreet Bancshares in Fairfax has closed its banking-as-a-service subsidiary after the unit fell far short of meeting its revenue and deposit targets.
April 21
