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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A joint venture formed by a regional credit union trade group and a loan servicer has a simple mission: to help small credit unions that lack expertise in SBA lending jump into the booming 7(a) market.
November 18 -
Mortgage banking represented one weak spot in Wells Fargo's third-quarter results and company officials said that would likely be the case in the fourth quarter.
October 14 -
As the Small Business Administration's flagship 7(a) loan program breaks records, its other loan program stagnates. Advocates for so-called 504 loans hope a drive to permit CRE refinancing will inject new life.
August 13 -
The bill would require written contract amendments, signed by the lender, for most loans. Legislators took up the issue after a judge in the state sided with a borrower's claim of having an oral agreement from Bank of America to modify a mortgage.
April 1 -
United Community Banks took hefty hits during the financial crisis due to its focus on real estate lending. Today, the Georgia company is diversifying by building teams dedicated to SBA lending and making other specialty loans.
March 27 -
If successful, Provident Bank in Massachusetts and Cincinnati Federal in Ohio would become the first new mutual holding companies since 2011, giving some hope that the structure could make a comeback.
March 19 -
Five Star Bank is the latest financial institution to settle claims that it avoided lending to minorities. More redlining cases can be expected, industry experts say.
January 21 -
By targeting construction lending, 1st Financial Bank USA aims to expand beyond its hefty concentration in credit card loans while entering a business segment that has shrunk mightily since the financial crisis
January 9 -
First Commonwealth Financial had avoided making home loans for roughly a decade before determining that it needed to add the products to compete more effectively against smaller banks. It added the product at a time when a number of other banks are scaling back.
November 5 -
Washington Trust Bancorp is eager to dip its toe in the water when it comes to Fairfield County, Conn., but the company is reluctant to take a full plunge into that booming market.
October 29
