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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Less than two years after shutting down its biggest business amid fraud allegations, the Michigan company has sold branches, settled a shareholder lawsuit and returned to profitability under turnaround specialist Thomas O’Brien.
By John ReostiMay 7 -
Acquiring AmeriHome would provide the fee revenue the Phoenix company seeks to compensate for low interest rates and tepid commercial loan demand. The deal also would allow it to reinvest billions of dollars of excess liquidity.
By John ReostiFebruary 17 -
The architects of two major loan deals featuring Black banks, one involving multiple lenders and a pro sports franchise and another backed by Citigroup, say more transactions like these are in the works.
By John ReostiDecember 13 -
The company is looking to tap into a surge of homebuying tied to historically low interest rates.
By John ReostiNovember 3 -
The San Francisco bank reported record loan originations thanks to explosive growth in single-family home loans, and profits beat analysts' expectations.
By John ReostiOctober 13 -
Shelter-in-place orders have given homeowners the time to pursue upgrades and repairs, and banks are seizing the opportunity to help finance the projects.
By John ReostiJune 16 -
University Bancorp decided to shutter its wholesale mortgage lending business after it struggled to hire and train employees remotely.
By John ReostiMay 27 -
Unity National Bank of Houston, which has reported losses three straight years, is receiving guidance and resources from Citigroup through a Treasury mentoring program.
By John ReostiMarch 6 -
Susan Riel succeeded Ronald Paul as CEO of the Maryland bank shortly before questions surfaced about credit quality and lending practices.
By John ReostiDecember 31 -
A new National Credit Union Administration proposal would raise the threshold for residential mortgages that require appraisals. However, the final rule is by no means a done deal.
By John ReostiNovember 21