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 same day Provident Financial Services announced it had agreed to buy Lakeland for $1.3 billion, the seller disclosed an ongoing fair-lending investigation by the Justice Department. Provident said it has "not heard anything" that would give it pause.
By John ReostiSeptember 27 -
Huntington Bancshares has hired Shawn Lough, a veteran Truist Financial banker and West Point graduate, to help guide the sales strategy and goals of its consumer and business banking operation. It also expanded the duties of Digital Director Mark Sheehan to include deposits.
By John ReostiAugust 9 -
Corrigan thrived on crisis situations, a colleague said. He received plenty of practice in 25 years at the Fed and another two decades at Goldman Sachs.
By John ReostiMay 19 -
The lawsuit filed by the Philadelphia company's CEO claims an opposing board faction lacks a quorum. Hill seeks to bar the group from reinstalling founder Harry Madonna.
By John ReostiMay 18 -
The deal for Summit Financial furthers First Financial’s strategy of acquiring national niche business lines.
By John ReostiDecember 7 -
Infrastructure will command most of lawmakers’ attention, but expect banks to keep pushing for bills that would ease the transition away from a key benchmark rate and help them serve legal cannabis businesses.
By Kate BerryAugust 24 -
Small Business Administration lenders have reported strong quarterly results, but those gains could evaporate later this year. Here’s why.
By John ReostiJuly 23 -
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 -
A program that lets firms bundle Small Business Administration loans is on hold while Congress spars over a new budget. The impasse is causing headaches for banks that rely on loan sales for fee income.
By John ReostiDecember 9 -
The end date for the Paycheck Protection Program Loan Facility was moved from Dec. 31 to March 31, giving lenders more time to line up the liquidity needed to buy and sell portfolios.
By John ReostiDecember 4