News Topic: Community banking

Community banks that have used the Paycheck Protection Program to help businesses ride out the coronavirus outbreak are looking to turn that goodwill into deeper loan and deposit relationships down the road. ... Read full article

The Ohio company, which bought United Community Financial in February, will start operating as Premier Bank later this summer. ... Read full article

The program, created in response to the 2008 financial crisis, generated $19 billion in small-business loans. It could be used as a viable path out of the coronavirus pandemic. ... Read full article

Small banks are a lifeline for many local businesses and should be given first crack at distributing funds from a continuation of the federal stimulus program. ... Read full article

MVB Financial plans to use Paladin Group to advise its bank and a number of its fintech clients. ... Read full article

Minorities are often hit harder financially during a crisis, but if regulators move forward on revamping the Community Reinvestment Act, they’ll only make matters worse. ... Read full article

The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap. ... Read full article

The SBA’s Paycheck Protection Program is nearly depleted, but there are ways small banks and fintechs, with help from Congress, can remedy the situation. ... Read full article

Unlike in 2008, banks have become a steady force during the coronavirus pandemic. ... Read full article

The Pennsylvania company said it faces $7.5 million in potential exposure from a commercial lending relationship. ... Read full article

By helping borrowers now, banks hope customers can quickly catch up on payments once the coronavirus pandemic ends. If they can’t, interest income will remain low and charge-offs could pile up if the crisis drags on. ... Read full article

A combination of digital and cloud capabilities, data gathering and regulatory experience should give smaller banks an edge over nonbanks. ... Read full article

Many banks were hitting their limits for lending to small businesses devastated by the coronavirus outbreak. They say the Fed's decisions to help fund additional loans and relax capital requirements will resolve many of their problems. ... Read full article

Pinnacle Bankshares and Virginia Bank Bankshares said the move will let each bank focus more on responding to the COVID-19 pandemic. ... Read full article

Community advocates would like to see changes to the 1977 Community Reinvestment Act, but say regulators should suspend such efforts until the coronavirus pandemic has passed. ... Read full article

Spirit of Texas Bancshares named an interim CEO for Dean Bass, though the company said he is recovering. ... Read full article

The government should encourage community lenders to offer six-month loan repayment forbearances to struggling businesses before it’s too late. ... Read full article

While the federal government is touting the early success of the Paycheck Protection Program, community banks are complaining about headaches and glitches. ... Read full article