News Topic: Community banks

Eric Luse, who co-founded the Luse Gorman law firm, helped Community Bank Shares of Indiana create the first MHC in the early 1990s. ... Read full article

The company said it had cut 20 positions and had found a way to shed 35,000 square feet of office space by the end of 2020. ... Read full article

The Loan Source, the nonbank lender buying the Paycheck Protection Program loans, has similar deals in place with other lenders. ... Read full article

Arbor Bancorp and FNBH Bancorp said the pandemic had created uncertainty about the regulatory process for securing approval for the deal. ... Read full article

Bankers’ criticism that the expanded designation would bolster the largest credit unions is misguided. ... Read full article

⁠John Corbett says building scale, lowering costs and strengthening technology offerings have become more critical for banks to stay competitive. ... Read full article

Worried about a lack of demand and that some of their customers are ineligible, community banks are still on the fence about participating in the effort to back loans for businesses recovering from the pandemic crisis. ... Read full article

Kennebec Savings Bank will have $1.3 billion in assets after it absorbs Kennebec Federal Savings and Loan Association of Waterville. ... Read full article

The Delaware company said it received $22 million in net proceeds after selling 360,000 class B shares. ... Read full article

Eastern Bank in Boston could raise as much as $1.7 billion to spend on acquisitions and technology investments that it says will be necessary to respond to customers' increasing preference for digital tools. ... Read full article

A decision that expands the low-income definition to all active-duty military personnel will only enable large credit unions to push out smaller competitors, removing choice for people in the military. ... Read full article

Delmarva Bancshares, which was on the brink of failure during the financial crisis, will be sold to BV Financial for $54 million. ... Read full article

The legislation would aim to address concerns that the current policy is outdated by establishing a new regime to limit asset growth for banks that are not well-capitalized. ... Read full article

Chuck Shaffer will take the helm in January, becoming the first leader outside of the Hudson family since the bank's formation in 1926. ... Read full article

After initially processing the loans manually, the Minnesota bank turned to "low code" software to build the electronic forms and workflows needed to approve loan applications. The result: a more than fivefold increase in the number of loans it ... Read full article

Johnson is exiting the state with the sale of the four locations. ... Read full article

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations. ... Read full article

How a twentysomething marketing entrepreneur helped transform a small community development financial institution into a digital leader. ... Read full article