News Topic: Community banks

The Small Business Administration's last-minute plan to temporarily block larger banks from the relief loan program is another example of the agency changing the rules midstream, critics said. ... Read full article

Johnny Allison, the Arkansas company's chairman and CEO, agreed to reduce his base salary by 20%. ... Read full article

Banks had an opportunity to delay compliance with the new accounting standard, but many opted to move forward to get ahead of credit issues that could arise from the coronavirus outbreak. ... Read full article

The House is expected to vote later this week on the bill expanding emergency relief for small businesses reeling from the effects of the coronavirus. ... 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

The Dallas company also reported a first-quarter loss after the coronavirus outbreak caused "significant deterioration" in its economic outlook. ... Read full article

Lawmakers are considering a plan to reserve at least $50 billion in Paycheck Protection Program funds for customers of community banks and small regionals. ... Read full article

Stress and exhaustion are catching up to lenders and call center employees helping customers grapple with the coronavirus pandemic. ... Read full article

The move is part of an effort by CFPB Director Kathy Kraninger to help smaller lenders by significantly raising loan thresholds for collecting and reporting mortgage data. ... Read full article

A trade group says suspending so-called beneficial owner rules would help financial institutions make more small-business loans through the Paycheck Protection Program. ... Read full article

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

Dean Bass, chairman and CEO of Spirit of Texas Bancshares, had taken a leave of absence after contracting COVID-19. ... Read full article

The agency overhauled its system for the Paycheck Protection Program on Wednesday. Lenders hope it addresses the access issues and a crash that bedeviled the effort’s first week. ... Read full article

Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent. ... Read full article

The Small Business Administration said lenders approved $71 billion in loans from the Paycheck Protection Program in less than five days. ... 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

The Small Business Administration’s loan processing platform went down Monday for as long as four hours, temporarily halting the ability of lenders to process loans for small business owners seeking relief from the impact of the coronavirus. ... Read full article

For many small providers, the coronavirus pandemic means falling revenue and rising expenses, as many either shut their doors to new business or staff up to deal with COVID-19 patients. Bankers say that means helping them bridge the cash-flow gaps until ... Read full article