Who was the intended PPP target?
Who were the intended PPP grant recipients? At first, it was any company with fewer than 500 employees but then companies with access to other sources of investment, particularly the capital markets, were deemed ineligible. As news about the program spread, some suggested that profitable companies shouldn’t be eligible for ...
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#QuickTakes: Shawn Rost
Shawn Rost, immediate past chair of the South Dakota Bankers Association, relates the ups and downs of local ag, loan ...
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Unsealed documents shed light on Bremer saga
Documents in the ongoing legal battle between the Otto Bremer Trust and Bremer Financial Corporation and BFC directors have been ...
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Earnings tank, deposits soar in first quarter
FDIC-insured banks had net income of $18.5 billion in first quarter 2020, a decline of $42.2 billion (69.6 percent) from ...
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Chronicles
CBI completes Walcott buy
Muscatine, Iowa-based CBI Bank & Trust completed its acquisition of Walcott Trust & Savings Bank over the weekend ...
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Heartland buys branches in Arizona
An Arizona subsidiary of Heartland Financial USA in Iowa is buying branches from Johnson Financial Group, Racine, Wis ...
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WBA names new chair
Paul Kohler, president and CEO of Charter Bank, Eau Claire, has been elected to serve as the 2020-2021 chair of ...
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Non-bank mortgage lenders, REITs next up for FHLB membership?
In February, the Federal Housing Finance Agency announced it would seek input on expanding the field of membership in the ...
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Economic recovery will begin in third quarter, economists say
The U.S. economy will experience about a 6 percent contraction this year, but will begin to recover from its severe ...
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Indiana bank switches charters
Peoples Bank SB, Muncie, Ind., has converted from an Indiana-chartered stock savings bank to an Indiana-chartered commercial bank ...
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People
Castle Rock banker, Dan Nicolai, passes away
Life-long community banker and patriarch of the 104-year-old Castle Rock Bank in Castle Rock, Minn., passed away June 13. He ...
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Quinnell to lead Prevail Bank
Nathan Quinnell is slated to become future president of Prevail Bank, Medford, Wis., later this year, replacing current president and ...
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Bartels replaces Polen at Alliance Bank
Cord Polen has retired as president and CEO of Alliance Bank, Cape Girardeau, Mo. He was replaced by Wade “Pee ...
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Opinion
Diverse hiring is not inclusion
“Diversity is inviting people to the dance; inclusion is asking them to dance,” said Shirley Davis, president of SDS Global ...
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Tech-based property valuations need real data
Clear Capital is a Reno, Nev.-based real estate valuation and analytics technology company that has served mortgage lenders since 2001 ...
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Navigating the pandemic
There is a “hunkering down” mentality among managers in this environment. That’s understandable. Almost no organization can realistically plan for ...
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Community Relations
Bank Iowa crowdsources donation destinations
Bank Iowa, Des Moines, announced the recipients of its first-ever crowdsourced community give back program, Helping Hand ...
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Security Financial stocks shelves
Area food pantries will be able to buy more food for those in need in five area communities thanks to ...
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First Farmers gives food banks a boost
Converse, Ind.-based First Farmers Bank & Trust, in partnership with pork producers and processors throughout the state, has initiated a ...
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