Fischer stepping down at Fed
The 73-year-old vice chairman of the Federal Reserve announced he would retire in mid-October, eight months before his term expires next June. [Continue]
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Credit union completes acquisition of bank
A Michigan-based credit union has completed its purchase of Peoples Bank, Elkhorn, Wis., and beginning Sept. 1 the bank customers became members of the Advia Credit Union. [Continue]
$18 million Montana bank deal announced
Eagle Bancorp Montana, Inc., the holding company of Opportunity Bank of Montana, announced Sept. 6 the signing of a definitive merger agreement through which it will acquire Ruby Valley Bank, Twin Bridges, Mont. [Continue]
Lindquist & Vennum to merge with Ballard Spahr
Minneapolis law firm Lindquist & Vennum announced Sept. 5 it is merging with Ballard Spahr, a law firm based in Philadelphia. [Continue]
Pawlenty, Kashkari offer echoing assessments of reg relief likelihood
Pawlenty offers realistic optimism. [Continue]
Steen honored with Founders Award
Robert Steen, CEO of Bridge Community Bank in Mechanicsville, Iowa, was honored with the Robert D. Dixon Founders Award presented at the 46th annual convention of the Community Bankers of Iowa on July 19 in Okoboji. The award is the highest honor bestowed by CBI. The award, established in 2003, was created to recognize bankers … Read more
CBI bankers fulfill sense of duty, encourage each other
Cameron Miles, president of Keystone Savings Bank, Keystone, Iowa, became president of the Community Bankers of Iowa at the group’s 46th management conference and annual convention at Okoboji, July 19-21. Miles challenged bankers to “keep doing what you are used to doing – fulfill your sense of duty to your community. Just think about doing … Read more
Despite concerns, regulators upbeat on Iowa community banks
While the condition of Iowa banks is generally strong, regulators worry about concentrations in commercial real estate and agricultural loans, in addition to liquidity and cybersecurity issues, representatives from the State of Iowa, the Federal Reserve Bank of Chicago, and the FDIC told bankers gathered in Okoboji on July 20 at the annual meeting of … Read more
Minnesota’s Anchor Bank sells to Indiana-based Old National
Just more than a year after acquiring Wisconsin-based AnchorBank, Old National Bank, Evansville, Ind., has agreed to purchase Anchor Bank, St. Paul, Minn. The acquisition was announced Aug. 8. Adding the $2.1 billion Anchor Bank will grow Old National to a $17 billion institution. Between entering Wisconsin in September of 2016 and this announced deal … Read more
Straight Talk: Ideas from an online lender
If you want to know how to market to millennials, watch Social Finance, the online lender that calls itself SoFi. This is the company that started out refinancing student loans, but now also makes personal loans and mortgages. It just applied for a charter to operate an industrial bank in Utah, which would give it … Read more