The stability of the global financial system continues to be tested by high inflation, slowed economic growth, and cryptocurrency safety risks, according to the Financial Stability Board’s 2022 annual report. [Continue]
Banking conditions in the Federal Reserve Bank of Kansas City region remained stable in the third quarter. [Continue]
Sparta, Mich.-based ChoiceOne Bank opened a loan office in the Detroit suburb of Auburn Hills, Mich. A public grand opening was held Nov. 21. Vice President Matt Ankley oversees the office. “We are extremely pleased to announce another new loan office as we grow our community bank franchise into Oakland County,” said ChoiceOne President … Read more
Banks continue to lose more money to fraud as cybercriminals utilize security lapses in digital banking, according to a recent study. [Continue]
Existing home sales fell nearly six percent in October to 4.43 million, according to a National Association of REALTORS report. [Continue]
Tenth District manufacturing activity declined in November, according to a recent Federal Reserve Bank of Kansas City survey. Expectations for future manufacturing were mainly stagnant or slightly positive, according to the report. The composite index, an average of the indexes for production, new orders, employment, supplier delivery time and raw materials, was -6 this month, … Read more
Marshfield, Wis.-based Forward Insurance is expanding its presence in central and northern Wisconsin by acquiring Hadden Insurance Agency. The transaction is expected to be finalized by the end of this year and will include moving Hadden Insurance Agency’s office into the Forward Bank facility being remodeled and expanded in Rib Lake, Wis. Forward Bank is … Read more
Manufacturing output increased by 0.1 percent in October and was 2.4 percent above its year-earlier level, according to the Federal Reserve. [Continue]
Federal Reserve Gov. Michelle Bowman expects the Fed will soon slow the pace of interest rate hikes as inflation falls and the economy weakens due to rising interest rates. [Continue]
Bank CEO economic expectations remain limited as economic confidence drops and recessionary fears grow, according to Creighton University’s November Rural Mainstreet Index. [Continue]