Earnings dip for active Indiana PPP lender
First Merchants, Muncie, Ind., reported income of $33 million for the second quarter compared to $41.1 million during the same period last year. [Continue]
First Midwest closing branches
Chicago’s First Midwest Bank is consolidating 17 branches early next year, or about 15 percent of its network. [Continue]
United Fidelity assumes deposits of Florida bank
First City Bank of Florida, Fort Walton Beach, was closed Oct. 16, and its deposits were assumed by United Fidelity Bank, Evansville, Ind. [Continue]
Kansas bank buoyed by agriculture
Landmark National Bank in Manhattan, Kan., posted a record $5.1 million earned in the second quarter, compared to $2.1 million the same period last year, based largely on the influx of PPP loans. [Continue]
Central ag states rebound as restaurants continue to struggle
Since falling to a record low in April, the Creighton University Rural Mainstreet Index has increased for six straight months, hitting a level it hasn’t seen since January. The overall index for October climbed above growth neutral 50.0 to 53.2 from September’s 46.9. [Continue]
Michigan bank group holding steady
Southern Michigan Bancorp, Coldwater, which operates three slightly different “Southern Michigan Bank” brands, earned $1.8 million in the second quarter. [Continue]
Indiana bank opens new branch, tweaks name
State Bank, Brownsburg, Ind., is opening a new office in Carmel, Ind., and adjusting its name to reflect its current footprint. [Continue]
Northwest closing Indiana branches
A Pennsylvania bank is closing 11 offices in Indiana as part of a broader network streamlining effort. [Continue]
Policy intervention ‘wouldn’t go to waste,’ Fed Chair says
Fed Chair Jerome Powell said insufficient policy intervention would lead to a weak recovery, creating unnecessary hardship. [Continue]
Byline to trim one fifth of branches
Chicago’s Byline Bank announced plans to consolidate 11 of its 57 branches earlier this month. Most of the affected offices are within two miles of another Byline location, the bank said. [Continue]