Economic activity slows amid as outlook weakens
The U.S. economy slowed in recent weeks, according to the Federal Reserve’s Beige Book. [Continue]
Community bank income fell in Q3
Net income at FDIC-insured community banks fell nearly 5 percent to $6.7 billion during the third quarter, according to the agency’s Quarterly Banking Profile. [Continue]
LCNB Corp. to continue Cincinnati expansion by acquiring local bank
Lebanon, Ohio-based LCNB Corp. is continuing to expand in the Cincinnati region by acquiring Eagle Financial Bancorp in a $23.1 million, stock-and-cash deal. [Continue]
Record number had unsecured 2Q personal loans
A record 22.7 million Americans had outstanding unsecured personal loans at the end of the second quarter of this year, according to a brief from the Federal Reserve Banks of New York and St. Louis. [Continue]
Waller sees progress in inflation fight
Federal Reserve Gov. Christopher Waller said significant progress has been made to bring inflation down to its 2 percent long-term target but isn’t committing to a firm date to begin reducing interest rates. [Continue]
Researchers: Retail CBDC could unequally burden small banks
Federal Reserve researchers say a retail central bank digital currency could disproportionately harm community bank lending. [Continue]
FDIC launches committee to oversee workplace culture review
The FDIC launched a special committee to oversee an independent third-party review of the agency’s workplace culture following a series of damaging reports on widespread workplace misconduct. [Continue]
First Busey Corp. expands Chicago presence with bank buy
Champaign, Ill.-based First Busey Corp. is growing in suburban Chicago by acquiring Merchants & Manufacturers Bank for $41.6 million. [Continue]
Most community banks exempted from FDIC special assessment
The FDIC exempted community banks with fewer than $5 billion in assets from its special assessment to recoup losses from the failures of Silicon Valley Bank and Signature Bank. [Continue]
Builder confidence falls as mortgage rates near 8 percent
Builder confidence continued to be limited as mortgage rates neared 8 percent earlier this month, according to the National Association of Home Builders/Wells Fargo Housing Market Index. [Continue]