Nodaway Valley Bank opening new branch
Missouri’s Nodaway Valley Bank has opened an LPO in Platte City, Mo., and applied to open a full-service branch at the location. [Continue]
Credit unions to merge into second largest in Minnesota
Firefly Credit Union, Burnsville, Minn., and TruStone Financial, a credit union based in Plymouth, Minn., announced their intention to merge. [Continue]
Fed’s Powell keeps rates at the floor, says debt need not inform fiscal policy
Federal Reserve Chair Jerome Powell said on April 29 that interest rates will remain in place until the Fed is confident the economy has weathered the effects of the pandemic. [Continue]
Country Club Bank expands into Olathe
Kansas City, Mo.-based Country Club Bank has expanded into Olathe, Kan., with its close of an acquisition. [Continue]
Nine of 10 rural bank CEOs expect recession
Creighton University’s Rural Mainstreet Index plummeted in April to its lowest level since beginning the survey in January 2006. The overall index for April slumped to 12.1 from 35.5 in March. [Continue]
PPP swells number of SBA lenders
The U.S. Small Business Administration added 3,200 lenders to its ranks through the Paycheck Protection Program, which doled out its $349 billion in funds in 14 days. SBA Great Lakes Regional Administrator Rob Scott and SBA Minnesota District Director Brian McDonald shared the information in a press call conducted on Friday (April 17) afternoon. Prior … Read more
Greenville Federal opening new office
Ohio’s Greenville Federal plans to open a new full-service banking center in Troy, Ohio, located on North Market street in the Sherwood Shopping Center. [Continue]
Fed to provide $2.3 trillion in loan programs
The Federal Reserve introduced programs on April 9 to provide up to $2.3 trillion in loans to support households, businesses and state and local governments that offer critical services during the coronavirus pandemic. [Continue]
Fed eases Wells Fargo asset cap to allow small business lending
The Federal Reserve modified the asset cap on Wells Fargo, allowing the bank to lend more to small businesses under the Paycheck Protection Program. [Continue]
Regulators lower CBLR, offer relief to mortgage servicers
Federal banking agencies temporarily lowered the community bank leverage ratio to 8 percent to provide relief to community banks. [Continue]