December RMI continues its recovery
For the second time in three months, the Rural Mainstreet Index sat above growth neutral, with equipment sales and land prices also hitting positive notes. [Continue]
Housing, hotels hit hard as pandemic rages on
When it comes to banks’ commercial real estate lending portfolios, hospitality properties are among those likely to suffer most during the pandemic, while segments of multi-family housing face a very uneven path ahead. [Continue]
Peoples State to remodel branch
The Marathon, Wis., branch of Peoples State Bank is set to receive a remodel starting in January and finishing in late spring. [Continue]
Private equity firm acquires InBank stock
Brush Creek Partners, Denver, Colo., has acquired 220,000 shares of InBankshares, Corp., and InBank’s common voting stock, for a total investment of $1.8 million. [Continue]
Huntington to acquire TCF
Huntington Bancshares, Columbus, Ohio, has agreed to acquire TCF Financial, Detroit, in a deal with a market value of about $22 billion. In a $6 billion all-stock merger, the combined companies will be among the top 10 U.S. regional banks with dual headquarters in Detroit and Columbus. The bank will operate under the Huntington name. [Continue]
Wolters Kluwer picks up digital lending software company
Compliance Solutions, a Minnesota-based division of Wolters Kluwer, has agreed to buy eOriginal for approximately $281 million in cash. [Continue]
First Mid closing branches
Illinois-based First Mid Bancshares, Inc., will be closing 10 of its 63 branches next year. [Continue]
Border Bank acquires Fargo’s Union State Bank
Greenbush, Minn.-based Border Bank is expanding into North Dakota through its acquisition of Union State Bank, Fargo. [Continue]
Alerus buys retirement services company
North Dakota’s Alerus Financial is beefing up its retirement and health benefits services division by acquiring Retirement Planning Services, Inc., Littleton, Colo. [Continue]
Income bounces back in 3Q as margins drop
Banks pulled in $51.2 billion in net income during the third quarter, a 10 percent decline from 2019 numbers, but more than double what it was in either of the first two quarters of the year. Average net interest margin, however, fell to historic lows. [Continue]