Midwest economy slows as labor shortages take toll
The Midwestern economy slowed in March after hovering around growth-neutral for the last three months, according to Creighton University’s Rural Mainstreet Survey. [Continue]
Congressman: Leadership failures caused bank collapse
The recent collapses of Silicon Valley Bank and Signature Bank were caused by internal leadership failures, not a 2018 law that eased regulations on similarly-sized financial institutions, said U.S. Rep. Dean Phillips (DFL-Minn.). [Continue]
Small business optimism grows slightly
Small business optimism is growing but continues to be stunted by inflation and lingering concerns that a recession is imminent. [Continue]
Small businesses more profitable, cautious in 2022
More small businesses were profitable last year than in 2021, according to the Federal Reserve’s annual Credit Survey. [Continue]
Compeer helps expand development initiative
Compeer Financial partnered with Southern Minnesota Initiative Foundation to expand its Rural Entrepreneurial Venture program. [Continue]
Experts: Bank failures unlikely to spread to community banks
Banking experts say community banks will not be significantly impacted by the recent high-profile failures of Silicon Valley Bank and Signature Bank. [Continue]
Economy expanded early this year
U.S. economic activity increased early this year even as inflation remained high and interest rates increased, according to the Federal Reserve’s March 8 Beige Book. [Continue]
KC Mathews: ‘job-full’ recession possible this year
UMB Chief Investment Officer KC Mathews said a ‘job-full’, mild recession could begin in the second half of the year. [Continue]
Silicon Valley Bank is largest failure since Great Recession
Financial regulators have closed Santa Clara, Calif.-based Silicon Valley Bank and taken control of its assets following an unsuccessful capital raise. [Continue]
Lawsuit continues over blocked Minnesota CU-bank deal
The Minnesota Department of Commerce exchanged court filings with a group of credit unions in a lawsuit filed over a blocked 2021 deal between a Wisconsin credit union and a Minnesota bank. [Continue]