Business conditions improving even as troubling signs remain
The Midwestern economy continues to grow even as a majority of supply managers expect a recession to strike this year, according to a regional index. [Continue]
Bank executives say recent failures had limited deposit impact
The failures of Silicon Valley Bank and Signature Bank had limited impacts on deposits at other banks, according to an IntraFi survey of bank executives. [Continue]
Land of Lincoln Credit Union to acquire second Illinois bank
Decatur, Ill.-based Land of Lincoln Credit Union will acquire central Illinois-based Nokomis Savings Bank early next year. By acquiring the $27 million, single-branch bank, Land of Lincoln will grow to an approximately $482 million CU with 15 locations. Financial terms of the deal were not announced. The pending acquisition comes less than six months after … Read more
JPMorgan Chase acquires First Republic Bank after regulatory seizure
JPMorgan Chase acquired San Francisco-based First Republic Bank this morning after the California Department of Financial Protection and Innovation seized the failed regional bank and appointed the FDIC as receiver. JPMorgan Chase, which bid on the bank during a weekend auction, agreed to acquire $92 billion of deposits, $173 billion of loans and roughly $30 … Read more
Risk Strategies acquiring Wisconsin insurance subsidiary
Boston-based Risk Strategies is acquiring Johnson Insurance Services, the insurance subsidiary of Racine, Wis.-based Johnson Financial Group. [Continue]
Surveys reveal weak consumer confidence
Consumer confidence readings taken this month indicated mixed sentiments amid increasing interest rates and recessionary fears. [Continue]
Hsu: Open banking presents challenges, opportunities
Open banking presents potential opportunities as well as safety risks, said Acting Comptroller of the Currency Michael Hsu. [Continue]
One Community expands into Minnesota
Oregon, Wis.-based One Community Bank will expand into Minnesota early next year by opening a branch in the Twin Cities suburb of Cottage Grove. [Continue]
NBH Bank acquires deposit processing platform
Denver-based NBH Bank recently acquired deposit acquisition and processing platform Cambr. [Continue]
Bank CEO sentiments rise as troubling signs remain
The Midwestern economy edged above growth-neutral this month even as troubling economic signs lingered, according to a regional index. [Continue]