Fed survey: Banks tighten lending standards
Banks tightened their business lending standards and saw weaker demand for both C&I and CRE loans during the third quarter, according to a Fed survey. [Continue]
New York Fed: CBDC would enable faster payments
A central bank digital currency would enable faster payments, according to research from the New York Fed. [Continue]
Federal Reserve: Banks remain stable, risks remain
Banks remained profitable in the second quarter of this year even as higher interest rates and recession fears continued, according to a Fed report. [Continue]
Small business optimism hampered by inflation
Small business optimism remained historically low in October as inflation continues to stunt owner expectations. [Continue]
Ag lenders: Interest rates, inflation top issues for 2023
Agricultural lenders view soaring interest rates and high inflation as the top two issues of 2023, according to an ABA survey. [Continue]
Two Wisconsin banks to merge
FS Bancshares, Inc. is acquiring the fellow central Wisconsin-based Farmers and Merchants Bank of Kendall. The $145 million FS Bancshares is the holding company for Ergo Bank of Markesan, Wis. As of June 30, the bank had two branches, $120 million in deposits, $109 million in net loans and leases and $19 million in securities. … Read more
Wisconsin’s Bank First consolidates branch
Manitowoc, Wis.-based Bank First announced the pending closure of a branch in northwest Green Bay to accommodate the construction of a new building. The $2.9 billion bank announced its plans to construct a new branch in northwest Green Bay after purchasing land from the village of Howard in late 2021. A separate branch will continue … Read more
Wings Financial Credit Union expanding into Wisconsin with bank buy
Apple Valley, Minn.-based Wings Financial Credit Union is expanding into Wisconsin with the acquisition of the Madison-area Settlers bank. Wings Financial will acquire the bank’s three branches, in Appleton, Madison and Windsor. Settlers bank locations will be rebranded as Settlers Best Credit Union, a division of the $8 billion, 340,000-member Wings Financial Credit Union. The … Read more
ABA: Mobile apps most popular choice for consumer banking
Mobile apps continue to be the most popular choice for consumers when banking, according to an ABA survey. [Continue]
Manufacturing economy strong as inflation declines
The Midwest manufacturing industry continues to grow as inflation and supply chain shortages lessen, according to Creighton University’s October Mid-American Economy report. [Continue]