More than 85 percent of Americans live in a state where marijuana is legal, either medically or recreationally or both. This includes many of the states this publication covers. Despite the evolving legalities, businesses that grow, market or sell cannabis products are legally shut out of the banking system and must rely on cash transactions. [Continue]
America’s ag banks increased agricultural lending by 5.5 percent last year to $99.6 billion, according to the ABA’s Farm Bank Performance Report. [Continue]
Effingham, Ill.-based Midland States Bancorp, Inc., completed its acquisition of the Mokena and Yorkville, Ill., offices of FNBC Bank and Trust. [Continue]
Burlington, Iowa-based Two Rivers Financial Group, Inc., is acquiring the two-branch Lee County Bank. [Continue]
Industrial production increased 0.2 percent in May, according to a Federal Reserve study, continuing a trend of monthly increases in 2022. [Continue]
New York City-based Reich & Tang Deposit Networks LLC, and Hackensack, N.J.-based Total Bank Solutions LLC completed their business combination on June 1. [Continue]
Consumer sentiment fell by 14 percent this month as inflation and gas prices weighed on consumers, according to the University of Michigan Surveys of Consumers. [Continue]
The Financial Crimes Enforcement Network issued an advisory alerting financial institutions to a growing number of elder financial exploitation incidents. [Continue]
Bankers are predicting a recession along with strong growth in farm income, according to June’s Rural Mainstreet Index. [Continue]
Jacksonville-based VyStar Credit Union and Atlanta-based Heritage Southeast Bancorporation have terminated their acquisition agreement. [Continue]