Former CEO of failed Kansas bank Heartland Tri-State Bank Shan Hanes was federally indicted earlier this month for allegedly embezzling $47.1 million from the bank in the weeks leading up to its collapse. [Continue]
Mt. Pleasant, Iowa-based Wayland State Bank will merge with fellow southeast Iowa-based Pilot Grove Savings Bank in the next few months, according to a report from Southeast Iowa Union. [Continue]
Moline, Ill.-based Empeople Credit Union is acquiring Lomira, Wis.-based TSB Bank in a purchase-and-assumption agreement. [Continue]
Banks tightened commercial lending standards amid weakened demand in the fourth quarter of last year, according to a recent Federal Reserve survey. [Continue]
Maple Lake, Minn.-based Star Bank is acquiring the Hancock, Minn., branch of Community Development Bank. [Continue]
U.S. unemployment rate remained at 3.7 percent for the third month in a row in January. [Continue]
Several trade associations are suing federal regulators for allegedly exceeding their statutory authority during recent updates to the Community Reinvestment Act. [Continue]
Supply manager sentiments remained tepid as manufacturing employment reached its lowest mark since June 2020. [Continue]
Executives are most concerned about their banks losing profit due to higher funding costs, according to IntraFi’s business outlook survey. [Continue]
The Office of the Comptroller of the Currency is proposing ending the possibility of merger applications being approved based solely on the passage of time while adding transparency to standards consistent with merger approvals and denials. [Continue]