Bankers expect rising funding costs, still optimistic
Bankers are preparing for an increase in funding costs this year as the Federal Reserve accelerates tapering and raises interest rates. [Continue]
Peoples Bank acquiring Minnesota equipment financing company
Ohio’s Peoples Bank is acquiring Excelsior, Minn.-based equipment financing company Vantage Financial for $54 million. [Continue]
Longview Capital to acquire The Farmers Bank of Mt. Pulaski
Newman, Ill.-based bank holding company Longview Capital Corp., is buying The Farmers Bank of Mt. Pulaski, Ill. [Continue]
Crypto market could threaten financial stability, FSB says
The rapid growth of crypt-asset markets could eventually threaten global financial stability, the Financial Stability Board said. [Continue]
Report: Small, mid-size business fraud jumps nearly 7 percent
Small- and midsize-business fraud has jumped nearly 7 percent since 2020 due to the pandemic and rapid growth of digital lending services. [Continue]
32 states, SEC reach record $100 million settlement with bitcoin company
The Securities and Exchange Commission and regulators from 32 states have reached a record $100 million settlement with the cryptocurrency company BlockFi Lending LLC for selling unregistered securities over nearly three years. Under the agreement, announced Feb. 14, BlockFi will pay $50 million to 32 states and another $50 million to the SEC. BlockFi will … Read more
Inflation drops consumer sentiment to 10-year low
Higher inflation and a lack of confidence in government policies dropped consumer confidence to its lowest level in a decade, according to the University of Michigan Survey of Consumers. [Continue]
Wisconsin Bankers Association names Burgess as Banker of the Year
The Wisconsin Bankers Association has named National Bank of Commerce President and CEO Steve Burgess as its 2021 Banker of the Year. Burgess has nearly 40 years of banking experience. He has served on the WBA board and chaired the WBA Government Relations Committee. During his nearly 10 years atNational Bank of Commerce, his institution … Read more
Citizens State Bank acquiring two branches of fellow Illinois bank
Lena, Ill.-based Citizens State Bank is acquiring two locations of the Rockford, Ill.-based Illinois Bank & Trust. According to a press release, Citizens will purchase IB&T branches in Stockton and Elizabeth, Ill. The transaction is expected to close in the second quarter of this year. The two branches had a total of $70 million in … Read more
Household debt surges in 2022
Total household debt surged last year in the largest jump in more than a decade, according to data from the New York Fed. [Continue]