St. Paul adopts rent control, banking leader urges caution
As reported by the Star Tribune, the St. Paul measure caps rent hikes at 3 percent beginning next year. [Continue]
Report: More banks offering favorable products for older customers
Sixty percent of responding banks offer favorable products for older customers, the report stated, an increase from 53 percent in 2019. [Continue]
Wintrust purchases $570 million Allstate loan portfolio
Wintrust Financial Corp. and its wholly-owned subsidiary, Lake Forest Bank & Trust, have agreed to purchase approximately $570 million of loans from The Allstate Corp. and become the preferred national lender to Allstate lenders. [Continue]
Indiana bank purchasing Georgia bank in $80 million deal
The pending transaction was announced Tuesday and is expected to be completed by early next year. [Continue]
CBA President Hunt retiring next summer
Hunt announced his pending retirement Wednesday during the November meeting of the CBA board of directors. [Continue]
Indiana-based bank expanding Michigan presence with $323 million deal
The combined organization will operate under the First Merchants name and have $17.6 billion in combined assets and 122 banking offices in Indiana, Michigan, Ohio and Illinois. [Continue]
Use of SBA loan programs rose substantially in FY 2021
Increases in 7(a) lending occurred across the Upper Midwest, according to the recently released report, and came as the federal government continued to allocate nearly $800 billion in loans through the Paycheck Protection Program. [Continue]
Fed opts to taper economic support
The FOMC is tapering its support for the economy as vaccination rates rise and inflationary pressures remain. [Continue]
Armed Forces Bank acquires residential mortgage portfolio
Kansas’ Armed Forces Bank is buying the residential mortgage operations of KS StateBank, Manhattan. [Continue]
CCFBank opens new Eau Claire branch
CCFBank plans to open a new Eau Claire branch early next year while creating space for new development on the site. [Continue]