FIB&T opens Minnesota branch
North Dakota’s First International Bank & Trust is opening a branch in Minneapolis suburb Edina. [Continue]
Consumer credit applications return to pre-pandemic levels
Consumer credit applications, including for mortgages, car loans and credit cards, have mainly returned to pre-pandemic levels, according to a report from the Consumer Financial Protection Bureau. [Continue]
SBA accepts direct forgiveness applications for small PPP loans
The Small Business Administration will launch a streamlined portal to accept Paycheck Protection Program loan forgiveness applications directly for loans of $150,000 or less. [Continue]
2Q US GDP increases 6.5 percent
Real U.S. gross domestic product increased 6.5 percent in 2Q 2021, according to an advanced estimate from the Bureau of Economic Analysis. [Continue]
Slight increases seen in June monthly orders, shipments of economic goods
New orders and shipments of key economic goods increased again in June as consumer confidence edges higher but remains stunted by the continued spread of the Covid-19 delta variant. [Continue]
CSBS establishes standards for nonbank mortgage lenders
As nonbank mortgage lenders hit record market share levels last year, the Conference of State Bank Supervisors is issuing model state regulatory standards for such organizations. [Continue]
Old Second, West Suburban merging
Old Second Bancorp in Aurora, Ill., is acquiring West Suburban Bancorp, Inc., Lombard, Ill., in a cash and stock deal worth $297 million. [Continue]
Sales of new U.S. homes significantly lower than 2020
Marred by continuing inventory shortages, sales of newly-built U.S. homes in June fell to nearly 20 percent below last year’s pace. [Continue]
FHLB advances drop 34 percent in 2020
Advances from Federal Home Loan Banks decreased by more than one-third last year as financial institutions experienced record levels of liquidity. [Continue]
First Federal acquires Washington branch
First Northwest Bancorp, holding company for First Federal Savings and Loan Association of Port Angeles, Wash., bought a Bellevue, Wash., branch from Michigan’s Sterling Bank and Trust. [Continue]