First Mid buys two insurance agencies
Mattoon, Ill.-based First Mid Bancshares acquired two Illinois insurance agencies through its subsidiary First Mid Insurance Group. [Continue]
FIBT buys Sioux Falls mortgage company
First International Bank & Trust in Watford City, N.D., is moving into South Dakota via acquisition of a mortgage brokerage. [Continue]
Kansas law offers tax exemption for ag real estate loans, interest income
Kansas Governor Laura Kelly signed into law an economic recovery bill that could increase parity at the state level between banks and the Farm Credit System. [Continue]
Nebraska banks merging
The First National Bank of Chadron is merging with its sister charter Homestead Bank, Cozad, later this year. [Continue]
CSBS announces 2021 priorities, personnel changes
The Conference of State Banking Supervisors wants to focus on networked supervision to help standardize regulation. [Continue]
U.S. Bank launches new diversity initiatives
Minneapolis-based U.S. Bank is adding another series of actions aimed to promote diversity and combat racial wealth inequality. [Continue]
PPP prioritizes smallest businesses
The Biden administration announced a two-week period in which only businesses with fewer than 20 employees can apply for PPP loans. [Continue]
FDIC banks’ Q4 net income at $59.9 billion
The total net income of banks and savings institutions insured by the Federal Deposit Insurance Corporation was $59.9 billion in the fourth quarter of 2020. Due in part to a reduction in provision expenses, the quarterly net income increased 9.1 percent from what it was the year before. Community banks reported a 21.2 percent increase in quarterly net income year-over-year. The 2020 full-year net income, however, declined 36.5 percent to $147.9 billion. [Continue]
RMI continues upward trend
Signaling improved economic health in America’s heartland, the Rural Mainstreet Index improved to 53.8 from last month’s 52.0. This is the fourth time in the past five months the RMI has been above growth-neutral 50.0; it is also the highest reading since January 2020. [Continue]
Farm economy rebounds in Tenth Fed
Outlook for farm income and ag credit conditions rebounded in the fourth quarter of 2020, according to the Kansas City Fed. [Continue]