The recent trend of credit unions buying banks has become one of the hot topics in the industry. A credit union purchasing a bank is a relatively complex undertaking, and here’s what community banks need to know in order to make an informed decision. [Continue]
The Federal Reserve Bank of St. Louis has long been invested in collecting banking data. It started in 1961, when the director of research distributed three charts. The positive feedback the Fed received spurred an initiative to collect and share research outside of the Federal Reserve system. BankBeat recently became part of the tradition. [Continue]
One of the newest trends in banking litigation is the proliferation of “blind eye” fraud claims. The law underlying these claims isn’t new, but the rebrand to “blind eye” is sparking renewed interest and enthusiasm among plaintiffs’ attorneys, foreshadowing litigation to come. [Continue]
One of the important roles that community banks play in the American economy is providing credit to small businesses. What I consider to be the typical small company — $1 million to $10 million in annual revenue, 10 to 75 employees — often needs a line of credit or periodic term loans that are too small to attract the interest of the largest banks. [Continue]
Chatbots tend to be simpler to use than apps, are more visual and intuitive, solve a specific problem, and are typically built as an add-on to an existing application. Since we are more likely to send payments to people with whom we have regular contact, it would be helpful to combine a payment service with a messaging app. [Continue]
“Weather has been one of the big issues [in 2019] that has impacted agriculture. It started in the spring and did not let up all year. … The growing season saw plenty of struggles with wetness and cool temperatures. Finally, the delayed harvest due to slow growing conditions, wetness, early snow and liquid propane shortages all added up to an extremely difficult year for crop enterprises.” [Continue]
Did you hear about the rural resident who came up with a creative way to deposit cash into his bank account? There’s no bank in his town but there is a post office, so he goes there and purchases money orders. Then, he electronically deposits those money orders in his bank, likely using an app on his phone. [Continue]
Computer Service Professionals, Inc., Jefferson City, Mo., has been serving up tech solutions to community banks since 1988. We talked with Kurt Luebbering, CSPI’s director of operations, about longevity in the rapidly changing tech world. [Continue]
Looking ahead into 2020, many Midwest farmers see themselves in a holding pattern. With a presidential election looming, the economy tends to slow in the lead-up to November. A strong dollar isn’t helping. While some producers hold out hope for trade resolutions, others doubt it will make enough of an impact. [Continue]
Farmers seem to span the range in support of the trade war. There was initial support with producers seeing the need to fix some stuff, but that has decreased with time. The government payments have taken some of the sting out, but there is becoming a stronger sense that this is going to have some very long-term impacts on American agriculture. [Continue]