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]
Are you satisfied with how your organization measures employee performance? Performance management is meant to enable employees to perform to the best of their abilities while making everyone accountable for reaching their goals. It’s proactive, not reactive, and builds better manager and employee relationships. [Continue]
When Midwestern ag bankers consider 2020, they expect some challenges for their farmer customers, not unlike the year that just ended. In 2019, struggles included severely wet weather, flooding, low commodity prices and a trade war with China. Changes within the dairy industry — from proposed regulations to breeding advancements — affected that sector. [Continue]
How exciting is it to roll out a new client offering? It is like that new car smell and getting the new iPhone folded into one! The anticipation of how “the product” will grow deposits, increase non-interest income and reduce expenses can be intoxicating. But how often is excitement (or even formal communication) about a new product offering spread throughout the entire organization effectively prior to launch? [Continue]
With apps and growing demand for mobile payment options gradually pushing cash aside, banks face a conundrum on how to adjust to an ever-changing, competitive marketplace. It comes down to technology, what options the bank goes with, how effectively banks incorporate that into their culture, and how much they invest in it. [Continue]
Now is the time for the banking industry to unite behind an effort to level the playing field with credit unions. Consider what’s going on around the industry, and it is possible to perceive a “perfect storm” of factors that make now the right time. [Continue]
The National Retail Federation has predicted a strong holiday shopping season. In its October survey, consumers said they expected to spend an average of $1,047, up 4 percent from what they had planned to spend last year. It’s the 10th consecutive year of increased consumer holiday spending. [Continue]
Community bankers suddenly have a lot of tech to choose from when it comes to lending platforms. We talked to Snehal Fulzele, senior vice president and general manager for Cloud Lending, a Q2 company based in Austin, Texas, about what makes its digital lending platform a fit for community banks, and got his take on cybersecurity challenges. [Continue]
After 30 years as CEO of Frandsen Financial Corp., Rich Hoban refocused his role to grow the company through acquisition. When the Arden Hills, Minn.-based holding company closed on its acquisition of Peoples Bank Midwest, Hayward, Wis., Frandsen leaped across the $2 billion-total-assets threshold. Here Hoban reflects on the company’s acquisition strategy. [Continue]