Straight Talk — LPFM Radio

Almost exactly a year ago, President Obama signed the Local Community Radio Act. The new law, which was a decade in the making, creates the opportunity for community and non-profit groups to license low power FM radio stations. It is expected that the Federal Communications Commission will open an applications window sometime in 2012, and … Read more

National News

Earnings up from year ago Banks and thrifts earned $35.3 billion in the third quarter, the FDIC reported. This is an $11.5 billion improvement from the $23.8 billion reported in the third quarter of 2010. This marks the ninth consecutive quarter earnings registered a year-over-year increase. Nearly two-thirds of all institutions reported improvements in quarterly … Read more

People on the Move

Eric Heining and Gary Van Eyll have been named to the KleinBank market board in Chaska, Minn. Heining is business development director for MotivAction. He has more than 20 years of experience in the incentive, recognition and reward, and meeting industry. He attended St. Cloud State University on an Army R.O.T.C. scholarship and graduated with a bachelor of … Read more

Iowa closes Polk County Bank

The Superintendent of Banking for the State of Iowa closed the Polk County Bank, Johnston, on Friday, Nov. 18. Grinnell State Bank of Grinnell, Iowa, acquired the closed institutions from the FDIC, which was named receiver. [Continue]

Jury award gives Pearlman lenders some relief

Another chapter in the Louis Pearlman scandal closed Dec. 1 when a jury in Minneapolis awarded 26 banks $13.6 million after finding TD Bank of South Carolina guilty of aiding and abetting and conspiring to commit loan fraud. [Continue]

Boehlji warns of competition’s impact on corn

Although ethanol remains an important fuel alternative, bankers should not expect the ethanol industry to increase farmer’s incomes, said Michael Boehlji, the well-known agricultural economist and Purdue University professor. [Continue]