Weather causes massive problems for midwestern banks
The turmoil began in the midst of a now memorable Memorial Day weekend. An EF5 tornado ripped through Butler County, Iowa, the night of May 25. [Continue]
Loan Loss Reserves
FAS 114 and FAS 5 need to be on the compliance radar. [Continue]
Straight Talk: Congratulations and Thanks
We are pleased to conclude our Rising Star honorees for 2008 with the presentation of four additional outstanding young bankers in this edition. In the June 15-30 edition, we featured bankers from North Dakota, Nebraska, Minnesota and Iowa; in this edition, you will find features on selections from Indiana, Illinois, South Dakota and Wisconsin. Since … Read more
Speculators or Investors?
Interest in grains grows as $100 billion market evolves. [Continue]
National News
Guidance published on managing risk related to third-party arrangementsThe FDIC published guidance describing management principles for dealing with potential risk associated with third-party relationships. The FDIC said bank management should apply the guidance to each of the bank’s significant third-party arrangements. The guidance addresses four elements of an effective third-party risk management program: risk assessment; … Read more
Notebook
Jenkins bank providesland for community gardenThe Jenkins, Minn., branch of Woodland Bank in Deer River, Minn., will donate the use of three-quarters of an acre of land to be used as a community garden. The service is an extension of Earth Day clean-up activities sponsored by the bank in Jenkins. The bank will till the … Read more
Chronicles
State regulators watching farm situation; conditions changed greatly during MBA chairmanship; North Dakota bankers focus on future at convention; SDBA leaders want more involvement from young bankers; Illinois bankers inching toward lawsuit resolution. [Continue]
People on the Move
The Federal Reserve Bank of Minneapolis promoted:Ron Feldman to senior vice president, supervision, regulation and credit.Cheryl Venable to senior vice president, FedACH and information technology.Barb Coyle to vice president, supervision, regulation and credit.Tim Devaney to assistant vice president, financial management.Forrest Peiper to assistant vice president, information technology.Darian Vietzke to assistant vice president, treasury retail services.In addition, the bank hired Mark Vukelich as assistant … Read more
Corporate matters
Minneapolis start-up eyes a perceived niche; Wyoming holding company sells to Wells Fargo. [Continue]
Global warming
Whether you believe it or not, reaction could have big impact on banking. [Continue]