National News

National News Six-year string of earnings records comes to a halt Banks reported net income of $105.5 billion in 2007, a decline of $39.8 billion (27.4 percent) from the record $145.2 billion that the industry earned in 2006, according to the FDIC. The bulk of the earnings decline was attributable to a few large institutions, … Read more

People on the Move

Mike Porter will retire from his position as president and CEO of Bremer Bank, Grand Forks, N.D., at the end of 2008. Porter was appointed the bank’s president and CEO in 2001; he’s been with Bremer and its predecessor institution, Valley Bank & Trust Company, for 34 years. A search is underway to find Porter’s … Read more

Notebook

Banking family honored for community-mindedness CorTrust Bank, Sioux Falls, S.D., was recently named Sioux Falls Family Business of the Year by the South Dakota Family Business Association. CorTrust Bank is owned by the Hopkins family and led by third generation banker Jack Hopkins. The bank operates 23 locations in 16 communities throughout South Dakota. To … Read more

Meeting Coverage

Field reports from meetings of the Wisconsin Bankers Association and the Minnesota Bankers Association. [Continue]

Straight Talk: Contracts upheld

Bankers, who deal with risk all the time, are perfectly suited to guide members of Congress through times of crisis. And, fortunately, that’s what happened Feb. 28 when bankers convinced the Senate that a knee-jerk reaction to the mortgage debt crisis would do a lot more harm than good. Senate leadership wanted to pass legislation … Read more

National News

Senate moves forward on ILC legislation The Senate Banking Committee took a step toward solidifying the separation of banking and commerce Feb. 13 when it passed the Industrial Bank Holding Company Act of 2008. “This important legislation will close the ILC loophole that allows non-financial firms to own banks,” commented Floyd Stoner, executive vice president … Read more