Bankers are in a unique situation: They want their customers to be able to take advantage of low rates, but as responsible advisors to their farm and ranch customers, they don’t want their customers to plunge into debt too deeply just because rates are low. [Continue]
Kent Edson has always been a numbers person. Although he grew up on a farm, Edson didn’t want to be a farmer, so he never took any ag classes. In high school, he worked with the state as an engineer’s aid for an interstate highway system in Sioux Falls, so he thought he’d be an engineer. His high school bookkeeping teacher, however, told him he really should be a CPA. [Continue]
Colin Walsh is on the cusp of accomplishing the audacious goal he set for himself four years ago: To open the first FDIC-insured fintech bank. Walsh, founder of Varo Money, Inc., just received FDIC approval for Varo Bank, N.A. The OCC will soon finalize the preliminary approval it gave the venture 18 months ago; by the end of this month, Varo plans to file for a holding company charter from the Federal Reserve. [Continue]
The meeting room at Park State Bank is still a little groggy at 7 a.m. Chatter is limited and coffee is essential. Yet Tom Palmer will already be well into his day as he walks in, having been rowing on the river since 4:30 a.m. Palmer sits down with the meeting material — notes and comments thoroughly prepped. [Continue]