3 top articles at top of home page.
The time was right.”
Brian Nicklason, president and CEO of Grand Rapids, Minn.-based Woodland Bank, knew that his growing bank needed more space. The $132 million bank had been operating for several years in a 5,000-square-foot building once occupied by a hotel and had always planned to move into a larger facility. [Continue]
The reduction in occupied commercial real estate space caused by a mass shift to remote work poses credit risks for banks, FDIC Chair Martin Gruenberg said in a March 7 speech during an Institute of International Bankers conference. The national average vacancy rate increased to 12.5 percent by the end of last year from 9.6 percent in March 2020. [Continue]
I was saddened to learn of the Jan. 25 death of Kenneth Guenther, the leader of the Independent Community Bankers of America from 1982 to 2004. When I bought this magazine to start NFR Communications in 1992, Guenther was one of the first people to reach out to me. [Continue]
Charles Evans and Esther George were both born on January 15, 1958, which means they bumped up against the Federal Reserve’s mandatory retirement age for bank presidents last month. Leadership changes, therefore, are underway at the Chicago and Kansas City Federal Reserve Banks: Austan Goolsbee was named the new president and CEO of the Federal Reserve Bank of Chicago. The Federal Reserve Bank of Kansas City has yet to permanently fill the vacancy created by George’s departure; she was replaced on an interim basis by Kelly Dubbert, first vice president and chief operating officer. [Continue]
Buy Now, Pay Later,” that point-of-sale tool consumers are increasingly using to break purchases into bite-sized payments, may be the flavor of the month to some, but it doesn’t whet Greg Ohlendorf’s appetite. [Continue]
The Independent Community Bankers of America wants the Federal Reserve Board to exempt mid-size and small banks from climate risk management policies being established for large banks.
The drafted policies would require that banks respond by strengthening their governance, strategic planning, risk management oversight and data reporting practices. [Continue]
While the pandemic significantly impacted all industries, many have clawed their way back even as inflation, labor shortages and supply chain constraints continue. Child care has been a slightly different story, with a crucial industry failing to rebound since 2020 put it in freefall. [Continue]
Turning the pages of the calendar on a new year encourages us to think about timing. The world isn’t slowing down, and a few wise words might be just what we need to make the most of the present. [Continue]
Federal Reserve Bank of St. Louis President and CEO James Bullard predicted the Federal Reserve Open Market Committee will raise interest rates to over 5 percent this year to ensure that inflation returns to its long-term 2 percent target. Bullard discussed the Fed’s approach to taming inflation and outlined his economic predictions for the coming year. [Continue]
I’ve spent a bit of time in this space thinking about cryptocurrency and making an argument for why community banks should get involved in some way. Is it time for me to eat crow? [Continue]