Philanthropists are continually looking for innovative ways to make a positive impact with their charitable gifts, and many are increasingly turning to impact investments. Although the concept has been around for nearly 40 years, the term “impact investing” didn’t exist until more recently. [Continue]
Rod Fouberg never intended to get involved in banking. He got his degree in animal science from South Dakota State University, Brookings, and headed to the Sioux City stockyards. Fouberg then worked as a county extension agent for five years before Dacotah Bank approached him about becoming an agricultural lender in 1967. [Continue]
The development and deployment of NMLS, the Nationwide Multistate Licensing System, forever changed an industry. It created the means to validate mortgage professionals — in the eyes of both regulators and the public — as properly licensed and operating in good standing, a development that help bring much-needed stability to a troubled market. [Continue]
Creighton University’s Rural Mainstreet Index reported that the overall confidence in the rural economy is the highest it’s been since May, 2014. The RMI improved eight points from January’s report, increasing to 54.8, according to February’s monthly survey of bank CEOs in the agriculture-dependent, 10-state Midwest region. The uptick surprised Ernie Goss, regional economics chair … Read more
Bank-based financial planners need to “enlarge the scope of engagement” with clients, urged Barry Dayley, executive vice president of Money Concepts International, Palm Beach Gardens, Fla. Dayley spoke at an educational breakout session Wednesday at the American Bankers Association’s National Conference for Community Bankers in Honolulu. The conference concluded mid-day Feb. 28. [Continue]
PNC Bank, Pittsburgh, will again support the Internal Revenue Service’s Volunteer Income Tax Assistance (VITA) program, which provides free tax assistance to low- and moderate-income taxpayers. [Continue]
Eaton Federal Savings Bank, Charlotte, Mich., and SSBBank, Stockbridge, Mich., have agreed to merge. The deal, expected to be completed in the second quarter, is subject to regulatory approval and the approval of Stockbridge Bancorporation’s shareholders. Stockbridge Bancorporation is the holding company for SSBBank. [Continue]
Net lending at Wisconsin’s state-chartered banks grew by nearly 10 percent in 2017 according to data released by the Wisconsin Department of Financial Institutions. [Continue]
The future is an invitation to think in an entirely new way, commented Mike Walsh, a futurist who made a dramatic presentation Feb 27 at the National Conference for Community Bankers hosted by the American Bankers Association in Honolulu. Walsh encouraged bankers to “Think big, think new, think quick,” as he declared, “The future is now.” [Continue]
Net income for the nation’s community banks dropped 14.2 percent in the fourth quarter of 2017, to $4.1 billion, down $681 million from fourth quarter 2016. A reduction in corporate tax rates under the new tax law prompted one-time write-downs on deferred tax assets, which contributed to a $1.8 billion increase in income tax expense compared with the same period last year, according to the FDIC. [Continue]