{"id":28982,"date":"2024-01-22T13:07:12","date_gmt":"2024-01-22T19:07:12","guid":{"rendered":"https:\/\/bankbeat.biz\/?p=28982"},"modified":"2024-01-22T13:07:12","modified_gmt":"2024-01-22T19:07:12","slug":"bank-ceo-confidence-grows-still-limited-by-interest-rates","status":"publish","type":"post","link":"https:\/\/bankbeat.biz\/bank-ceo-confidence-grows-still-limited-by-interest-rates\/","title":{"rendered":"Bank CEO confidence grows, still limited by interest rates"},"content":{"rendered":"

Bank CEO confidence improved this month but remained limited amid high interest rates and weaker commodity prices, according to Creighton University\u2019s monthly <\/span>survey of bank CEOs<\/span><\/a> in rural areas of a 10-state region.\u00a0<\/span><\/p>\n

The Rural Mainstreet Index increased to 48.1 from 41.7 in December. RMI tracks the sentiments of bank CEOs in rural areas in the central states dependent on agriculture and\/or energy. The index stayed below 50 for the fifth straight month even as farmland prices expanded.\u00a0<\/span><\/p>\n

\u201cHigher interest rates, weaker agriculture commodity prices and a credit squeeze are having a significant and negative impact on Rural Mainstreet businesses and on Rural Mainstreet farmers,\u201d said Ernie Goss, Jack A. MacAllister chair in regional economics at Creighton University\u2019s Heider College of Business.\u00a0<\/span><\/p>\n

The index tracking farming and ranching land prices fell to 64 from 67.2, which Goss said indicates strong but slowing growth in farmland prices. The index hasn\u2019t fallen below 50 since November 2019. \u201cHigher borrowing costs, tighter credit conditions and weaker grain prices pushed the farm equipment sales index below growth-neutral for the seventh time in the past eight months,\u201d according to the report.\u00a0<\/span><\/p>\n

Bankers stayed pessimistic about the potential for economic growth over the next six months, with the related index falling to 38.5 from 43.3 in December. \u201cFalling agriculture commodity prices and higher interest rates over the past several months continued to constrain business confidence,\u201d according to the report.\u00a0\u00a0<\/span><\/p>\n

January\u2019s index for loan volumes fell to 71.9 from 80.9 in December, while the index for checking deposits grew to 62 from 41.4. The index for certificates of deposits and other savings instruments fell to 62 from 65.5 in December.<\/span><\/p>\n

The index for both home sales and retail sales have fallen below 50 for the last three months. The January index for home sales fell to 38 from 43.3 in December as high mortgage rates and limited housing supplies continued to limit positive sentiments. The retail-sales index dropped to 46.0 from 46.6 in December. \u201cHigh consumer debt and elevated interest rates are cutting into retail sales in rural areas of the region,\u201d Goss said.\u00a0<\/span><\/p>\n

\u00a0Bank CEOs on average estimated that one-quarter of farm clients will face transition-related challenges in the next decade. CEOs expect that more than half of farmers transitioning in the next decade to transfer ownership to heirs, while 42.3 percent anticipate selling to other farmers in the area.\u00a0<\/span><\/p>\n

The states covered by the RMI survey are Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Bank CEO confidence improved this month but remained limited amid high interest rates and weaker commodity prices, according to Creighton University\u2019s monthly survey of bank CEOs in rural areas of a 10-state region.\u00a0 [Continue] <\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"generate_page_header":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[142],"tags":[380],"yoast_head":"\nBank CEO confidence grows, still limited by interest rates - BankBeat<\/title>\n<meta name=\"description\" content=\"Bank CEO confidence improved but remained limited amid high interest rates and weaker commodity prices, according to Creighton University\u2019s Rural Mainstreet Index.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bankbeat.biz\/bank-ceo-confidence-grows-still-limited-by-interest-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank CEO confidence grows, still limited by interest rates - 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