Economists expect improvement in credit market conditions
Industry economists forecasted significant improvement in the business and consumer credit market conditions in the next six months. [Continue]
Industry economists forecasted significant improvement in the business and consumer credit market conditions in the next six months. [Continue]
Kansas Governor Laura Kelly signed into law an economic recovery bill that could increase parity at the state level between banks and the Farm Credit System. [Continue]
The Biden administration announced a two-week period in which only businesses with fewer than 20 employees can apply for PPP loans. [Continue]
The total net income of banks and savings institutions insured by the Federal Deposit Insurance Corporation was $59.9 billion in the fourth quarter of 2020. Due in part to a reduction in provision expenses, the quarterly net income increased 9.1 percent from what it was the year before. Community banks reported a 21.2 percent increase in quarterly net income year-over-year. The 2020 full-year net income, however, declined 36.5 percent to $147.9 billion. [Continue]
The Federal Reserve Board is putting an increased focus on renewable technology, according to a speech from Governor Michelle Bowman. The former Kansas state bank commissioner addressed community bankers about the Fed’s approach to regulation and supervision at the American Bankers Association Conference for Community Bankers on Feb. 16. [Continue]
Outlook for farm income and ag credit conditions rebounded in the fourth quarter of 2020, according to the Kansas City Fed. [Continue]
The third round of PPP funding was released in December. In the first two rounds, “who got the short end of that stick? Women-led businesses, minority-led businesses. Hands down,” said Dionne Gumbs, CEO and founder of GenEQTY. [Continue]
Though banks are the most broad-reaching lending channel for small businesses, many business owners do not seek funding from banks, according to a survey conducted by the Federal Reserve. [Continue]
In the backyard of her home, Cassandra Chandler has delicate white azaleas that decorate and punctuate a sea of green. On a hot day last summer, she noticed a hand of poison oak ivy grip one section of the garden. Horribly allergic, Chandler pulled out what she could, but the ivy still clenched at the roots. She cut on the outer edges to manicure an apparent solution, with no lasting avail. She never got to the root, so the weeds kept growing. [Continue]
One week after George Floyd’s death, St. Paul, Minn.-based Bremer Bank’s president and CEO Jeanne Crain released a public statement condemning racism in America’s history and culture, including in the banking industry. Several other bank CEOs did the same. [Continue]