Policy intervention ‘wouldn’t go to waste,’ Fed Chair says
Fed Chair Jerome Powell said insufficient policy intervention would lead to a weak recovery, creating unnecessary hardship. [Continue]
Writer: Anna Cushing
Bridgewater opens doors to new corporate center
Bridgewater Bank, Bloomington, Minn., has opened the doors to its new corporate center in the Minneapolis suburb of St. Louis Park, after three years of planning. The four-story headquarters, situated on the northwest corner of Excelsior Boulevard and Monterey Drive, is allowing roughly 80 employees at a time to work in-house on a rotating schedule. Despite … Read more
States challenge FDIC interest-rate cap rule
In response to a rule allowing non-bank lenders to avoid interest rate caps, California Attorney General Xavier Becerra filed a lawsuit against the FDIC on behalf of seven states and the District of Columbia. [Continue]
Credit union to acquire second Indiana bank this year
Home Financial Bancorp, the holding company for Our Community Bank, Spencer, Ind., will be acquired by Crane Credit Union, Odon, Ind., in an all-cash transaction. [Continue]
Closed-end loan delinquencies rise in first quarter
As the pandemic triggered a sharp economic slowdown, consumer credit delinquencies rose in the first quarter, according to the ABA consumer credit delinquency bulletin. [Continue]
Shift into banking becomes lifesaving move
Chris Lee traveled a lot when he worked for accounting firm Eide Bailly. Criss-crossing North Dakota in a car brandishing Future Farmers of America license plates, his boss Darrell Lingle in the passenger seat, a young Lee chatted politics, family and weekend plans — the most important things to him at that time. [Continue]
North Dakotan embodies empathetic leadership
Though Jeremy Skoglund is a North Dakotan, he’s always been a Cubs fan. As a baseball player growing up, he played in any position he was needed. “Shortstop, pitcher, catcher — wherever.” Skoglund, currently a trust officer at First Western Bank & Trust, Bismarck, N.D., has taken a similar approach to his career in banking. [Continue]
President strives to uphold Wisconsin bank’s values
When TJ Minnehan walked into the Bank of Kaukauna, Wis., for an interview to become the bank’s president, he looked around, walked out, got in his car and turned the GPS back on. “I thought it had taken me to the wrong address,” Minnehan said. “I thought, ‘this looks like a museum.’” [Continue]
Rising to meet unprecedented challenges
In late March, community bankers were handed what seemed an insurmountable task: To design and implement processes to execute the U.S. Treasury and Small Business Administration’s Paycheck Protection Program. And they did, all across the country. While this article recounts the experience of the PPP lending team at Investors Community Bank in Manitowoc, Wis., it also honors all the PPP lending teams that lit the sky the way stars do when darkness, or the absence of certainty, spreads. [Continue]
Father and son share passion for community banking
Father and son Tim Siegle and Aaron Siegle are working side-by-side as CEO and president of First Resource Bank, Lino Lakes, Minn., after respectively cultivating their individual careers in banking: Tim as a CEO in rural North Dakota, and Aaron as an FDIC examiner. [Continue]