Chris Campbell, senior partner at Centier Bank, Whiting, Ind., was introduced to the 50-30-20 guideline to savings as a kid mowing lawns and babysitting in his Ohio hometown. At that point, however, the “essential” 50 percent of the loot often comprised candy bars and baseball cards, and the other two categories were for charity and savings. [Continue]
LendSmart, an infant mortgage-origination fintech, was active in the 2020 iteration of the Independent Community Bankers of America’s ThinkTech Accelerator in Little Rock, Ark., until the program got cut short due to the coronavirus. [Continue]
Christy Baker left her job in the banking industry in February to start a bank consulting firm and, with her husband, open Destination Coffee and Cuisine in Oakland, Iowa. She planned for the shop’s construction and inventory, and made scrupulous arrangements with her bank for her consulting kick-off. She did not expect, nor plan, to hold her first meeting as an operational strategist virtually. [Continue]
Data Center Inc., Hutchinson, Kan., named Sarah Fankhauser the company’s first female president in its history, and announced its acquisition of the Vetter technology suite. [Continue]
By the second week of March, bank lobbies across the nation shut their doors with rhythmic acceleration as the number of coronavirus cases shot up, and the nation’s heartbeat quickened. By the third week of March, banks with open doors became an anomaly. [Continue]
Federal Reserve Chair Jerome Powell said on April 29 that interest rates will remain in place until the Fed is confident the economy has weathered the effects of the pandemic. [Continue]
St. Louis Park is an old Minneapolis suburb populated by the young, including young professionals. And it’s a community that the leadership of Bridgewater Bank has been eyeing for more than a decade. [Continue]
The Federal Reserve introduced programs on April 9 to provide up to $2.3 trillion in loans to support households, businesses and state and local governments that offer critical services during the coronavirus pandemic. [Continue]
The Federal Reserve modified the asset cap on Wells Fargo, allowing the bank to lend more to small businesses under the Paycheck Protection Program. [Continue]
Federal banking agencies temporarily lowered the community bank leverage ratio to 8 percent to provide relief to community banks. [Continue]