Coldwater-based Southern Michigan Bancorp, Inc., appointed Andrew Mercer to its board of directors. Mercer is the third-generation owner and president of the Jackson, Mich.-based distribution, construction and service company R.W. Mercer Co. He also serves as a trustee for ABC Michigan Worker’s Compensation Fund, and is a board member of the Michigan Petroleum Association. Southern … Read more
Most bank customers embrace digital banking but still seek connections with personal bankers on certain matters, according to an annual survey of U.S. banking professionals and consumers. According to the survey, consumers still value support from a personal banker, especially for more complex tasks like loan applications and detailed financial advice. Banks should respond by … Read more
Waterloo, Iowa-based Veridian Credit Union is entering Minnesota by acquiring Eden Prairie-based American Investors Bank and Mortgage. The deal, announced Dec. 6 in a press release, is expected to close next summer. The price of the deal has not been disclosed. Founded in 1934 as John Deere Employees Credit Union by a few employees of … Read more
Brookfield, Wis.-based North Shore Bank is collecting coins in its annual “Change for a Cure” matching donation initiative to benefit the cancer research organization Midwest Athletes Against Childhood Cancer, Inc. The program lasts until Christmas at Wisconsin North Shore Bank offices.“Throughout the state, anyone who stops at a bank office will be able to count … Read more
Oregon, Wis.-based One Community Bank hired Melinda Gnorski as vice president of commercial credit underwriting. A banker with two decades of experience, Gnorski has 15 years of work in underwriting and managing commercial real estate relationships. She is a Credit Risk Certified Associate Member of the Risk Management Association. “I am excited to bring my … Read more
A majority of consumers prioritize quality fraud protection programs before opening bank accounts, according to a recent FICO survey. Thirty-three percent prioritize fraud protection, according to the survey, which included responses from more than 14,000 consumers in 14 countries. Thirty-one percent cited ease of use as their top consideration. Sixteen percent prioritize receiving “good value … Read more
Consumer credit conditions remained strong in the second quarter of this year as numbers continued to revert to pre-pandemic averages, according to the American Bankers Association’s second quarter Credit Card Market Monitor. The total number of accounts opened increased 5 percent on an annualized basis, bringing the number of open accounts higher than at the … Read more
U.S. economic activity was limited in recent weeks as interest rates and inflation continued to limit growth, according to the Federal Reserve’s Nov. 30 Beige Book. [Continue]
Wisconsin-based Waukesha State Bank awarded 20 $1,000 scholarships to incoming first-year students at Carroll University, Waukesha. The scholarship program started in 1996 to support Carroll University students who are from Waukesha County. The scholarships are awarded “based on extracurricular activities, community service and job experience,” the bank states. The program has impacted more than 480 … Read more
Illinois-based Morton Community Bank is acquiring Springfield, Ill.-based Marine Bank. The merger is expected to close in the second quarter of next year. Morton Community Bank will grow to a $5.7 billion bank and add 11 branches to its footprint. The acquisition continues the bank’s recent growth. Two years ago, Morton Community Bank acquired several … Read more