Northwest Bank branches in Milford, Arnolds Park and Spirit Lake, Iowa, helped raise more than $5,100 for the Okoboji and Spirit Lake Schools Backpack programs. According to a press release, the $2.3 billion, Spencer, Iowa-based bank matched funds up to $500 for each program — $2,515 for the Okoboji Schools program and $2,619 for Spirit … Read more
Kansas City, Mo.-based UMB Bank donated $2 million to seven nonprofits at the end of last year. The donations, announced in a Jan. 17 press release, included a combined total of $500,000 to area nonprofits Community Housing of Wyandotte County and supportive housing organization Amethyst Place for their work in supporting housing and health needs, … Read more
Manufacturing output fell 1.3 percent in December and was down at an annual rate of 2.5 percent in the fourth quarter, according to the Federal Reserve. The drop was reported after manufacturing output fell by 0.6 percent in November. Indexes for durable and nondurable manufacturing fell by 1.1 percent and 1.5 percent, respectively in December, … Read more
Economic conditions were mixed across the Midwest in recent weeks as consumer demand remained strong and labor shortages continued. [Continue]
Oregon, Wis.-based One Community Bank donated $20,000 to support mental health services at UnityPoint Health-Meriter’s Child & Adolescent Psychiatry program. According to a press release, the donation to the UnityPoint program is expected to provide additional resources to program caregivers, which could include tools promoting self-expression and self-calming behaviors such as music, art kits and … Read more
There will be no economic growth this year as inflation falls below 3 percent, according to a Jan. 20 report from the American Bankers Association’s Economic Advisory Committee. The committee, which includes 15 leading economists from the largest North American banks, projected that the economy will grow by 1.6 percent by the end of 2024. … Read more
Charles City, Iowa-based First Security Bank & Trust hired Chris Corcoran as a senior ag/commercial lender in Charles City. A community banker for nearly 25 years, Corcoran has a Bachelor of Science degree from Iowa State University, Ames. He has completed the Iowa Bankers Association’s Commercial Lending School and the Iowa School of Banking. He’s … Read more
Bank CEOs say the rural Midwest economy is improving even as they continue to feel the impact of higher farm input prices and regulations, according to Creighton University’s January Rural Mainstreet Index report. The RMI increased from 50.1 in December to 53.8 this month, the second straight month that the reading has been above the … Read more
Clara City, Minn.-based Citizens Alliance Bank is acquiring Butte, Mont.-based Granite Mountain Bank. The acquisition includes Granite Mountain branches in Philipsburg and Drummond, Mont. Citizens Alliance already has three Montana branches, in Great Falls, Seeley Lake and Lincoln. A press release states that the merger will allow Granite Mountain Bank customers to have direct access … Read more
Fargo, N.D.-based Gate City Bank will mark its centennial next month by donating $100,000 to a charity as part of the Giving Hearts Day community giving initiative. Founded 15 years ago, Giving Hearts Day is a 24-hour event for charities in both North Dakota and northwest Minnesota. Since 2014, the $3.2 billion Gate City Bank … Read more