Small businesses’ optimism increased in November but remained below average as rising interest rates, inflation and worker shortages continued to pose problems to their companies, according to the National Federation of Independent Business. The index for small business optimism increased by 0.6 points in November to 91.9, the 11th straight month of the reading falling … Read more
Consumer sentiment increased in November but remained historically low, according to December’s University of Michigan Surveys of Consumers. The index for consumer sentiment increased by 4 percent to 59.1, which is still 16.3 percent lower than the reading of 70.6 in December 2021. The index for current economic conditions increased by 2.4 percent to 60.2, … Read more
First Dakota National Bank CEO Larry Ness will retire at the end of this year following a 40-year career with the bank. Ness, 77, has served as CEO of the $2.6 billion bank since 1983. He will be succeeded by bank president Rob Stephenson. Ness, who became the bank’s majority in 1995, plans to remain … Read more
Oregon, Wis.-based One Community Bank recently donated $10,000 in matching funds for the Salvation Army of Dane County through the Red Kettle Campaign. The drive took place on Dec. 3. During the week leading up to the event, employees rang Salvation Army bells across the south-central part of the state. The Salvation Army provides food … Read more
St. Cloud, Minn.-based Stearns Bank N.A., is partnering with the Central Minnesota Community Foundation to raise up to $100,000 for three local nonprofits. According to a press release, monetary donations must be received by Dec. 31 to the attention of the “Stearns Bank Community Challenge.” The donations can be dropped off at: Catholic Charities, PO … Read more
Matthew Greene joined Ionia, Mich.-based Independent Bank Corp. as senior vice president, chief marketing officer. Greene has 17 years of marketing experience. He has a bachelor’s degree from Western Michigan University, Kalamazoo. “Greene is an accomplished executive with a winning mentality and extensive experience in digital marketing, customer relationship management, strategy development/implementation, revenue generation and … Read more
Paycheck Protection Program fraud disproportionately originated from fintechs due to executive greed and lax outside oversight, according to a staff report from the Senate Select Subcommittee on the Coronavirus Crisis. The subcommittee urged the Small Business Administration to review whether fintechs should be allowed to participate in future emergency public lending programs. The report recommended … Read more
Reinbeck, Iowa-based Lincoln Savings Bank is randomly awarding 12 callers with gift cards this week as part of its “Big Time Kindness” campaign to create awareness of the bank’s contact center. According to a press release, the center was established with the formation of the bank’s fintech department in 2018. The team of six specialists … Read more
Merrillville, Ind.-based Centier Bank hired Donald Rome as chief risk officer. Rome has spent 16 years at other financial institutions, and led the development of programs and teams in financial, credit, strategic, regulatory and operational risk areas. Rome has an MBA from the University of Montana, Bozeman, and graduated from Pacific Coast Banking School, Bellevue, … Read more
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