While banks kept work flowing in early spring through social distancing measures and remote workforces, they had to make quick decisions about another key program without knowing when the COVID-19 crisis would end or how bad it would get. Should they bring on board their interns? Or did the ever-changing nature of the crisis make that idea too complicated and risky? [Continue]
In Duluth, Minn., 20 distressed houses scattered about town will soon get a Cinderella-style roof-to-foundation renovation needed to make them livable. Once they’re ready for their close-ups, these fresh-faced gems will be sold for below market-value prices, but not to just anyone. Their buyers will be owner-occupants with an average income of 60 percent of the median for the area. [Continue]
Nebraska banker Greg Hohl was at an out-of-state meeting when he received a text message from his sister that there just might be a fire at their family-owned Wahoo State Bank. Cindy Hohl, executive vice president of the $92 million bank, had been sitting at her desk when someone reported smelling smoke. [Continue]
Natural disasters are nothing new, but climate scientists are predicting more extreme weather events, which will continue to affect entire geographic areas. And while it’s not realistic to think that all losses can be prevented, architects and engineers can design a bank with features that can limit losses from flooding, fire, snow, lightning and tornadoes — and keep employees safe. [Continue]
“Weather has been one of the big issues [in 2019] that has impacted agriculture. It started in the spring and did not let up all year. … The growing season saw plenty of struggles with wetness and cool temperatures. Finally, the delayed harvest due to slow growing conditions, wetness, early snow and liquid propane shortages all added up to an extremely difficult year for crop enterprises.” [Continue]
Looking ahead into 2020, many Midwest farmers see themselves in a holding pattern. With a presidential election looming, the economy tends to slow in the lead-up to November. A strong dollar isn’t helping. While some producers hold out hope for trade resolutions, others doubt it will make enough of an impact. [Continue]
Farmers seem to span the range in support of the trade war. There was initial support with producers seeing the need to fix some stuff, but that has decreased with time. The government payments have taken some of the sting out, but there is becoming a stronger sense that this is going to have some very long-term impacts on American agriculture. [Continue]
When Midwestern ag bankers consider 2020, they expect some challenges for their farmer customers, not unlike the year that just ended. In 2019, struggles included severely wet weather, flooding, low commodity prices and a trade war with China. Changes within the dairy industry — from proposed regulations to breeding advancements — affected that sector. [Continue]
It’s no secret that at banks across the country — big and small — most of the people sitting in the CEO’s seat or on the board have traditionally been men. Yet, some community banks have quietly redrawn that blueprint by offering workplace initiatives, such as family friendliness, flexibility and mentoring opportunities, which foster female leadership. [Continue]
Hearther Malcolm brings a degree in agricultural business and nearly two decades in ag lending experience to her work at Bank of the Rockies. She also is involved in the American Bankers Association’s Agricultural and Rural Bankers Committee. [Continue]