The recent collapses of Silicon Valley Bank and Signature Bank were caused by internal leadership failures, not a 2018 law that eased regulations on similarly-sized financial institutions, said U.S. Rep. Dean Phillips (DFL-Minn.). [Continue]
The Minnesota Department of Commerce exchanged court filings with a group of credit unions in a lawsuit filed over a blocked 2021 deal between a Wisconsin credit union and a Minnesota bank. [Continue]
The commercial real estate lending outlook for the next 12 months is shrouded in the same uncertainty that the broader economy faces: Rising interest rates, stubbornly high inflation readings and recessionary fears. The forecast, however, isn’t entirely pessimistic.
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Steve M. Scheel knew it was the right fit. Eight years ago, Bell Bank President and CEO Michael Solberg and his father, board chair Richard Solberg, asked the Scheels CEO to become an outside director to bring a retail-minded leader to the board of their growing bank. [Continue]
Economists see a recession as likely in 2023 but are not in agreement on the scope of the pending downturn. [Continue]
Federal Reserve Bank of St. Louis President and CEO James Bullard predicted the Federal Reserve Open Market Committee will raise interest rates to over 5 percent this year to ensure that inflation returns to its long-term 2 percent target. Bullard discussed the Fed’s approach to taming inflation and outlined his economic predictions for the coming year. [Continue]
Accurately describing the career of Missouri community banker Dan Robb requires understanding the mindset shared by successful visionaries across all industries: An extraordinary work ethic, the foresight to accept opportunities others turn down, and the intelligence to decipher patterns that many fail to see. [Continue]
Congress will be divided for the next two years following November’s midterm elections in which Republicans won control of the House of Representatives and Democrats secured a Senate majority, with Democrat Sen. Raphael Warnock winning a runoff race in Georgia against Republican challenger Herschel Walker. [Continue]
2022 was an eventful year for community bankers. Worsening economic conditions marked by rising interest rates and high inflation continued to raise recessionary fears even as the country continued to emerge from the depths of the pandemic. [Continue]
Bankers face many challenges heading into next year. The possibility of a recession, rising interest rates and high inflation are all posing headwinds for banks. [Continue]