The recent failures of Silicon Valley Bank and Signature Bank highlight the importance of analyzing internal deposit concentrations and capital levels, according to Iowa Superintendent of Banking Jeff Plagge. [Continue]
The time was right.”
Brian Nicklason, president and CEO of Grand Rapids, Minn.-based Woodland Bank, knew that his growing bank needed more space. The $132 million bank had been operating for several years in a 5,000-square-foot building once occupied by a hotel and had always planned to move into a larger facility. [Continue]
Congress has scrutinized the work of financial regulators for their work in supervising Silicon Valley Bank and Signature Bank. In a March 20 letter, House Committee on Financial Services Chair Patrick McHenry (R-N.C.) and Senate Banking Committee Ranking Member Tim Scott (R-S.C.) requested Federal Reserve Chair Jerome Powell provide a timeline of events of the … Read more
Treasury Secretary Janet Yellen said the government is willing to expand FDIC insurance to regional and community banks in distress. Her comments came March 21 during the American Bankers Association’s Washington Summit, according to the ABA Banking Journal. [Continue]
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.
[Continue]
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]