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“Loan volumes for almost all farming purposes rose at commercial banks, as many producers contended with tighter profit margins” during the first quarter, said a recent report from the Federal Reserve Bank of KansasCity. Persistently low crop prices and elevated input costs continued to increase farmers’ short-term financing needs.”
The local decision-making and strong relationships with customers that are hallmarks of small community banks provide leaders with fresh chances to positively affect their towns, cities, and regions while growing a healthy institution. Balance runoff is picking up speed, according to financial consulting firm Curinos.
although more than half came from the Plains region. Earlier this year, the Federal Reserve Bank of KansasCity reported that non-real estate bank loans made to farmers in the first quarter grew by nearly 8 percent. The increased ag lending was driven by higher borrowing for current operating expenses and livestock purchases.
Each week, PYMNTS will round up some of the latest initiatives from governments, banks and FinTechs around the world to lend support for small businesses struggling as a result of the coronavirus. to help bailing out their SMB customers, with some regional financial institutions (FIs) already taking action.
The bureau said Wednesday that it plans to hold a public hearing in KansasCity, Mo., to discuss small dollar lending. The hearing will be held at the KansasCity Convention Center and will feature remarks from CFPB Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and the public.
In order to compete as a small bank, we have been forced to keep higher-than-peer capital levels, so that our lending limit allows us to service local borrowers’ needs. Central Bank of KansasCity. KansasCity. Genesee Regional Bank. Philip Pecora, president and CEO, Genesee Regional Bank. Mendenhall.
Expect banks to pull back on energy lending in the near term, as regulators step up their scrutiny of oil loans and bankers approach the business with a "different attitude," says Mariner Kemper, chairman and chief executive at UMB Financial in KansasCity, Mo.
After lining up a series of regional bank and mid-large credit union signings over the past few years, Kony more recently acquired Umpqua Bank’s Pivotus Ventures to bring on Engage (in Umpqua parlance, formerly known as “BFF” and now “Go To Banking”), another non-transactional means of engagement that channels the mashup of service and sales.
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