Northwestern Financial Review back issues from March 2007:
The window is open
Mar 01, 2007; ... The banking industry caught a real break when the FDIC decided to extend its moratorium on industrial loan company applications for another year. One thing that has become clear since the FDIC held hearings last spring on the application filed by Wal-Mart is that this is a political question ...
Haddeland resigns from ICBM leadership
Mar 01, 2007; ... William G. Haddeland has resigned as president and CEO of the Independent Community Bankers of Minnesota. The resignation, announced Feb. 8, was to become effective Feb. 28. ICBM Chairman Brian Nicklason said Haddeland resigned due to hie struggle with Parkinson's disease. "Will brought ...
Home Loan Banks seeking directors
Mar 01, 2007; ... The Federal Housing Finance Board gave the 12 Federal Home Loan Banks around the country much more power to influence the appointment of public interest directors when it adopted a new interim rule on Jan. 18 regarding the selection of directors. The Finance Board, which is the regulator ...
Minnesota bankers get insight into 2007 legislature
Mar 01, 2007; ... Minnesota bankers got an up-close look at the new state legislature during events hosted by the state's two industry trade groups in early February. About 50 bankers met with legislators in a State Capitol conference room on Feb. 1 in a meeting hosted by the Independent Community Bankers of ...
Most banks solid, regulator tells Group One bankers
Mar 01, 2007; ... Most community banks in the Midwest are going into 2007 in solid position, according to an official with the Comptroller of the Currency who addressed the annual Wisconsin Group One meeting, Feb. 10 in Minneapolis. Sheila Van Ornum, assistant deputy comptroller in the Minneapolis office said 90 ...
The Hawaii Hand-off
Mar 01, 2007; ... North Dakota's Terry Jorde passes the ICBA gavel to Jim Ghiglieri of Illinois James P. Ghiglieri, Jr., president and CEO of Alpha Community Bank in Toluca, 111., will accept the chairmanship of the Independent Community Bankers of America during the association's annual convention, March ...
Notes, news and views on community banking
Mar 01, 2007; ... Jorde reflects on role as first female ICBA chair Terry Jorde, Country Bank USA of Cando, N.D., concludes her year as chairman of the Independent Community Bankers of America at the group's convention March 4-7. She was the association's first female chair. While she acknowledges the ...
N.D. bank buys Minneapolis trust portfolio
Mar 01, 2007; ... Alerus Financial, Grand Forks, N.D., has acquired Stanton Trust Company, a subsidiary of Minneapolis-based Stanton Holdings, Inc. The venture adds $2.1 billion in assets under management and 390 Twin Cities clients to Alerus FinanciaVs wealth management division. The sale allows Stanton ...
people on the move
Mar 01, 2007; ... * First National Bank of Milaca, Minn., announced Don Fox is relinquishing his duties as president and CEO to become the bank's vice chairman. Doug Brink, who joined the bank in 1968, is being promoted to the bank's new president and CEO. Fox has been the bank's president and CEO since ...
Mixed results from Fed's latest lending practices survey
Mar 01, 2007; ... Lenders reported mixed changes in lending standards while demand for most loan types was somewhat weaker, according to results of the Federal Reserve's most recent Senior Loan Officer Opinion Survey on Bank Lending Practices. Institutions noted they had eased some terms on commercial and ...
Blue Cross and Blue Shield opening HSA bank
Mar 01, 2007; ... The Office of Thrift Supervision has granted a charter to the Blue Cross and Blue Shield Association to open a savings bank in Utah. The bank will administer health savings accounts sold through the association's 39 locally operated health insurers across the country. Collectively, Blue Cross ...
Federal Reserve Board governor resigns
Mar 01, 2007; ... Susan Bies, 59, has resigned her position as a director on the Federal Reserve Board. She had served for five years. Her departure, effective March 30, creates a second opening on the seven-member board. Bies said she plans to spend more time with her ...
First bank failure in two and a half years
Mar 01, 2007; ... The 115-year-old Metropolitan Savings Bank of Pittsburgh was closed on Feb. 2 by the Pennsylvania Department of Banking. The bank had assets of $15.8 million. The FDIC was named receiver and approximately % 12 million in deposits were assumed by Allegheny Valley Bank of Pittsburgh. About 70 ...
Transparency, please
Mar 15, 2007; ... Comment to the FDIC: If you are going to add to the reg burden of smaller banks, at least tell them why you are doing it. The February 7 Federal Register provides notice that the FDIC wants to collect information from banks regarding check overdraft protection programs. The purpose of the survey ...
The Fun-damentals
Mar 15, 2007; ... In a changing world, there remain constants Historians are telling us that we live in times of rampant change. It is hard to disagree with this assessment. The key to staying buoyant in today's marketplace is knowing what not to change. The ability to remain focused on the fundamentals ...
Start-up Strategy
Mar 15, 2007; ... Trend taps IRAs as new opportunity Today, IRAs constitute the fastest growing segment of the retirement plan market, with more than $3.6 trillion in assets. Experts predict that another $1 trillion will be rolled over by baby boomers by the end of 2008. What this means for investors is ...
Bankers have mixed outlook for economy
Mar 15, 2007; ... Bankers have mixed feelings about prospects for the 2007 economy, according to the 14th annual survey of bank executives conducted by consultant Grant Thornton. Out of 355 bankers across the country to participate in the survey, 43 percent said they feel uncertain about prospects for the ...
M&I to buy Twin Cities' Excel Bank
Mar 15, 2007; ... Milwaukee-based Marshall & Ilsley Corp., is adding to its Twin Cities presence by purchasing Excel Bank Corp. of Minneapolis. For about $105 million, M&I gets a $633 million bank staffed with people who have worked in a banking culture similar to M&I's. Excel ...
Regulators take over credit unions in Michigan, Kansas
Mar 15, 2007; ... The National Credit Union Administration has stepped in to manage two Midwest credit unions - one large and one small. The $362.6 million Huron River Area Credit Union of Ann Arbor, Mich., which was placed into receivership by its state regulator Feb. 16, is likely to survive once permanent new ...
United by Issues
Mar 15, 2007; ... The 2007 ABA Community Bankers Conference pulls rural and urban interests together A MARCHING BAND KICKED OFF the American Bankers Association's 27th National Conference for Community Bankers. The musicians marched in lock step, which turned out to be an apt metaphor. The conference, ...
Leaderhips, Lincoln style, and other notes...
Mar 15, 2007; ... Reporter's Notebook * Historian and TV pundit Dorris Kearns Goodwin was the keynote speaker at the conference's first general session. She won the crowd over immediately. "My father, Michael Kearns, was a banker. He loved it and the work of a banker is something that surrounded my ...
mergers and acquisitions: COMMON QUESTIONS
Mar 15, 2007; ... ARE THERE MORE BANK DEALS AND WHY? Bank deals are on the rise and everyone is asking why. From my vantage point, there are several reasons why banks are being put on the market - prices are good; margins are tight, and banks face stiff competition from bank and nonbank competitors; bank ...
check fraud liability: IN THE WAKE OF CHECK 21
Mar 15, 2007; ... The Check Clearing for the 21st Century Act, better known as Check 21, is revolutionizing check processing. By allowing banks to convert checks into electronic images, Check 21 and the accompanying modifications to Regulation CC have the potential greatly to reduce administrative costs ...
Interview: Insights of an urban banker
Mar 15, 2007; ... Editor's Note: Dorothy J. Bridges is president and chief executive officer of Franklin National Bank, a $90 million community bank in Minneapolis. The bank has a strong reputation in the urban community it serves. Bridges, a member of the ABA Community Bankers 'Council was named vice president ...
FDIC issues warning
Mar 15, 2007; ... The recent slowdown in residential construction could reduce the demand for mortgages and commercial real estate and construction loans - activities that have been important factors in loan growth for banks and thrift institutions in recent years. That's according to the winter 2006 edition of ...
PCS reports steady client growth
Mar 15, 2007; ... Precision Computer Systems of Sioux Falls, S.D., a unit of Fiserv, Inc., reports it picked up 33 clients in 2006, bringing its customer base to 750 financial institutions. "Many financial institutions choose PCS because of the business benefits that go hand in hand with our expanding ...
State regulators sign onto mortgage licensing system
Mar 15, 2007; ... Regulators from Iowa, Nebraska, both Dakotas, Montana, Indiana, Michigan and Wyoming are among 29 state agencies from around the country that have expressed their intent to participate in the Residential Mortgage Licensing System by the end of 2009. The system was developed by the Conference of ...
Extras...
Mar 15, 2007; ... * John Aiken, a bank examiner with the Office of Financial and Insurance Services for the state of Michigan, is the recipient of a scholarship to a graduate banking school. The award comes from the Education Foundation of State Bank Supervisors. Aiken, who joined the regulatory agency after a ...
people on the move
Mar 15, 2007; ... * Dick Herbrechtsmeyer has been elected chairman of the board and Kurt Herbrechtsmeyer has been elected president and CEO of First Security Bank & Trust, Charles City, Iowa. Dick Herbrechtsmeyer will stay involved in bank operations on a parttime basis. * Kim Field joins the Illinois ...
for the record
Mar 15, 2007; ... FEDERAL RESERVE WEEKLY FILINGS Feb 17: Hendricks County Bank and Trust Co., Brawnsburg. Ind., authorized to establish a branch in Avon. Centra Ventures, Inc., Foley, Minn., authorized to engage in leasing activities through its de nova subsidiary, Falcon Leasing ...
Congressional Budget Office proposes taxing larger credit unions
Mar 15, 2007; ... The Congressional Budget Office has proposed taxing credit unions with more than $10 million in assets as one of many ways to strengthen the federal budget. Option 27 on page 294 of the 374-page report says: "Large credit unions, like taxable thrift institutions, now serve the general public and ...
Sixth year in a row for record industry profits
Mar 15, 2007; ... Banks and thrifts reported net income of $145.7 billion in 2006, eclipsing the previous record of $133.9 billion set in 2005. The improvement in earnings can be attributed in part to strong growth in non-interest income at large banks, higher net interest income and lower expenses for bad loans, ...
Debit card usage continues to grow
Mar 15, 2007; ... Debit card usage is up, according to a survey of 55 debit card-issuing financial institutions, sponsored by Pulse EFT Association. Issuers reported average transaction growth of 20.3 percent for signature debit and 15.7 percent for PIN debit in 2006, with large banks experiencing the highest ...
Deposit insurance funds in sound condition
Mar 15, 2007; ... The Deposit Insurance Fund earned $1.6 billion during 2006, increasing the fund balance to $50.2 billion at year-end. This $1.6 billion compares favorably to the $1.1 billion in comprehensive income earned in 2005, before the FDIC merged the BIF and SAIF. Excluding $345 million in exit fees ...