BankBeat

BankBeat.biz serves as the leading online destination for the latest and breaking news in community banking. It perfectly enhances our monthly print publication, BankBeat (previously known as NorthWestern Financial Review), which provides thorough articles that examine and shed light on key trends, subjects, and challenges in the banking world. The name BankBeat reflects our dedicated focus on banking professionals. Just like a living entity has a heartbeat, we believe that the banking sector is vibrant and thriving. In the realm of journalism, reporters focus on specific "beats," and for us, our sole focus is banking.

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Manufacturing output increased in May

4 days ago | bankbeat.biz | Sam Wilmes

Manufacturing output increased 0.1 percent last month amid a nearly 5 percent rise in motor vehicles and parts, according to the Federal Reserve. The indexes for fabricated metal products, nonmetallic mineral products and machinery fell at least 1 percent. The production of nondurable manufacturing dropped 0.2 percent amid decreases in the indexes for printing and support, petroleum and coal products, and food, beverage and tobacco products.
Banks, willing and ABLE

4 days ago | bankbeat.biz | Sam Wilmes

In 2014, Congress passed the Achieving a Better Life Experience, or ABLE, law, which authorizes a savings program designed to help people with disabilities save money without jeopardizing disability payments subject to income caps. Supplemental Security Income and Medicaid, for example, have a $2,000 asset limit. Saving more could mean the curtailment of benefits.
Survey: CEO economic sentiments improved this month

1 week ago | bankbeat.biz | Sam Wilmes

Bank CEOs have a positive view of current economic conditions, even as many remain pessimistic over short-term economic projections, according to a Creighton University survey of bank CEOs in rural areas of a 10-state region. The Rural Mainstreet Index increased to 51.9 from 44.0 in May, according to the report. Any reading above 50 indicates positive economic sentiments.
Why playing it safe with marketing is costing your bank market share

1 week ago | bankbeat.biz | Sam Wilmes

It’s not enough to be financially sound — banks today have to be seen, trusted and remembered. Products are increasingly commoditized, customer expectations are rising and tech-driven banks are capturing market share. To compete, community and mid-sized banks need more than strong balance sheets — they need strong communication. Yet many institutions continue to undervalue marketing, not out of neglect, but from a long–held belief that it’s risky, optional or secondary to core operations.
Lake City Bank hires regional manager

1 week ago | bankbeat.biz | Sam Wilmes

Warsaw, Ind.-based Lake City Bank hired Gregory C. Brown as senior vice president, commercial Elkhart regional manager. Chair and CEO David M. Findlay said the new, Elkhart-focused team Brown will lead reflects the success of the bank in the community over the past 35 years and the continued growth of the bank in the market.
ChoiceOne in Michigan hires VP, branch manager

1 week ago | bankbeat.biz | Sam Wilmes

Sparta, Mich.-based ChoiceOne Financial Services and its subsidiary ChoiceOne Bank hired Liz Shoemaker as vice president, commercial loan officer. Shoemaker has 13 years of experience in retail and business banking at a regional bank, most recently as a business banking relationship manager. Shoemaker has a Bachelor of Arts degree in business management from Western Michigan University, Kalamazoo. ChoiceOne hired Rossi Fifelski to be Grand Rapids branch manager.
Report: Bank M&A remains steady despite headwinds

1 week ago | bankbeat.biz | Sam Wilmes

The pace of bank mergers and acquisitions was steady in the first five months of this year despite economic uncertainty, according to a report from consulting firm PricewaterhouseCoopers. In March, Capital One announced its planned acquisition of Discover in a $35.3 billion deal. The following month, fintech Global Payments announced its pending acquisition of Worldpay LLC for $24.25 billion, in a three-way deal involving Fidelity National Information Services.
Survey: Most banks prioritizing cybersecurity in age of AI

1 week ago | bankbeat.biz | Sam Wilmes

Most banks are instituting security measures to account for the large rise in artificial intelligence, according to a recent survey from auditing firm KPMG. Eighty two percent of banks were implementing strong security measures to ensure data compliance for generative AI. Seventy seven percent were conducting regulator audits, while 73 percent were more comprehensively training employees on data security.
Stop waiting for the market to settle

1 week ago | bankbeat.biz | Sam Wilmes

In a world defined by constant change, the real threat to banks isn’t political turnover or market uncertainty, it’s inertia. While leaders wait to see what’s next, their customers are already moving on. Most customers won’t tell you they’re dissatisfied. They just quietly shift their financial activity elsewhere, either to a fintech for a better budgeting tool, a neobank for faster payments, or a big tech wallet for more convenience.
Federal Reserve Weekly Filings for June 7

1 week ago | bankbeat.biz | Sam Wilmes

Bank filings were reported in Missouri and North Dakota . . . This content is only accessible to members with a current subscription. If you are a subscriber but don't have online access, please contact us at 952-835-2275.