The B&I program is expected to exhaust current funding in the next few months and faces a projected $1 billion shortfall in loan authority this fiscal year. This program is vital to sustaining rural businesses and job creation.
ICBA Connect is a virtual experience that is designed to energize, inspire and bring community banking teams together. And to magnify that energy, our goal has been to engage community bankers at every level.
Community banks reported net income growth of 21.2 percent in the fourth quarter from a year ago and a 3.6 percent increase in 2020 from the year before, according to the FDIC's Quarterly Banking Profile.
A new report out Tuesday warns that a more transmissible variant of coronavirus threatens to start a renewed surge of infections in March, and suggests the US speed up vaccination by skipping second doses for now.
During America Saves Week, the Independent Community Bankers of America reminds consumers that building a nest egg can help alleviate stress and provide additional financial security during times of uncertainty.
President Joe Biden on Monday criticized the Paycheck Protection Program because small businesses struggled to get loans that instead went to larger companies, and announced a 14-day exclusive loan program using PPP funds for businesses with under 20 employees to apply for financial assistance.
ICBA, ICBA Securities, and Vining Sparks are hosting a complimentary webinar for FDIC-designated Minority Depository Institutions on evaluating unsolicited interest from investors to provide capital and funding.