Well before coronavirus saturated our headlines, community banks accounted for 60 percent of small-business lending, served 58 percent of small businesses nationwide as their primary lender, and lent over $1.5 trillion to small businesses in 2019 alone.
Central Payments, the payments arm of the $238 million-asset Central Bank of Kansas City (CBKC) never imagined that a few days into their Falls Fintech accelerator program, they’d have to transition to a fully virtual experience. But due to COVID-19, that’s exactly what happened.
It’s no surprise that community banks have been financial first responders during the coronavirus pandemic. Their mission, vision and commitment to community is well-known, but research reveals the true extent of their impact.
Back in 1985, the first Macintosh computer debuted, and by today’s standards, it was a boxy, clunky, slow unit, yet Consumer Reports gave it a glowing review and cited the mouse and use of icons as technological breakthroughs. This demonstrates a key point: 35 years is a long time when we consider the rate of technological change.
With U.S. consumers paying approximately 15 billion bills valued at $4 trillion annually, nearly 30 percent of all consumer spending comes in the form of bill payment. This market presents significant opportunities for community banks.
Crisis response is not a new concept for community banks that have weathered economic recessions, natural and man-made disasters, and previous pandemics—all of which presented unique challenges that tested the industry’s resiliency and provided valuable lessons
The SBA and Treasury Department just publicly released loan-by-loan information about Paycheck Protection Program loans, as they said they would on June 19.
Given today’s competitive labor market and rising employee expectations, finding the right talent for your bank can be challenging. So, why not look internally and focus on the human capital that you already have?
In celebration of ICBA Bancard’s 35th anniversary, I sat down with our Chairman Greg Deckard, president, CEO and chairman of State Bank Northwest to reflect on key milestones that have led to the organization’s success.
Community Banker University® has noted an uptick in the number of bankers completing online training. Unfortunately, we have also seen a few instances where bankers are completing courses, but the system is not marking them as closed.
On June 5, 2020, the Paycheck Protection Plan (PPP) Flexibility Act was signed into law by the President. The PPP Flexibility Act could help organizations that may still be closed or partially closed meet the requirements for forgiveness.
What a difference three months make. In the fourth quarter of 2019, the outlook among bankers about the economy and the state of the industry was solidly positive. But as a result of the COVID-19 pandemic and the uncertainty it has created, the view among bankers has sharply shifted direction.
If you are inclined to read bond analysts’ research reports, eventually you’ll chance upon some commentary that addresses the performance of mortgage securities.
While we have never before experienced anything quite like COVID-19, we can identify a bright spot: community banks rising to serve the needs of their communities.
Literally overnight — the night of March 26 — community banks answered the call to support small businesses fighting to survive COVID-19. In that one day, 3,700 institutions became new Small Business Administration lenders to support the Paycheck Protection Program.
With irrefutable evidence that the United States is in a recession, zealous market watchers are now searching for clues as to its size and scope. At ICBA, we took the liberty of crunching the numbers in search of some answers, and our conclusions point to a short, sharp, and spotty recession.
As ICBA’s Executive Brief on digital wallets demonstrated, consumer use of digital payments technology is increasing due to the convenience and speed these options offers. The same rings true when exploring digital payments apps.
As we continue our relentless focus on customers in need, we must not let our guard down in continuing to urge Congress, the agencies, and the public to “wake up” to an overly-opportunistic credit union industry.
