“I don't think it'll be a bumpy year, but there won't be as much growth as we anticipated,” said Laurie Stewart, CEO and president of Sound Community Bank in Seattle, Washington.
The competition to pay depositors higher rates has been hot for several years, leaving many smaller lenders feeling pressured to raise deposits.
According to the August Beige Book, nearly every district reported a modest rise in demand for loans.
Washington’s mission to bring economic justice to Arkansas is on display in the Oscar-nominated film “The Barber of Little Rock.”
Pressure to keep more capital puts constraints on banks, says Laurie Stewart of Sound Community in Seattle.
Institutions like the NYC-based Carver Federal Savings Bank emphasize community development as a core part of their missions.
Econ Extra Credit newsletter #130
A new report from the Federal Deposit Insurance Corp. finds bankers are increasing the money they set aside for bad loans.
A recent FDIC report found that community bank profits rose last quarter, thanks to fee income from PPP loans and mortgage refinancing.
About 75% of small businesses sought Paycheck Protection Program loans and about 72% of them got PPP loans, according to the Census Bureau.
