"Perhaps surprisingly, younger respondents indicated branch/ATM proximity as first and digital/ mobile capability as second when choosing a new bank.”
– An analyst from Jefferies, an investment bank and financial services company, reporting the results of retail banking survey published today. Physical banking locations, the survey found, are still a top factor in picking a new bank, especially for younger respondents.
On December 11th and 12th, ICBM will launch iMIS, our new, member database. On those days, our website will be unavailable. BankWise will also pause next week.
Minnesota banks make $277 million in the third quarter
The 283 banks in Minnesota pulled in $277 million in the third quarter, up from $241 million in the second quarter and $251 million a year ago. Net interest margin was flat at 3.89 percent, and return on assets was 1.32 percent, down from 1.34 percent last year but up from 1.25 percent the previous quarter. The state lost four banks in that time, and 14 over the last year.

Nationwide, banks had $57.4 billion in net income , down $4.5 billion or 7.3 percent from a year ago. The 4,825 institutions the FDIC tags as community banks reported a 7.2 percent increase in net income for the quarter, making $6.9 billion, up $466 million from a year ago.
Download ICBM's 2020 Event and Network Calendar
The schedule is out for ICBM's 2020 networks, workshops, conferences, and convention.


Here's an idea: Print one for you, then print another for your break room.


Big banks show their commitment to rural areas
Nearly 800 rural counties lost 1,533 bank branches, representing 14 percent of their total branches, the Federal Reserve said in a new report . 

Forty-four counties were “deeply affected” by closings, defined as a county that had 10 or fewer branches in 2012 and lost at least 50 percent of those branches by 2017, the Fed said.

ICBM has previously reported that U.S. Bank, Wells Fargo, and TCF Bank have closed hundreds of branches across the country. Minnesota’s own U.S. Bank is another example: the $488 billion institution recently announced plans to cut jobs and restructure its branch footprint.
Regulators remove hemp banking SAR requirement
Banks will not be required to file suspicious activity reports for customers solely because they are engaged in the growth or cultivation of hemp, federal and state regulators said .

Comments on the USDA's interim final rule , which establishes hemp production guidelines beginning with the 2020 crop year, are due Dec. 31.
SCOTUS sets hearing date for CFPB constitutionality case
The Supreme Court last week said it will hear arguments March 3 in a case challenging the constitutionality of the Consumer Financial Protection Bureau's leadership structure.

The case will determine whether a president has the discretion to fire the head of the independent agency without cause.
Challenges in setting 2020 land rental rates
Negotiating equitable land rental rates for 2020 be more challenging than usual given variable crop yields in 2019, continued low grain market prices, and uncertainty surrounding trade negotiations.

Keep reading for a breakdown of how these issues could affect negotiations.
Mark Your Calendar
Is your bank truly ready for a cyber attack?
ICBM has partnered with SHAZAM to bring your CEO, Marketing Director, and IT officers for training, discussion, and planning for a cyber attack.
We want you to be ready!

Email Patti Coles at pcoles@icbm.org to register

Who: CEO, IT Officer, Risk Officer, Marketing Director
When: January 29 from 9 a.m. to 3:30 p.m.
Where: ICBM Training Center
Investment: $199 for 1st registration, $99 for 2nd/3rd from the same bank.
In recognition of community banks' unique contribution to the ninth district economy, the Minneapolis Federal Reserve Bank has offered ICBM members free, early registration to its third annual Regional Economic Conditions Conference on January 9 from 8 a.m. to 12:15 p.m.

The conference will focus on state economic outlooks and key industry spotlights for the Ninth Federal Reserve District and Minnesota.
Beth Ford, president and CEO of Land O’Lakes, will kick off the conference with a keynote address and a moderated Q&A with Neel Kashkari, Minneapolis Fed president.

Register now! The event opens to the general public tomorrow.
Faces and Places
Farmers State Bank, Hartland, was named one of ICBA’s Best Community Banks to Work For 2019 by the Independent Banker for going “above and beyond to build a positive culture.”

Independent Banker recognized Farmers State Bank's culture as "one major reason why Farmers State Bank is a great place to work" according to its employees.

Farmers State Bank was honored with four other community banks. Independent Banker reported that 99 percent of community bank employees would recommend their employer to others. "In a tight labor market, that number is something to shout about," the publication's editors wrote. "Based on anonymous employee responses, our first-ever Best Community Banks to Work For awards recognize banks that have built exceptional work experiences for their employees."

(Pictured: The culture committee at Farmers State Bank includes (top row, from left) Abby Stoa and Amy Schmidt, (middle row) Susie Miller and Jessica Tomschin, and (bottom row) Jackie Henke and Cindy Recknor.)

  • Congratulations to Sunrise Banks' Bill Reiling and his wife Joan. They are receiving the Life of Distinction Award from Catholic Charities today.


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