- Overall index rocketed to a record high.
- Approximately, 60.6% of bank CEOs reported that their local economy expanded between April and May.
- Almost nine of 10 bank CEOs indicated that hiring at their bank and in the area was restraining growth.
- For the first time since 2013, the regional farmland prices expanded for eight straight months.
- On average, bankers reported annual cash rent per acre of $228, which represented growth of 7.3% over the past 12 months.
OMAHA, Neb. (May 20, 2021) – For the sixth straight month, the Creighton University Rural Mainstreet Index (RMI) climbed above growth neutral. According to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.
Overall: The overall index for May jumped to a record high of 78.8 from April’s very healthy 69.0. The index ranges between 0 and 100 with a reading of 50.0 representing growth neutral.
Approximately, 60.6% of bank CEOs reported that their local economy expanded between April and May.