Community Banking News Blog | Community Bankers of Iowa (CBI)

LOT Members hold Fall meeting at Kinnick Stadium

9/23/2022

CBI's Leaders of Tomorrow (LOT) group members held their Fall Business Meeting at Kinnick Stadium in Iowa City. Guest speaker Alicia Nicoletto from Nyemaster Law updated LOT members on changes to the Uniform Commercial Code, non-fungible tokens (NFTs), cryptocurrency and other issues in digital asset management.

Scott Brickman, EVO/COO of the Swarm Collective NIL presented on that organization's mission and developments in "Name, Image, Likeness" contracts, on the rise after recent NCAA regulation changes regarding college sport player compensations. Brickman explained that an important part of the Collective's purpose is to assist players in the process, and that verifiable, ongoing community service and outreach is required as part of a player's agreement with the Collective.

Community Bank Index (QCBI) State Performance Trends: 2022Q2

8/15/2022

compiled by CBI Endorsed Member QwickRate

STATE OF THE STATE: IA 2nd Quarter 2022
Key industry trends for the "true" community bank.

Click each image to view larger, or download the entire report (PDF, 1MB)

Download Full Report.
File Size:	997 kb
File Type:	pdf

Storey Kenworthy & Workspace still accepting grant applications through Aug. 31

8/15/2022

CBI Endorsed Member Storey Kenworthy & Workspace Foundation for Giving is accepting grant applications from qualified non-profit organizations until Aug. 31, 2022.

Five $5,000 grants will be awarded to selected non-profits whose programming aligns with the core giving priorities:

Abuse & Violence Prevention
Children & Education
Diversity, Equity & Inclusion
Mental Health Awareness & Services

Additional information about the Storey Kenworthy & Workspace Giving Programs and a grant application is available at www.storeykenworthy.com/community.

The Storey Kenworthy & Workspace family of companies, with 10 locations across Iowa, is a family-owned, independent office supplies and commercial interiors dealership.

CBI Members Take 2nd in Big Boar Contest

8/12/2022

Tim Wolf, president of State Savings Bank in West Des Moines and Paul Kruse, SVP-Iowa Office with PMA Funding are part of the ownership group that took 2nd Place in the Big Boar Contest at the Iowa State Fair yesterday.

Their entry "Purdy Boy", a 6-year-old Chester cross breed shown by the Purdy Boy Partnership of Pleasant Hill, weighed in at 1156 pounds. The 1st Place Boar "Pee-Wee" just edged him out at 1300 lbs.

Purdy Boy will be on display at the Iowa State Fair in the Swine Barns through August 21. Congrats guys!

Purdy Boy waiting his turn in yesterday's
Big Boar Contest at the Iowa State Fair.

Tim Wolf (white shirt on the far right) assists in getting
Purdy Boy on the scale for weighing in.

Community Bank Index (QCBI) State Performance Trends: 2021Q2

8/24/2021

compiled by CBI Endorsed Member QwickRate

STATE OF THE STATE: IA 2nd Quarter 2021
Key industry trends for the "true" community bank.

Download Full Report.
File Size:	989 kb
File Type:	pdf

Click each image to view larger, or download the entire report (PDF, 1MB)

Rural Mainstreet Index Soars to Record High: 90% of Bankers Report Labor Shortages Restraining Growth

5/24/2021

May Survey Results at a Glance:

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.

Iowa Legislature Update: Week Ending May 13, 2021

5/14/2021

View the Iowa Legislative Bill Tracker

Iowa lawmakers inch toward adjournment
Legislative leaders worked mostly behind the scenes this week crafting a massive tax relief package, setting the stage for adjourning the 2021 session potentially as early as next week.

House and Senate GOP leaders have been at odds over their must-do items on tax policy. The latest Senate bill, SF619, is a sweeping proposal that includes many of the priorities leaders from both chambers have wanted to include in tax reform this year. Among the bill’s chief provisions:

Fully implementing income tax cuts passed in 2018 in SF2417, which reduces rates and the number of tax brackets.
The tax changes were set to go into effect only if revenue targets were met.
Eliminating what is known as “federal deductibility,” which allows taxpayers to deduct what they pay in federal taxes from their Iowa tax bill
Shifting mental health services funding from local property taxes to the state
Expanding the childcare tax credit to apply to taxpayers making up to $90,000. Currently, only those making up to $45,000 qualify for the credit.
Phases out the inheritance tax over three years, with a full repeal in 2024
Requires health insurers to pay providers the same rate for telehealth mental health services as they pay for an in-person visit
Creates an Energy Infrastructure Revolving Loan Program to develop energy infrastructure.

Iowa Legislature Update: Week Ending April 29, 2021

4/30/2021

View the Iowa Legislative Bill Tracker

Census results show Iowa keeping all four congressional seats
Iowa will retain all four of its seats in the U.S. House after preliminary data from the 2020 Census show Iowa with modest population growth of 3.6 %.

As more detailed Census data is released, Iowa lawmakers will be required to vote on new congressional and legislative districts that become effective for the 2022 election. Iowa has an often-praised, nonpartisan process for drawing new political maps. Most of the work is left to computers, which will draw new district lines to create 50 Iowa Senate and 100 Iowa House seats, along with four districts for U.S. Congress.

The Des Moines and Iowa City metro areas had the fastest growth in population and are expected to gain new legislative seats, while most rural parts of the state continue to lose residents.

Iowa Legislature Update: Week Ending April 22, 2021

4/23/2021

View the Iowa Legislative Bill Tracker

Budget and tax issues loom as lawmakers look to adjourn
Iowa lawmakers are negotiating tax policy and next year’s budget in an effort to shut down the 2021 session in the coming weeks. The Legislature’s scheduled end is Friday, April 30, but it appears unlikely lawmakers will complete their work by then, pushing the 2021 session into overtime.

In a sure sign adjournment is getting closer, committees on both sides are advancing appropriations bills. Agreement between House and Senate GOP leaders on overall spending has so far been elusive, but key lawmakers are working behind the scenes to find agreement in particular budget areas.

Tax issues also remain unresolved. Senate Republicans are advancing legislation that would fully implement income tax cuts passed in 2018, but it is unclear at this point what a final tax package will include.

Rural Mainstreet on Strong Growth Path: Farmland Prices Expanding Rapidly

4/19/2021

April Survey Results at a Glance:

Overall index dipped but remained in strong growth territory from March’s record high.
The farmland price index advanced its highest level since November 2012.
The farm equipment-sales index rose to its highest reading since February 2013.
Housing index soars to record level with bids above listing prices.
Lack of available workers is restraining job growth.
Approximately 9.1% of farmland sales over past six months have gone to nonfarmer investors.
Fully 100% of bank CEOs indicated that export markets were important, or very important, to their local economy.

OMAHA, Neb. (April 15, 2021) – For the fifth 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 April slipped to a still healthy 69.0 from a record high 71.9 in March. The index ranges between 0 and 100 with a reading of 50.0 representing growth neutral. Approximately, 37.9% of bank CEOs reported that their local economy expanded between March and April.