ABA: 2022 Ag Lender Survey Finds Interest Rate Volatility is Top Concern in 2023
ABA, Farmer Mac joint survey reveals ag lenders are most concerned about impacts of inflationary pressure on farmers and ranchers The top concern facing agricultural lenders going into 2023 is interest rate volatility, according to the 2022 Agricultural Lender Survey report produced jointly by the American Bankers Association and the Federal Agricultural Mortgage Corporation, more commonly known…
EDA: Over $47 Million in American Rescue Plan Funds Invested Last Week
The following grants were made under the American Rescue Plan Funds program: September 6, 2022 – U.S. Department of Commerce Invests $4.7 Million in American Rescue Plan Funds to Support Small Businesses on Fort Apache Indian Reservation September 6, 2022 – U.S. Department of Commerce Invests $3.5 Million in American Rescue Plan Funds for Water Utility Improvements…
ABA: Farm Bank Lending Increased to $99.6 Billion in 2021
Farm banks held $14.6 billion in PPP loans, $43.8 billion in small and micro loans Agricultural lending by U.S. farm banks increased 5.5% in 2021 to $99.6 billion, according to the American Bankers Association’s annual Farm Bank Performance Report. The report attributed the change to a 7.5% increase in outstanding loans secured by farmland and…
Federal Bank Regulatory Agencies Release 2020 Small Business, Small Farm and Community Development Lending Data
The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2020. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The…
ABA: Indiana Banker and Ohio Farm Broadcaster Receive Top Ag Banking Awards
The American Bankers Association today announced the recipients of its Bruning and Blanchfield Awards, the association’s premier awards presented for significant contributions to agricultural banking. ABA will honor Joseph F. Kessie, senior vice president and commercial regional manager of Lake City Bank in Indiana, with the Bruning Award and Joe Cornely, founder of Farm Media…
FFIEC: Federal Banking Agencies Announce Availability of 2019 Small Business, Small Farm, and Community Development Lending Data
The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. The agencies releasing the data are the Board…
FDIC: Federal Banking Agencies Announce Availability of 2019 Small Business, Small Farm, and Community Development Lending Data
The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. The agencies releasing the data are the Board…
OCC: Federal Banking Agencies Announce Availability of 2019 Small Business, Small Farm, and Community Development Lending Data
The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. The agencies releasing the data are the Board…
ABA: Farmer Mac and ABA Joint Ag Lender Survey Reveals Top Concerns in an Uncertain Year
As the farm economy continues to work through a prolonged downturn in the midst of an unparalleled, global economic dislocation, ag lenders remain focused on credit quality, according to the Fall 2020 Agricultural Lender Survey report produced jointly by the American Bankers Association and the Federal Agricultural Mortgage Corporation, more commonly known as Farmer Mac. When it…
SBA: Economic Injury Disaster Loans Available to U.S. Agricultural Businesses Impacted by COVID-19 Pandemic
U.S. Small Business Administration Administrator Jovita Carranza announced today that agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs. SBA’s EIDL portal will reopen today as a result of funding authorized by Congress through the Paycheck Protection Program and Healthcare Enhancement Act. The legislation, signed into law by the President one week…