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Banking & Financial Services

Two-State Region Shows Growth, Wholesale Inflation Expected to Climb

The Mid-American Business Conditions Index for June evidence of economic growth slowing pace despite reporting the region’s overall index climbed above growth neutral for the fifth month in a row. The survey, published by Creighton University, showed the Business Conditions… more

SBA Probe: More than $200 Billion in Pandemic Loans Were Fraudulent

The inspector general for the U.S. Small Business Administration says the agency disbursed more than $200 billion in potentially fraudulent COVID-19 loans through various programs rushed into existence at the dawn of the 2020 pandemic. In a new report issued… more

American Century Will Acquire Venture Capital Firm 3×5 Partners

Kansas City-based American Century Investments announced it will acquire the impact venture capital team 3x5 Partners, leading the investment service into private markets. The transaction with 3x5 Partners is expected to be completed in Q3 this year, according to a… more

KC Rise Fund Brings Additional $34 Million in Venture Funding

KC Rise Fund has closed its third venture-capital fund, which will bring $34 million in new capital to fund technology startups in the Kansas City region. Like its two predecessor funds, KCRise Fund I and II, the latest installment aims… more

Fed Stress Test Show Biggest Banks Positioned to Withstand a Crisis

The Federal Reserve System has released results of its annual banking stress test for 2023, showing that 23 large banks assessed had sufficient capital to absorb more than $540 billion in losses and continue lending to households and businesses under… more

Tighter Bank Lending Expected Across 2023, Monetary Policy Report

The Federal Reserve’s semiannual Monetary Policy Report released this month claims the banking system remains resilient, however, concerns about liquidity positions, deposit outflows, and funding costs continue to plague the economy. In the report, the Fed noted the recent banking… more

Two Kansas City Banks Break Top 5 in Best of State

As part of the sixth annual ranking of the Best Banks In Each State 2023, Commerce Bancshares, Inc. and UMB have broke reached a rank of fourth and fifth respectively based on the banks’ attention to community financing. Nodaway Valley… more

Bankers Claim High Fed Rates Biggest Fear In Next 12 Months

Creighton University released its Rural Mainstreet Index report for June showing above growth neutral for the month to its highest level since May 2022. The survey’s 10-state region overall reading for June climbed to 56.9 from May’s 55.8. The index… more

Increased Fall Tuition For KS Universities Approved

After last year’s flat rate for tuition, the Kansas Board of Regents (KBOR) decided to increase tuition rates for Kansas collegiate schools. The decision was made Wednesday during a KBOR meeting. The University of Kansas, Kansas State University, Pittsburg State… more

High Unemployment Insurance Claims Remain Unchanged

In the week ending June 10, the advanced figures for seasonally adjusted initial claims were 262,000, the previous week's level was up by 1,000 from 261,000 to 262,000. The 4 week moving average was 246,750, an increase of 9,250 from… more