Banking & Financial Services

Fed’s New Interest Rates Reach 22-Year High

Posted July 27, 2023 The Federal Reserve announced Wednesday it will increase interest rates to 5.5 percent, a high rate not seen in 22 years. All members of the Federal Open Market Committee voted to raise the interest rate range… more

June Homes Sales Compare Well To A Year Ago

Posted July 27, 2023 June sales for new U.S. single-family homes decreased following a three-month increase trend, however, the availability of new homes could mean a looser grip on the market for buyers seeking affordability. Singal-family homes experienced sales of… more

GDP Tops Estimate and Rises to 2.4 Percent in Q2 2023

Posted July 27, 2023 The U.S. economy’s gross domestic product increased at a 2.4 percent annualized rate for the second quarter, according to the Commerce Department. The department reported Thursday the recent rate while economy experts from Dow Jones expected… more

Regional Rural Mainstreet Index Drops for July

Posted July 20, 2023 Creighton University released its Rural Mainstreet Index (RMI) report for July suggesting the two-state region experienced similar drops in the month. The Kansas RMI for July decreased to 55.2 from June’s 55.3. KS farmland-price index climbed… more

UMB Appoints New President of Institutional Banking

Posted July 20, 2023 UMB announced Tuesday the former director of Healthcare Services, Phil Mason, will be the new president of Institutional Banking for the financial corporation. Mason has 18 years of experience under UMB and has worked closely with… more

V Wealth Merges With Las Vegas-based Wealth Consulting Group

Posted July 20, 2023 Financial advising group V Wealth, based in Overland Park, merged with Wealth Consulting Group, a hybrid RIA firm headquartered in Las Vegas, raising the buyer's assets in the billions. The merger with V Wealth—advising more than… more

KC Fed Bank; Little Change in Economic Activity for June

The Federal Reserve Bank released its June Beige Book Wednesday, indicating the Kansas City district remained flat in economic growth. The level of economic activity across Kansas City changed little during June, with a mix in performance across segments, according… more

Husch Blackwell Names New Chief Executive Elect

The national law firm Husch Blackwell announced Monday that Jamie Lawless was appointed the chief executive elect, fully taking over the role from current CEO Paul Eberle early next year. Lawless will continue to work with Eberle until she steps… more

June Consumer Price Index, Inflation Cool-Off Continues

Consumer prices increased by 3 percent over the past 12 months, an indicator of a steady decrease in inflation, according to the U.S. Bureau of Labor Statistics. The June Consumer Price Index, released Wednesday, showed the Consumer Price Index for… more

KC Small Business Lending Declines For Q1 2023

The Federal Reserve Bank of Kansas City reported Friday that small business lending has taken a fall in Q1 2023. Small business commercial and industrial (C&I) lending dropped sharply in Q1 with a decrease of 15.9 percent from the same… more