Community Banking and Risk Premia
By Corey Chambas As a fundamental economic principle, there is typically a fair trade-off between risk and return. In the investment world, where risks are taken on various asset classes, risk premia are the returns received above the risk-free rate earned in exchange for taking that risk. Where there are sufficient buyers and sellers of…
Navigating the Green Frontier: The Challenges and Opportunities of Cannabis Lending
By Alex Leonowicz From an outsider’s perspective, the cannabis industry can look rosy. For instance, the state of Michigan is on pace to hit a record ‘high’ $3.2B in overall sales in 2024, highways are littered with cannabis billboards and many dispensaries still have lines out the door. The industry is massive. But, a closer…
Cybersecurity and AI — What Community Banks Should Know
By Steve Sanders Artificial intelligence (AI) has dominated headlines and conversations over the last year, with various industries exploring what this technology means for automation, collaboration, communication and more. However, new challenges come with those opportunities to streamline processes, particularly in cybersecurity. Banks should know the following perils and tips to minimize risk when incorporating…
Doing Your Homework: Why Online Reviews Matter for Banking Decisions
By Corey Wrinn Why ask one person for a recommendation when you have the wisdom of millions at your fingertips? Online reviews have become a crucial factor in shaping consumer decisions across various industries, including the banking sector. The influence of these crowdsourced opinions is undeniable, as consumers increasingly seek transparency and authenticity in their…
How CFPB’s Rule 1033 Could Affect Data Rights and Open Banking
By Bradley Wallace The Consumer Financial Protection Bureau (CFPB) estimates that 100 million consumers have authorized third parties to access their data. That data drives endless business decisions and capabilities. But financial institutions and technology developers must also be aware of regulations regarding consumers and their rights over their data. One such proposed regulation, Rule…
Better Together – Part II
By Bill Pilkington In Part One (Great Lakes Banker, June 2024, page 28), I presented facts that led to the carnage that was the “Great Recession” beginning about 2007. Our free market economy has demonstrated an economic check generally every 10-12 years. For purposes of our discussion, I will use the “standard” definition of recession…two…
M&T Bank Names Lopa Kolluri Head of Affordable Housing Lending
NEW YORK, — M&T Bank has appointed Lopa Kolluri Head of Affordable Housing Lending. In this new role, Kolluri is responsible for the development, oversight, and day-to-day management of the Affordable Housing vertical within M&T’s Commercial Bank. Kolluri will execute M&T’s affordable housing business strategy and establish operational processes and governance structures to ensure the…
Foresight Financial Names Todd J. James CFO
WINNEBAGO, Ill., — Foresight Financial Group, Inc., the holding company of German American State Bank, State Bank of Davis State Bank in Freeport, Lena State Bank, Northwest Bank and State Bank of Herscher, has appointed Todd J. James Chief Financial Officer of Foresight. James assumes the duties of retiring Foresight CFO Dean Cooke following 27…
AgriBank Names Brad Hoffelt CFO
ST. PAUL, Minn., — Brad William Hoffelt has been named chief financial officer at AgriBank following a national search. Hoffelt has more than 25 years of experience in the financial services industry, including leading high-performing global finance organizations at U.S. Bank and GE. As CFO and a member of the AgriBank Executive Leadership Team, Hoffelt…
CEO Phil Koning to Retire from West Michigan Community Bank
Matt Hoeksema to succeed Koning HUDSONVILLE, Mich., — West Michigan Community Bank President and CEO Phil Koning will retire April 30, 2025. Phil has 50 years in the banking/finance industry, thirteen of those years as President and CEO of West Michigan Community Bank. When Phil started with WMCB in 2011 there were four locations in…