Housing starts decreased by 5.5% in May from the month prior to a seasonally adjusted annual rate of 1.28 million, the Commerce Department reported today. The rate was 10% below the May 2023 level. New building permits—an indicator of future demand—dropped 3.8% in May from the month prior and were 9.5% lower than last year.
Small Business Bank in Kansas closed by regulators
Kansas regulators closed Small Business Bank in Lenexa, Kansas, and appointed the FDIC as receiver. The Farmers State Bank of Oakley, Kansas, agreed to assume substantially all deposits and purchase certain assets.









