Department of Agriculture Sec. Tom Vilsack testified before the House Agriculture Committee on the state of the rural economy and the upcoming reauthorization of the farm bill.
Browsing: Rural banking
The ABA Foundation—in partnership with the Kentucky Bankers Association—has raised nearly $40,000 to support relief efforts in the wake of recent devastating tornadoes in Kentucky through its Disaster Relief Program. ABA also announced that it will make a $50,000 donation to the fund.
On Dec. 10-11, 2021, a violent line of tornadoes moved across several states, including Kentucky,…
Changes at the U.S. Department of Agriculture and congressional leadership made 2021 an exciting year in policy development, and the coming year promises even more change.
The U.S. Department of Agriculture is deploying $100 million under the new Food Supply Chain Guaranteed Loan Program to make nearly $1 billion in loan guarantees.
Credit quality for both loans secured by farmland and agricultural production loans improved in 2021, ag lenders reported in the joint ABA-Farmer Mac Agricultural Lenders Survey. In the next 12 months, lenders expect credit quality will either moderately improve or stay the same.
A majority of ag lenders—69.7%—reported that overall farm profitability increased in the prior year, due in large part to government support, which is estimated to account for 38% of ag borrowers’ net income, according to the 2021 Agricultural Lenders Survey conducted by ABA and Farmer Mac.
The Federal Housing Finance Agency announced plans to expand refinance programs introduced last spring for low- to moderate-income borrowers.
ABA today announced the recipients of its Bruning and Blanchfield Awards, the association’s premier awards presented for contributions to ag banking.
In 2020, local business conditions were top of mind for community bankers. This year, the lingering effect of COVID-19 on local economies has created a new concern: historic levels of deposits and narrow net interest margins.