Community Bankers of Iowa Monthly Banker Update May 2014 | Page 18

(Rural Mainstreet continued from previous page)
Iowa: The April RMI for Iowa expanded to 53.5 from March’s
49.8. The farmland-price index for April advanced to 41.4 from
March’s 37.6. Iowa’s new-hiring index for April rose to 61.6
from 56.3 in March.
Kansas: The Kansas RMI for April climbed to 53.8 from 50.1
in March. The farmland-price index for April increased to 46.3
from March’s 41.3. The state’s new-hiring index advanced to
65.4 from March’s 59.2. Michael Johnson, CEO of Swedish
American Bank in Courtland indicated his bank was continuing
to make residential real estate loans, “ If we did not make them
there is nowhere else to go for financing in our rural area,” said
Johnson.
Minnesota: The April RMI for Minnesota rose to 54.1 from
March’s 50.4. Minnesota’s farmland-price index for April
increased to 50.0 from March’s 40.3. The new-hiring index
expanded to 65.7 from 57.3 in March. Pete Haddeland, CEO
of the First National Bank in Mahnomen, said, “Farmland rent
prices have peaked and are slowly starting to fall.” Brian
Nicklason, CEO of Woodland Bank in Grand Rapids registered
concern about the late spring and its impact on tourism and the
resort industry.
Missouri: The April RMI for Missouri increased slightly to
51.3 from March’s 50.9. The farmland-price index for April
slumped to 42.3 from March’s 49.7. Missouri’s new-hiring index
decreased to 55.5 from 66.0 in March.

Nebraska: For a third straight month, Nebraska’s Rural
Mainstreet Index remained below growth neutral. The index
improved to 53.0 from March’s 49.5. The farmland-price index
for April jumped to 35.8 from March’s 27.7. Nebraska’s newhiring index climbed to 57.1 from March’s 48.4. Due to rising
regulatory costs, David Steffensmeier, president of the First
Community Bank in Beemer said, “We have not stopped
making owner-occupied home loans completely, but we are
questioning the profitability of continuing.”
North Dakota: The North Dakota RMI for April bounced to
59.4 from March’s 52.6. The farmland-price index grew to
64.5 from March’s 58.6. North Dakota’s new-hiring index
rose to 80.0 from 73.1 in March. Jim Goetz, CEO of Security
First Bank of North Dakota said, “New home regulations are
driving many community banks out of the residential mortgage
business.”
South Dakota: The April RMI for South Dakota expanded
to 53.4 from March’s 49.2. The farmland-price index for April
increased to 38.1 from 29.4 in March. South Dakota’s newhiring index for April advanced to 58.9 from March’s 49.7.
Wyoming: The April RMI for Wyoming increased to 53.6 from
49.5 in March. The April farmland and ranchland-price index
grew to a weak 40.9 from March’s 33.1. Wyoming’s new-hiring
index for April improved to 61.1 from March’s 52.7.

Locknet® Managed IT Services –

The IT Answer for Hiawatha Bank
The #1 Challenge

Keeping information secure with limited in-house IT resources and expertise.

The Solution

Locknet® Managed IT Services Keysuite™ complete IT services offering.
“I’m not an IT person,” says Tim Vipond, Senior Vice President of Hiawatha Bank.
“We needed someone who understood the ins and outs of the IT issues our
industry faces. For us, the best solution is to find an appropriate third party
vendor, and that partner is Locknet® The advising and consultation I get from
.
Locknet® is critical. We simply don’t have the IT expertise we need in-house.
Locknet® provides that for us.”

“To me, it is 24 / 7 peace of

mind. I know experts are
watching our system, and
it is secure.”
— Tim Vipond
Senior Vice President
Hiawatha Bank
BUSINESS PROFILE:
Hiawatha Bank started
in 1998 as a DE Novo
bank and serves the
Cedar Rapids, IA area.

800.967.2645 | locknet-inc.com | eojohnson.com
18

CBI BANKER UPDATE | MAY 2014