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At home with HOA banking

Independent Banker

Looking for an avenue to increase its deposit base, Academy Bank tapped into a market it hadn’t explored before: homeowners associations. Location: Kansas City, Mo. Academy Bank in Kansas City, Mo., is a full-service commercial bank with 80 branch locations in Arizona, Colorado, Kansas and Missouri. By William Atkinson.

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Small banks: Big challenges and big opportunities

Abrigo

For smaller banks, longer-term industry consolidation trends and competition are also eroding deposit market share. According to the Federal Reserve Bank of Kansas City , community banks’ deposit market share dropped to 15% in 2022 from 22% in 2013. The result? The result? Worried about complying with the CFPB 1071 rule?

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Federal Reserve To Launch FedNow Instant Payments System 

PYMNTS

The move was described by Kansas Federal Reserve President Esther George as the biggest infrastructure upgrade embraced by the Federal Reserve since the ACH system went online in 1972. While the private service has a large part to play in this market, she noted, the Fed’s size, scale and long history in the U.S.

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Ag lending outlook & top challenges

Abrigo

As farmers adjust their credit needs in response, banks with a higher share of agricultural loan activity (“ag banks”) may see demand for loans increase,” Kansas City Fed economist Francisco Scott said in a recent research report. Department of Agriculture projects a 4.5% and eggs could increase by 25% in 2022. Best positioned.

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Non-performing ag loans increase, says lender survey

Abrigo

Agricultural lenders are reporting increases in non-performing farms loans and decreased farmland values, according to the latest Agricultural Lender Survey conducted by the Kansas State University Department of Agricultural Economics. Lenders cited lower commodity prices, rising operating costs and the softening of cash rents.

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Uber Facilitated More Than $600M In Tips For Drivers

PYMNTS

Lyft , noted the report, is operating in fewer markets than Uber — Lyft is in the U.S. and Canada while Uber has operations around the world. The report noted that Uber drivers are earning the most tips in Salt Lake City, Utah; San Antonio, Texas; Kansas City, MO; New Orleans, LA; and Nashville, TN.

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Car Vending Machine Company Carvana Goes Up Against Wall Street

PYMNTS

This year we expect another year of market-leading growth. Noting that existing Carvana markets grew by 84 percent, he said, “The company’s four oldest markets each more than three years old grew by 50 percent and our oldest cohort of Atlanta grew by 18 percent. New Markets. In 2019, we increased GPU by $750.

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