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Washington Evening Journal
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Washington, IA 52353
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Iowa bank lending grows for first time since 2009
Iowa bank lending ticked upward for the first time in two years but bankers aren?t ready to declare the recession is over.
Loans for 348 Iowa-based banks increased in the past quarter to $41.5 billion. The Des Moines Register reported that is still below $42.2 billion from a year ago and far behind the 2008-year end high of $44.3 billion.
Charlie Funk, president of MidWestOne Bank in Iowa City, says loan ...
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Sep. 30, 2018 7:53 pm
Iowa bank lending ticked upward for the first time in two years but bankers aren?t ready to declare the recession is over.
Loans for 348 Iowa-based banks increased in the past quarter to $41.5 billion. The Des Moines Register reported that is still below $42.2 billion from a year ago and far behind the 2008-year end high of $44.3 billion.
Charlie Funk, president of MidWestOne Bank in Iowa City, says loan demand is improving but still sporadic.
Funk says companies are sitting on cash and don?t want to hire people. While farm lending is growing, he says some farmers don?t need to borrow money.
