Hometown banks weather storm | TSLN.com

Hometown banks weather storm

Susanne Stahl

SIOUX FALLS, SD (DTN) – The headlines sound ominous: Bank failure, credit crunch, plummeting stocks, escalating costs. While these are certainly weighty issues, most Midwest producers are still likely to see a profitable 2008. That’s one bright spot; another is that rural community banks are weathering the turmoil in the financial markets without any damaging blows to their asset quality, some leading agricultural banks in South Dakota told DTN.

“The banks in the rural Midwest are in relatively good condition,” said Troy Vander Stouwe, manager of the ag banking group at the First National Bank in Sioux Falls. “We weren’t influenced by a lot of the subprime lending and huge increases in home values that other areas of the country saw. And in areas such as Sioux Falls and, in some degree, the Midwest we’ve had, by comparison, pretty good economic times; having said that, nowhere is totally immune from the scope of what you see on the national level.”

SIOUX FALLS, SD (DTN) – The headlines sound ominous: Bank failure, credit crunch, plummeting stocks, escalating costs. While these are certainly weighty issues, most Midwest producers are still likely to see a profitable 2008. That’s one bright spot; another is that rural community banks are weathering the turmoil in the financial markets without any damaging blows to their asset quality, some leading agricultural banks in South Dakota told DTN.

“The banks in the rural Midwest are in relatively good condition,” said Troy Vander Stouwe, manager of the ag banking group at the First National Bank in Sioux Falls. “We weren’t influenced by a lot of the subprime lending and huge increases in home values that other areas of the country saw. And in areas such as Sioux Falls and, in some degree, the Midwest we’ve had, by comparison, pretty good economic times; having said that, nowhere is totally immune from the scope of what you see on the national level.”

SIOUX FALLS, SD (DTN) – The headlines sound ominous: Bank failure, credit crunch, plummeting stocks, escalating costs. While these are certainly weighty issues, most Midwest producers are still likely to see a profitable 2008. That’s one bright spot; another is that rural community banks are weathering the turmoil in the financial markets without any damaging blows to their asset quality, some leading agricultural banks in South Dakota told DTN.

“The banks in the rural Midwest are in relatively good condition,” said Troy Vander Stouwe, manager of the ag banking group at the First National Bank in Sioux Falls. “We weren’t influenced by a lot of the subprime lending and huge increases in home values that other areas of the country saw. And in areas such as Sioux Falls and, in some degree, the Midwest we’ve had, by comparison, pretty good economic times; having said that, nowhere is totally immune from the scope of what you see on the national level.”

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SIOUX FALLS, SD (DTN) – The headlines sound ominous: Bank failure, credit crunch, plummeting stocks, escalating costs. While these are certainly weighty issues, most Midwest producers are still likely to see a profitable 2008. That’s one bright spot; another is that rural community banks are weathering the turmoil in the financial markets without any damaging blows to their asset quality, some leading agricultural banks in South Dakota told DTN.

“The banks in the rural Midwest are in relatively good condition,” said Troy Vander Stouwe, manager of the ag banking group at the First National Bank in Sioux Falls. “We weren’t influenced by a lot of the subprime lending and huge increases in home values that other areas of the country saw. And in areas such as Sioux Falls and, in some degree, the Midwest we’ve had, by comparison, pretty good economic times; having said that, nowhere is totally immune from the scope of what you see on the national level.”

susanne stahl can be reached at susanne.stahl@dtn.com