First Midwest Group’s Post

Breaking: Dogwood State Bank is buying Community First of South Carolina. It's a big deal, as in addition to deposits, Dogwood gets a stronger foothold in SC. Dogwood, you may recall, is a new Carolinas-focused bank headquartered in #Raleigh, the product of a handful of ex-Yadkin bankers and the former Sound Bank. This is the first acquisition in the bank's history, though as its top exec told me, it's basically been adding a community bank a year just through organic growth. If analysts are right about 2024, we'll see more deals like this. And yes, it matters. Community banks fund... well, the community. And the sector has seen a lot of changes in the past year, so what happens next matters to local businesses, likely including yours. Our exclusive chat with CEO Steve Jones: https://lnkd.in/eJXDv346 att: North Carolina Bankers Association Federal Deposit Insurance Corporation (FDIC)

Sometimes deals are small, but the ideas are BIG! Propose, Close, Celebrate! Excited to announce the successful refinancing of a 40,000 SF retail center in Piqua, Ohio-out of a bridge loan to a perm loan. This value-add site had a major facelift and is well on its way to becoming a beautiful gem in the community. Huge thanks to my incredibly patient, kind clients, Rafik Moore and Alexandra Haider, for their trust and collaboration throughout this process as we crossed the finish line. We successfully navigated a few challenges along the way: 1. Expiring leases? No problem. We set up a simple account until stabilization. 2. To support cash flow, we structured the first 12 months as interest-only. 3. The property management team brings unmatched expertise, with a vertically integrated approach focused on value-add investments. The best of the best. 4. No prepayment penalty, keeping it flexible for the future. 5. And it didn’t hurt that the as-stabilized appraisal came in at over $3MM. If there is a will, there is a way. Interesting fact: Did you know Piqua was a hotspot for UFO sightings during the 1960’s? Cosmic! Big shout-out to my underwriter, Tyler Gilmore, and to Mitchell Vocke and our partners at Universal 1 Credit Union, KEMBA Financial Credit Union, CODE Credit Union, Nick Hargett, CUCE, CRVPM III, Omni Title LLC, and the rest of my amazing team at Cooperative Business Services (CBS) for making this happen. Closing days are the best days. Enjoy life! The Power of Collaboration® Need a loan? #CreditUnion #CCIM #CUSO #CRE #CommercialRealEstate #RetailRefinance #CRESuccess #ValueAddInvesting #TeamworkWins #PowerOfCollaboration #ClosingDay #CRELending #FlexibleFinancing #CommunityImpact #CBSLoans #RealEstateInvesting #LoanSuccess #CREFinancing #OhioRealEstate #RefinancingSuccess #ILoveMyJob #OhioCCIM #Celebrate #PiquaOH #UFOs

Ensuring smooth and effective communication between you and the Servicer is KEY. It can be a lengthy and complicated process, but we're here to help! Don't wait for things to get better on their own, call Brighton Capital Advisors today. #midwest #bca #chicagorealestate #chicago #denverrealestate

When is a Building Society not a Building Society? 😬 Interesting article from City AM covering the major building societies, their actions over recent takeovers and their exec rem. I read this whilst waiting to meet a client last night and thought it was well worth a read with a coffee! ☕ Lots of interesting points in here. What are your thoughts? 🤔 #buildingsocieties #banks #remuneration #growth https://lnkd.in/dmHu59GT

Our story began in a place called Wynne in the Arkansas Delta. In 1891, a group of Northeast Arkansas businessmen gathered at the old Commercial Hotel to chat about the day’s events. It was there that they first discussed the need for a bank in their small town of just one thousand people. Under the leadership of Isaac Block, a planter who owned a large amount of valuable land just outside Wynne, this discussion amongst businessmen was transformed into an actionable plan to create a bank. In May of 1891, 31 individuals committed to invest $30,000, and applied to charter Cross County Bank in the State of Arkansas. The application was approved and the charter (#25) was granted on June 5, 1891. This was a historic event as it was only the second bank to be established in all of Eastern Arkansas. After receiving the charter, the men purchased some land and began construction on Cross County Bank. The $5,042.63 price tag of the original bank building, located at the corner of Front and Union, was expensive for 1891. It was a tremendous investment, especially considering the bank only profited $156.57 in its first year of business. This small figure could have been demoralizing, however, it wasn't long before the need for a local bank became evident. In its second year, Cross County Bank’s net income grew to $52,666! In 2005, the bank expanded into Jonesboro as “First Commercial Bank,” the first branch outside of Cross County. It then acquired full-service branches in Brinkley, Manila, Monette, Osceola, and Blytheville. In 2022, a new chapter began. Having a bank with two distinct brand names was problematic for both customers and employees, so the decision was made to unify the brand under a new name—Cross Bank. This decision served the bank’s shareholders, customers, team members, and communities by sharing the 131-year legacy and unifying the customer's banking experience in all nine communities. #mycrossbank #communitybank #heritagebrand #heritage #arkansasdelta #arkansasbank #communitymatters #crossbankcares Member FDIC | Equal Housing Lender

Check out the latest analysis I worked on with my colleagues at New Economy Project. We found that the big banks the City of New York does business with are charging Black mortgage borrowers higher interest rates than white borrowers, even when controlling for income and household debt. We don't need to do business with banks that reinforce structural racism. This is why we are calling on the city to create a #publicbank to divest from Wall Street banks and invest directly in Black and brown communities through partnership with CDFIs and credit unions. Check out the analysis: https://lnkd.in/eiTeXwgz

Robert Augusto Riva spoke with Reuters about how commercial real estate exposure led to the fall in New York Community Bancorp's shares and explains how this may affect more banks in the near future. https://lnkd.in/eJGwa7VY #commercialrealestate #realestatefinance #nycb #shortsellers #coleschotz

Are you being penalised for your loyalty? It’s almost unbelievable that many lenders reserve their best deals for new customers - instead of rewarding those who stay with them through thick and thin.⠀ ⠀ If you're not 100% sure you're getting the most from your lender, then get in touch for a no-strings recommendation. Sometimes it's a matter of having a frank, informed discussion with your current bank. Other times it might mean switching to another lender. #fundingforce #melbournerealestate #pointcook #melbourne #laverton #hopperscrossing #realestate

Anytime, any day, the returns from investing in property will always outperform the returns from saving in a bank. According to Andrew Carnegie, "Ninety per cent of all millionaires become so through owning real estate." Tell us in the comments why you still prefer to keep your money dormant in the bank. . . #hillstar #hillstardevelopment #LagosLiving #LekkiApartments #NigeriaRealEstate #LuxuryLiving #propertyinvestment #LagosProperty #InteriorDesign #nigerianrealestate #lagosrealestate #nigeriapropertyinvestment #buytolet #firsttimeinvestor #buildwealth

Take some time to read Frank's note and the related article highlighting M&T Bank's impact in CT. More to do, but progress being made step by step.