September 12, 2013 by Stephen
According to Bizjournals, the Federal Reserve Bank of Kansas City which regulates banks in a seven-state region, allowed for land development and construction loans to be made during the second quarter. According to the recent report by the Federal Reserve Bank of Kansas City, the banks only netted a profit of $110 million over loans in the quarter which isn’t much, but is an improvement compared to previous quarters where banks shunned construction and land loans.
While home equity credit lines remained unchanged, $760 million was made in the quarter through commercial and industrial loans. The banks in the region received $3.45 billion in the quarter from loans.
Even though loan levels increased throughout the region during the 12 months ending June 30th, New Mexico’s loan-to-asset ration fell by 63 percent during this time frame, previously being at 64 percent the year before and 65 percent in 2011.
The rest of the region’s ratio was just over 56 percent. The states included it the region that the Kansas City Federal Bank oversees are Wyoming, Kansas, Missouri, New Mexico, Colorado, Oklahoma and Nebraska.
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