Banking

The chief economist for PNC Bank said relief is coming to the stalled housing construction sector in Central Illinois and wage growth will start to make up for lost buying power caused by inflation.

Nonbank loans to small businesses have grown rapidly in recent years, but nonbank commercial lenders aren’t required to disclose the annual percentage rate to borrowers.

Moody's Investor's Service has downgraded the credit rating of a regional bank with a strong central Illinois presence. The one notch reduction of Commerce Bank from a1 to a2 is among downgrades of 10 small to mid-sized banks.

The incoming CEO of Bloomington-based Heartland Bank and Trust says the $5 billion company will seek only growth opportunities that make sense to its core community bank mission.

A central Illinois based credit union has given an extra $35 million to owners. Peoria-based CEFCU said in a news release the extraordinary dividend reflects strong financial results. Credit unions are member-owned and participate in profits.

The merger of Bloomington-based Heartland Bank and Trust and Springfield-based Town and Country Bank, announced in August, is part of an ongoing national trend.

Busey Bank is closing its Uptown Normal location, as of Friday.The Champaign-based bank has three other branches in McLean County, including the North…

Exposure to increased regulation and choosy customers not interested in one-stop shopping for insurance and banking are likely among the reasons why State…

Illinois Treasurer Michael Frerichs will visit Normal on Thursday to promote a savings program for those with disabilities.Frerichs will speak at 6:30…

Heartland Bank and Trust’s holding company could soon become one of the few Bloomington-based businesses to be publicly traded on the stock market.HBT…