In 2003, the state of Idaho experienced much of the same budget worries as many other states, although not to the same degree of severity. The 2003 Idaho legislature reacted, during the longest session in our history, by increasing the sales tax by 1? for two years. Income from that increase, a rebounding economy, state fiscal responsibility, and some one-time federal payments all combined to restore the budget to a positive outlook for 2004 and beyond. The fact that Idaho already had its financial house in order was largely responsible for the swift turn around. Idaho's balanced tax structure stimulates the growth of business, especially in the number of new businesses moving to the state, resulting in a low unemployment rate and an increasingly vibrant local economy. Idaho credit unions have contributed to this success in their local communities by helping more than 450,000 Idahoans realize their financial dreams.
-
At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
6h ago -
New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
7h ago -
According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
7h ago -
The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
8h ago -
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
8h ago -
The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
9h ago