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Central Missouri | Just talked to a friend of mine that is on the board of one of the small community banks in my area. They lend to farmers, small business and consumers. They just received their FDIC special assessment. Their FDIC assessment went from roughly 50k per year to 250k this year. They are widening the spread they receive to cover this. The spread is going from 4% to 5% by a combination of paying lower rates on savings and charging highr rates on loans. Just another tax on the sheeple. The chickens are coming home to roost! | |
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Bank Spreads are widening
