Hoosier Banker 33 Horizon Bank, Michigan City, has pledged $250,000 for COVID-19 relief. Among the organizations being assisted are food pantries, health and hospital foundations, faith-based organizations, community care centers, the Salvation Army and several area United Ways. Contribution examples include: $5,000 to Food Bank of Northwest Indiana; $12,500 to the Franciscan Health Foundation; $2,000 to the Shepherd’s Center in Hamilton County; $10,000 to the Porter County Community Foundation; $4,500 to Brightpoint of Northeast Indiana; $10,000 to the United Way of Porter County; and $1,000 to the Milford Food Bank. Members of the junior board of directors of Alliance Bank, Francesville, presented $200 each to the Humanitarian Distribution Center and the White County Food Pantry in support of the organizations’ COVID-19 relief. Alliance Bank created the junior board to develop leadership skills in local high school students while connecting them with businesses and service organizations. The bank supports the students by providing $15 per hour of service to give away at the end of the school year. The 2019-20 junior board volunteered a total of 27 hours during the shortened school year. Citizens State Bank, New Castle, teamed with the Bob & Tom Show of Q95 Radio to raise funds for Huse Culinary to supply boxed lunches for first responders and essential workers during the COVID-19 pandemic. Listeners were invited to call in pledges, with the Bob & Tom Show matching up to 500 donations and Citizens State Bank matching up to 200. The goal was to provide 1,400 meals of two filet sliders, chips and dessert in appreciation to the healthcare community. on operating notes that now need to be extended or collateralized. Collateral Required The index for collateral required for an agricultural loan increased to a value of 123. This is the highest this number has been since the fourth quarter of 2018 and also signals that bankers see more risk in the agricultural sector. This increase comes as no surprise given the decrease in farm income and loan repayments rates. More plainly, agricultural bankers see more risk and have responded by requiring more collateral. To summarize, the agricultural sector is experiencing an increase in risk. Much of what is reported in this article may sound dire, but it should be noted that agricultural loan bankruptcies have not seen much of an increase. Farm incomes have trended downward with decreased working capital resulting in lower repayment rates, but this has yet to manifest as a large increase in farm bankruptcies. The agricultural sector remains strong, but another shock or any prolonging of depressed commodity prices would spell trouble for many farmers. HB BANKING ON COMMUNITY First Farmers Bank & Trust, Converse, in partnership with pork producers and processors, has initiated a direct assistance program to provide protein to food banks throughout Indiana and eastern Illinois. Established in response to disrupted availability of protein, due to COVID-19-related shutdowns of area processing plants, “Pigs to People to Pork” is an ad hoc network of farmers and processors willing to donate or dramatically reduce livestock and processing costs. Hoosiers Feeding the Hungry assists with the distribution to food banks. First Bank Richmond contributed $37,500 in March toward its 10-year pledge of $375,000 to Indiana University East. Additionally, the bank made the following donations in March: $15,000 to the Reid Health Foundation; $30,000 to the Richmond Symphony Orchestra; $5,000 to Richmond High School football; $7,000 to Richmond Parks and Recreation; $40,000 to Wernle Youth & Family Treatment Center; $19,000 to the Wayne County Area Chamber of Commerce; $3,000 to Friends of Mainstreet Piqua Inc.; $10,000 to Wayne County Foundation; $20,000 to Girls Inc. Wayne County; $7,500 to the First Tee Program; and $10,000 to Purdue Polytechnic. Pigs to People to Pork, a program implemented by pork producers and processors in partnership with First Farmers Bank & Trust, assists with distribution of protein to food banks. The pledge of First Bank Richmond to Indiana University East included the renaming of the Whitewater Hall community room. Garry Kleer, president and CEO of First Bank Richmond, and Kathryn Girten (far right), chancellor of IU East, receive ribbon-cutting assistance from an IUE student. Chase Connell (left) chairperson of the Alliance Bank junior board of directors, greets Don Pilarski, board member of the White County Food Pantry, with an elbow bump while making a donation. Connell additionally works part-time for the bank. Continued on next page.
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