Rural Bank CEOs Report High Confidence for February

An economic index from Creighton University shows rural bank CEOs are still confident in the Midwest economy.

February’s Rural Mainstreet Index, which covers 10 states in the Midwest, including Nebraska, shows bank CEOs' confidence at the highest level since June 2013. February's confidence index grew to a value of 58.1, while January's value was 50.

Ernie Goss, Creighton University economics professor and creator of the Rural Mainstreet Index, said the high confidence surprised him.

“With the coronavirus situation, that’ll affect agriculture very significantly," Goss said. "Now again, at this point in time, I think those impacts will be moderate, but those could get larger.”

The confidence comes from the signing of recent trade agreements with Mexico, Canada and China; however, the virus’s impact could put a dent in farm income and agriculture equipment sales, Goss said.

The overall results of the index declined to 51.6 from January's 55.9, but still show positive growth. The state economies that rely heavily on farming and ranching, like Nebraska and Iowa, saw lower results this month. Nebraska's index sank to 48.3 from 49.1 in January, while states that rely on tourism saw better results in February.