Bank (Midwest) industry

Article Abstract:

Stocks for Midwestern banks are not timely for the 1st qtr of the year 2000 with earnings challenges and rising interest rates being the main causes for the decline. Bank mergers have also not produced the cost savings that have been expected for the industry, also. These stocks are expected to perform below or with the market during the year 2000, but several have potential for the next three to five years.

Industry Overview, Old Kent Bank and Trust Co., FBS

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Bank (Midwest) industry

Article Abstract:

Low earnings fears, Year 2000 issues, and rising interest rates have had an impact on the Midwestern bank industry, and these stocks have not performed well in 1999. Declining stock values and the Year 2000 issue indicate that industry consolidation is expected to slow, and concerns are growing over profit margins and earnings, as well. These stocks are not expected to outperform the market in 1999 and the year 2000, and investors need to be selective within this industry.

East North Central States, East North Central United States, First American Corp. (Nashville, Tennessee)

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Bank (Midwest) industry

Article Abstract:

Midwestern bank stock prices have been lackluster in 1999 due to concerns over year 2000 problems, rising interest rates, and profit shortfalls during the year. However, rising fee income, reduced costs, and stabilized interest margins, along with the impact of financial services reform legislation, should help profit growth in the year 2000. Investors must be selective with these stocks, however, as only a few are expected to outperform the market.

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