The Rural Banker

Row crop prices have been below production costs for four consecutive years. In this episode, Dr. Ernie Goss breaks down the April Rural Mainstreet Index, and Jeff Bonnett, President and CEO of Havana National Bank in Havana, Illinois, shares what that looks like on the ground. They cover Main Street spillover, loan renewal conversations, land values, and what policymakers may be getting wrong about rural America. Hosted by Andrew Hoover. A production of the Center for Economic Inquiry at Creighton University. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit erniegoss.substack.com

The April Rural Mainstreet Index points to continued contraction across the rural economy, with more than half of bankers reporting local recession conditions. Dr. Ernie Goss breaks down what’s driving these shifts and what to watch going forward.Key takeaways from this month’s survey:* Recession Reality: 54.2% of bankers report current recession conditions.* Rural Assets: Farmland and ranchland values fell below growth neutral.* Ag Equipment: Equipment sales sank below growth neutral for the 32nd straight month.* Planting Shifts: Farmers are shifting acres from corn to soybeans in response to rising fertilizer costs.* Policy Impact: 62.5% of bankers say the $12B Farm Bridge program is having little to no impact.* Interest Rates: Most bankers recommend no change in interest rates amid ongoing inflation concerns.Hosted by Andrew Hoover | Produced at Creighton University’s Menard Institute for Economic InquirySubscribe to the Rural Banker This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit erniegoss.substack.com

In this month’s episode of The Rural Banker, Dr. Ernie Goss breaks down the March 2026 Rural Mainstreet Index, and the tension between surging loan volume and collapsing confidence tells the story.The overall RMI fell to 40.9, its lowest level since October 2025, while banker confidence dropped from 45.8 to 29.5 in a single month. At the same time, loan volume jumped to 78.6. Dr. Goss explains why that borrowing surge is not optimism. It is farmers covering operating costs heading into planting season.We also get into how the Iran conflict is already affecting Midwest farm margins, why farmland values are holding despite weak income, and what bank CEOs are seeing that is not yet showing up in the broader data.Hosted by Andrew HooverProduced at Creighton University’s Heider College of Business / MCEISubscribe to The Rural Banker This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit erniegoss.substack.com

In this episode of The Rural Banker, Dr. Ernie Goss reviews the latest Rural Mainstreet Index (RMI) and the economic pressures facing agricultural producers and rural lenders.Energy markets remain a key factor this month. Recent volatility in oil prices has raised concerns about input costs heading into the spring planting season, particularly for diesel and other fuel-intensive farm operations.Dr. Goss notes that while prices have moved sharply in recent weeks, he expects energy markets to eventually settle back toward more normal levels.The conversation also explores how global uncertainty is affecting rural economies, including the potential impact on commodity markets, export demand, and financing conditions for agricultural producers.Dr. Goss also discusses the outlook for community banks, noting that liquidity remains available but that broader financial conditions bear watching.One indicator he highlights in particular is the 10-Year U.S. Treasury yield, which he suggests rural lenders monitor closely as a signal for potential changes in economic momentum.Hosted by Andrew HooverProduced at Creighton University's Menard Institute for Economic Inquiry This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit erniegoss.substack.com

February 2026 release of the Rural Mainstreet Index, a monthly survey of community bank CEOs across a ten-state region dependent on agriculture and energy.Learn more about the index methodology and past releases at Creighton University. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit erniegoss.substack.com