script Spring Newsletter 2024 - Blog | NebraskaLand Bank
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NLB Blog

NLB Newsletter

Spring 2024

Mike Jacobson
Message from Mike
Mike Jacobson, President & CEO

As the First Quarter comes to an end, many were hoping that the Federal Reserve would be lowering the Federal Funds (Fed Funds) Rate by now.  However, the Economy continues to turn out higher economic growth and job growth.  Meanwhile, credit card balances are rising to all-time highs as consumer spending continues to grow.  How long this trend continues remains to be seen, but most economists are predicting that the Economy will slow as we move through year, and the Fed will likely reduce the Fed Funds Rate as much as 75 basis points (3/4 of one percent) before yearend 2024. 

As I have mentioned in the past, it is normal for the Economy to go through ups and downs.  When the Economy is growing, demand for goods and services grow which causes employment to grow.  Once the Economy grows past the point where labor and supplies begin to be rationed, this lowers the unemployment rate, raises prices of limited goods and services, and pushes inflation higher.  To slow the growth, the Federal Reserve raises the Fed Funds Rate to push interest rates higher.  This causes consumption of goods and services to slow because costs get too high.  The result is lower demand which causes companies to slow their production and lay off excess employees causing unemployment rates to rise. 

At this point in time, we are seeing the beginning of a slow down.   There is a definite slowdown in home buying due primarily to the higher cost of home construction, coupled with higher interest rates and insurance costs.  Additionally, the growth in consumer credit card debt suggests that consumers are outspending their disposable income.  Generally, recessions begin when consumer spending slows.  Consumer spending is one of the strongest components of the economic indicators and is very predictive of economic slowdowns. 

We hear much about a “soft” landing to the Economy.  A soft landing occurs when the slowdown is gradual, and it does not require the Fed to aggressively act to offset the impact of the slowdown.  I remain hopeful that the Economy is currently heading in that direction. 

Once the Fed begins to reduce rates, you can expect that short-term rates will fall accordingly, and long-term rates will return to a normal upward sloping yield curve. 

Given the outlook, now would be a good time to consider laddering CD maturities to take advantage of the likely changes in interest rates. 

We will continue to keep you posted as we move through the year.



JD Race, Connor Smith, Rancher.

Agriculture serves as a fundamental cornerstone of our communities. At NebraskaLand Bank our Ag Lenders understand the unique challenges and opportunities that farmers, ranchers, and agribusiness owners face daily. Read more...


How our NebraskaLand Bank employees are making a difference with their commitment to community.

At NebraskaLand Bank, we take great pride in our commitment to the community. We are incredibly proud to have an exceptional team of employees who continuously surpass expectations in all aspects of their work, including community service and volunteerism. Read more...

Amy Wolfskill 


My Fair Share:  


Each year, employees donate a portion of their paycheck to organizations they nominated through the My Fair Share program. Employees have donated approximately $216,500 since the program’s inception in 2004. Read more...

Community Impact Report

Check out the full report...

Click to view the full Community Impact Report



Shred Day is Back!

Shred Day is Back!

We are hosting our annual community Shred Day!


North Platte:  May 3, 2024.

Main Location: 1400 S Dewey Street, North Platte, NE 69101


Kearney: May 8, 2024

4615 2nd Ave, Kearney, NE 68847


Bring your sensitive documents to shred. Each individual will be limited to three standard sized boxes of documents to shred. Items can include scam mailings, personal documents and bank statements.  Please make sure all metal is removed from any items.  We look forward to seeing you!

Mastering Budgeting: Your Pathway to Homeownership

Embarking on the journey towards buying your first home is an exciting venture, and smart budgeting is your best companion along the way. Tracking your spending and crafting a thoughtful budget can empower you to use credit wisely, save diligently for a down payment, and ensure you're financially prepared for monthly mortgage payments.


Download our Budget Template

2024 Homebuyer Grants

Dog Playing Fetch

Exciting news for prospective homeowners in Nebraska! The Federal Home Loan Bank (FHLB) has reopened its Homeownership Set-Aside Program (HSP)

Learn more...

Contact a mortgage expert:

North Platte: (308)534-2100

Kearney: (308)698-2280


The Mobile Mastery Module:

online education center: learn how to use your mobile banking app in bite-sized videos

Check it out...

Local People. Local Decisions. Local Ownership.