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Construction and development loans push lending at state banks

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Construction and land development loans led an 8.4 percent increase in lending in the third quarter over the same time last year, according to the Iowa Bankers Association. Iowa banks provided more than $51.5 billion in loans in the third quarter, compared with $47.5 million in the year-ago period. Demand for construction and land development loans saw the biggest increase, up 16.8 percent from the prior year, according to the IBA. However, demand was up for real estate, farm, commercial, consumer and all other lending categories.