Creighton University’s June Rural Mainstreet Index showed significant growth in Iowa, rising to 51.1 from the May reading of 46.5. Anything above 50 is considered a sign of growth.

James Brown, CEO of Hardin County Savings Bank in Eldora, said in a statement: “If our farmers take advantage of improved corn prices, it will be a much better year for our customers. That will certainly vary region to region depending on planting conditions and ultimate yields.”

Statewide, the survey of bank CEOs found: 

• The overall index was in growth territory for the sixth time in seven months.
• More than 1 in 4 of the CEOs reported rising loan defaults due to farmers’ financial stress.
• Nearly half of the bankers reported farmers have sold land or left farming.
• Almost seven of 10 bank CEOs support continuing or raising tariffs.

The overall index, including bank CEOs in rural areas of a 10-state region, climbed to 53.2 from 48.5 in May. 

“Higher agriculture commodity prices and rebuilding from recent floods boosted the Rural Mainstreet Index for the month,” said Creighton economist Ernie Goss. “Furthermore, despite the negatives from the trade war, 69.4 percent of bankers support either raising, or continuing current tariffs.”