January 8, 2021

Deposit growth continues to outpace loan demand, leaving financial institutions across the country flush with liquidity. Many factors have resulted in these unprecedented conditions, from near-zero interest rates to an influx of deposits from Paycheck Protection Program (PPP) loans and CARES Act stimulus checks. This exacerbates the growth of deposit balances that were on the rise prior to the pandemic.

The 1980s were a much different time than today. Many of us remember or are too young to remember an age where the typical computer only had 64 kilobytes of memory or where cell phones weighed as much as 20 pounds; no one anticipated we would ever call them smart any time soon.

We are eight months into this pandemic, and our medical community has learned a lot about the COVID-19 virus. Still, I am concerned that many people who test positive believe that all they need to do is go home, isolate, and if things get worse or they have trouble breathing, go to the hospital.