State of the Economy

Oak Bank had its annual Shareholders' Meeting last night.  A highlight of the meeting was a talk by the economist for Legacy Private Trust, a firm we have partnered with for trust and related services.  Paul Kasriel who has an impressive background with the Federal Reserve Bank of Chicago and Northern Trust Co of Chicago as an economist feels we will see significant growth in our economy over the balance of this year.  In addition to his outlook, it also appears the U. S. Government is backing off some of its stringent mortgage lending rules passed down after the home loan bubble burst.  Good news for the housing industry and the economy.