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Moody's Survey: Business Confidence 'Stable'

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WEST CHESTER, Pa. (8/13/13)--U.S. business confidence has been consistently stable since early in 2013, according to Moody's Analytics Survey of Business Confidence for the period ending Aug. 9.
 
Businesses are more positive about the economy than the weak real gross domestic product growth would suggest, Moody's weekly report said (Moody's Economy.com Aug. 12).   
 
Pricing, sales and investment in equipment and software are robust, Moody's added.
 
Also, because expectations about future business conditions are upbeat, the survey suggests stronger economic growth later this year, Moody's said.
 
Credit is as available as it was before the recession, and the drawing down of inventories seen in the spring seems to be diminishing, the economic research firm said.
 
Negatives in the survey are the ongoing weak hiring and low demand for office space.

Nicolet National Bank Assumes Deposits Of Bank Of Wausau

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WASHINGTON  (8/13/13)--One bank closed Friday, which brings this year's total of failed U.S banks to 18, the Federal Deposit Insurance Corp. announced Friday.
 
Bank of Wausau (Wis.) was closed and assumed by Nicolet National Bank, Green Bay, Wis. The cost to the Deposit Insurance Fund will be $13.5 million, FDIC estimated.  
 
As of June 30, Bank of Wausau had roughly $43.6 million in total assets and $40.7 million in total deposits.   
 
So far in 2013, the National Credit Union Administration has closed eight credit unions.