OMAHA, Neb. (AP) - Rural bankers including some in North Dakota who responded in a February survey reported strong economic conditions, although there was a slight drop in the outlook from January.

The economic index figure of 60 was compiled from the survey of bank presidents and chief executive officers in a nine-state region - down slightly from the 61.2 reported in January.

Both figures were "up significantly" from the 48.1 reported in February last year, said Creighton University economist Ernie Goss, who released the survey results Thursday.

Goss and Bill McQuillan, CEO of City National Bank in Greeley, Neb., created the monthly economic survey of rural bankers in Colorado, Illinois, Iowa, Kansas, Missouri, Nebraska, North Dakota, South Dakota and Wyoming.

The Mainstreet economic index ranges between 0 and 100. An index number of 50 or higher indicates a growing economy over the next three to six months.

Strong farm income and expanding ethanol production were responsible for much of that growth, Goss said in the survey report. High grain prices and ethanol production also were cited for the optimism apparent in January's report.

Except for Kansas bankers, survey respondents reported job growth, reflected in an index of 56.4, which was down from 61.2 in January.

"Kansas has been lagging behind for quite some time, and that probably has something to do with ethanol and corn not being quite as important there," Goss said.

"We're just surveying the bankers, so it's hard to get a handle on what's going on there," he said.

Elsewhere, he said, "bankers in nonurban areas, especially those in Wyoming, reported that labor shortages were restraining growth in their local areas."

"At this time, the rate of job creation in the rural and nonurban areas of the region is fully twice that of the urban and metropolitan areas.

"Absent a large and unanticipated rate hike by the Federal Reserve, I expect job growth on Mainstreet to continue at a very healthy pace over the next three to six months," he said.

The farmland price index soared to 75, its highest since the survey began in 2005 and higher than the 70.2 in January and the 72 in February 2006.

"Land recently sold in Cerro Gordo County for over $5,400 per acre. This is a record high for farmland," said Marti Rodamaker, CEO of First Citizens National Bank in Mason City, Iowa.

Despite the high grain prices, the bankers reported only middling increases in the purchase of agricultural equipment. That index rose to 53.4 from 52.3 in January and 50 in December.

"The lack of a more positive index may stem from the negative impact that higher grain prices are having on livestock producers," Goss said.