ING Groep NV reached an agreement to sell three of its U.S. independent retail broker-dealer units, which make up 75 percent of ING Advisors Network, to Lightyear Capital LLC, the company announced today. The move does not effect ING’s operations in Des Moines as the company will retain ING Financial Partners Inc. in Des Moines. See the full release.

Principal Financial Group Inc. reported third-quarter operating earnings of $238.7 million, or 74 cents per share, down from $251.2 million, or 96 cents per share, a year ago. Net income available to common stockholders for the third quarter of $184.7 million, or 57 cents per share, was up from $90.1 million, or 35 cents per share a year-ago. See the full report.

Iowa Telecommunications Services Inc. completed its acquisition of WH Comm for $1.1 million, the company announced today. WH Comm was a division of Wright-Hennepin Cooperative Electric Association based in Rockford, Minn. This is the fourth acquisition Iowa Telecom has completed adjacent to the Minneapolis-St. Paul metropolitan area over the past 15 months, following Bishop Communications Corp., Sherburne Tele Systems Inc. and the purchase of New Ulm Telecom Inc.’s minority interests in SHAL and En-Te.

U.S. Bancorp announced today that its banking subsidiaries, U.S. Bank National Association and U.S. Bank National Association ND will opt-out of the six-month extension of the Transaction Account Guarantee Program. The program, which is in effect through Dec. 31, provides full insurance coverage from the Federal Deposit Insurance Corp. on noninterest-bearing transactional accounts with balances greater than $250,000. According to the release the decision to opt out is a reflection of the company’s strong capital and liquidity position.