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Banking and Finance

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U.S. Bank earnings up through third quarter

Minneapolis-based U.S. Bancorp, parent of U.S. Bank, said today profits grew 1.2 percent in the year that ended Sept. 30 to $1.49 billion from $1.47 billion. The increase in net income year-over-year was due to …

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Credit unions added $1.1 billion to the state economy in 2014

Every $1 spent by Iowa credit unions added 77 cents elsewhere in the state economy, and every job at an Iowa credit union supports an additional 1.28 jobs in the rest of the economy, according …

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CRE loans near pre-recession peak

Commercial real estate loans are on the verge of surpassing their pre-recession all-time peak of $1.731 trillion, InvestorPlace.com reported. Based on data from the Federal Reserve, loan value most recently measured $1.723 trillion, within 0.5 percent of …

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Loan delinquencies continue to decline

Delinquencies on commercial mortgage-backed securities dropped 6 basis points from August to September to nearly 4.5 percent for all property types, according Fitch Ratings, National Real Estate Investor reported. Year-over-year, the CMBS delinquency rate for all properties …

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Wells Fargo reports third-quarter earnings of $5.8 billion

Wells Fargo & Co. reported net income of $5.8 billion, or $1.05 per share, for the third quarter, compared with $5.7 billion, or $1.02 per share, for the third quarter of 2014. Total average loans …

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Gen X net worth is not up to snuff for retirement

Generation X is likely to be worse off in retirement than the baby-boomer generation. Generation X could be the first post-war generation to be more ill-prepared for retirement than the previous one, according to a …

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U.S. Bank issued nearly $800M in small business loans last fiscal year

U.S. Bank issued $776 million in U.S. Small Business Administration-backed loans through the federal fiscal year that ended Sept. 30, according to a release. The bank was the third-largest lender by volume during the period, …

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Bank of America prepares for a rainy day

Bank of America Corp.’s shopping list for the next recession has these items: commodities, bonds that protect against inflation, real estate and the equities of small Chinese companies, Bloomberg reported.


The Charlotte, N.C.-based bank expects a…
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GE is selling its commercial lending and leasing business to Wells Fargo

As part of its plan to focus on manufacturing, General Electric Co. said it will sell commercial lending and leasing businesses worth more than $30 billion to Wells Fargo & Co., Reuters reported. Overall, General Electric is …

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Princeton professor wins Nobel Prize in Economics

A 69-year-old Princeton University professor was awarded the 2015 Nobel Memorial Prize in Economic Science for his analysis of consumption, poverty and welfare, Bloomberg Business reported.


The Royal Swedish Academy of Sciences announced Monday that Angus…