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Banking and Finance

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Loan growth fuels profitability of Iowa banks

Iowa banks are outpacing their national counterparts in loan growth, according to reports today from the Iowa Bankers Association and the Federal Deposit Insurance Corp.


In Iowa, banks issued more than $50.8 billion in loans…
By BUSINESS RECORD STAFF | Sep 2, 2015
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Principal completes acquisition of AXA’s Hong Kong pension business

The Principal Financial Group Inc. today announced it has completed the acquisition of AXA’s pension business in Hong Kong. Principal in November 2014 said it had a definitive agreement to acquire AXA’s Mandatory Provident Fund …
By BPC Staff | Sep 1, 2015
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Event Sept. 17: Financial author to speak at Simpson College

Financial analyst James Grant, the publisher of Grant’s Interest Rate Observer, will discuss his new book, “The Forgotten Depression,” on Sept. 17 at Simpson College in Indianola. In his book, subtitled “1921: The Crash that …
By BPC Staff | Sep 1, 2015
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Iowa affordable housing conference scheduled for September

The Iowa Finance Authority will host housing professionals from throughout the state Sept. 9-10 at the Coralville Marriott for the HousingIowa Conference, which will showcase the benefits affordable housing has on communities. The event is …
By BPC Staff | Aug 26, 2015
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Report: 17% of student loans ‘severely delinquent’

Nearly 7 million Americans have gone at least a year without making a payment on their federal student loans, a high level of default that suggests a widening swath of households are unable or unwilling…
By BUSINESS RECORD STAFF | Aug 25, 2015
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Finance specialist named to InvestmentNews 40 Under 40 class

Kellie Masters, 32, operations specialist for Wealth Advisors of Iowa, an affiliate of McGowen, Hurst, Clark & Smith, was named to the the 2015 40 Under 40 Class of the financial publication InvestmentNews. Winners were…
By BPC Staff | Aug 20, 2015
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Rate hike a ‘live’ option

The minutes of last month’s meeting of Federal Reserve officials suggest that interest rates could go up in September after being held between zero and 0.25 percent since December 2008, MarketWatch reported.


The minutes of the…
By BUSINESS RECORD STAFF | Aug 19, 2015
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SBA backs $15.4M in loans to Iowa businesses

The U.S. Small Business Administration backed $15.4 million in loans for Iowa businesses in July, including $4.6 million in Central Iowa for 18 businesses.


The Central Iowa businesses promised to create 105 jobs and keep…
By BPC Staff | Aug 14, 2015
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Iowa Student Loan expands college savings giveway program

Iowa Student Loan has expanded its giveway program for chances to win a $1,500 College Savings Iowa account. The program, now in its second year, will give away 30 $1,500 College Savings Iowa accounts, an …
By BPC Staff | Aug 13, 2015
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Heid to retire from Wells Fargo Home Mortgage

Wells Fargo & Co.’s mortgage chief, Mike Heid, is retiring after 28 years with the San Francisco-based bank, the company announced Wednesday. Franklin Codel, 50, executive vice president and head of mortgage production, will succeed…
By BUSINESS RECORD STAFF | Aug 13, 2015
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