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Banking and Finance

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Study: IPERS among top-performing funds in private equity assets

The Iowa Public Employees Retirement System was among the five top-performing U.S. public pension funds in its private equity assets, according to a study released this week by the American Investment Council, an advocacy group …
By BPC Staff | Jul 14, 2022
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Vital Financial Services rebrands as LendXP, makes key hire

Vital Financial Services, a lender service provider, recently rebranded as LendXP. The new name reflects the company’s commitment to providing community banks and credit unions with an “exponentially” better Small Business Administration loan servicing experience, the company …
By BPC Staff | Jul 13, 2022
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Chicago Fed president and CEO to speak at Drake on economy

Drake University and the Greater Des Moines Partnership will host Charles Evans, president and chief executive officer of the Federal Reserve Bank of Chicago, for an economic update on Aug. 10 from 10 to 11 …
By BUSINESS RECORD STAFF | Jul 12, 2022
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Twin Cedars Bancorp completes acquisition of State Bank of Bussey

Twin Cedars Bancorp, formerly Palm Grove Bancorp, announced it has completed its acquisition of the State Bank of Bussey, which was previously announced in January. The transaction was approved by the Iowa Division of Banking in May. …
By BPC Staff | Jul 8, 2022
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Wells Fargo lays off another 107 workers in DM metro as mortgage market cools

Des Moines Register: Wells Fargo & Co. announced another round of layoffs in the Des Moines metro last week, doubling the number of workers at the banking giant who have lost jobs in central Iowa this …
By BPC Staff | Jul 6, 2022
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FDIC orders Luana Savings Bank to strengthen oversight, revise policies

Luana Savings Bank — which advertises itself as one of the fastest-growing and most efficient banks in the state — was recently ordered by federal and state banking regulators to take actions to end what…
By JOE GARDYASZ | Jul 1, 2022
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SBA signs alliance with ‘Divine Nine’ historically Black fraternities and sororities

The head of the U.S. Small Business Administration this week forged an alliance with the National Pan-Hellenic Council — a group of historically Black college fraternities and sororities known as the Divine Nine. The goal of the …
By BUSINESS RECORD STAFF | Jun 17, 2022
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Principal hires Lamarque as general counsel

Principal Financial Group announced that Natalie Lamarque will join the company as its new general counsel, effective Aug. 1. Lamarque will have oversight over the law department, including government relations and compliance. She will also …
By BPC Staff | Jun 16, 2022
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Bank of America commits $40M to CDFIs to fund primary health care centers

To increase access to health care services in medically underserved communities, Bank of America announced it has committed $40 million in low-cost, long-term capital to finance the development and expansion of community health care centers and other …
By BPC Staff | Jun 15, 2022
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Breeze partners with Principal on individual disability platform

Breeze, an Omaha-based insurtech serving the disability insurance market, announced it has added an individual disability insurance product from Principal Financial Group to its portfolio. The new integration, built onto Breeze’s proprietary application programming interface, …
By BPC Staff | Jun 10, 2022