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Banking and Finance

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Wells Fargo net income up 59% as bank releases $1.65B in credit loss reserves

Wells Fargo today posted a jump in profit in the third quarter, boosted by a release of its credit loss reserves as the recovery from the coronavirus pandemic accelerated in 2021, CNBC reported. Third-quarter net income rose …

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NOTEBOOK – ONE GOOD READ: Index funds revolutionized finance — but at what cost?

Index funds have become such a ubiquitous tool for investors that it’s easy to forget that they’re a relative newcomer on the financial scene. Here’s a good summary — a good read in itself — …

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A Closer Look: Shane Zimmerman

From the second-floor conference room window of Two Rivers Bank & Trust’s Ingersoll Avenue branch, Shane Zimmerman can see some nearby competition, among them a branch of his former employer, Wells Fargo, and a newcomer …

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Financial equity efforts increase among Iowa credit unions, banks

Kenia Calderón Cerón’s first experience in borrowing from a financial institution took place while she was still pursuing U.S. citizenship. In fact, the Des Moines resident used the proceeds from the loan to pay the …

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VizyPay announces hires for two new directorial positions

Waukee-based VizyPay recently announced the addition of two employees, who will both be filling a new directorial role in the company. Mana Thongvanh will serve as director of operations, and Jason Bahnsen as general counsel …

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West Bank named to Piper Sandler Sm-All Stars Class of 2021

West Bancorporation Inc. has been named to the Piper Sandler Sm-All Stars Class of 2021. The West Des Moines-based parent of West Bank was one of 35 small-cap banks in the country named to the …

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Principal Financial launches multiple-employer 401(k) plan for NAM

Principal Financial Group and HUB International LLC have partnered with the National Association of Manufacturers to introduce a multiple-employer 401(k) plan that will be available to NAM’s more than 14,000 member companies and associations. The Manufacturers …

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Funk receives Leach Leadership Award from Iowa Bankers Association

The Iowa Bankers Association recently honored Charlie Funk, president and CEO of MidWestOne Bank in Iowa City, with the 2021 James A. Leach Leadership Award, the Corridor Business Journal reported. Funk received the award last week during …

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West Bank’s Nelson to serve on American Bankers Association board

West Bank Chairman and CEO Dave Nelson will join the board of directors of the American Bankers Association for a 3-year term that begins in October, West Bancorporation Inc. announced Monday. The American Bankers Association …

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First Interstate Bank acquiring Great Western Bank in all-stock transaction

Aberdeen News: First Interstate BancSystems Inc. has entered an agreement with Great Western Bank that will combine the two companies in an all-stock transaction. Great Western Bank will merge into First Interstate BancSystems, according to a …