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Banking and Finance

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El Salvador becomes first country to adopt Bitcoin as national currency

Wall Street Journal:The tiny and impoverished Central American nation became the first country in the world to adopt bitcoin as legal tender on Tuesday, allowing Salvadorans to use the cryptocurrency to buy a cup of …
By BPC Staff | Sep 7, 2021
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SBA backs 11 Central Iowa business loans for $5.7M in August

Eleven Central Iowa businesses received loans in August that were backed by the U.S. Small Business Administration. Those loans totaled $5,691,000.

The entities receiving those loans expect to create 57 new jobs and retain 19 …
By BUSINESS RECORD STAFF | Sep 7, 2021
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Iowa-based Private Wealth launcheslocal services for ultra-wealthy clients

A group of seasoned wealth advisory professionals has launched Private Wealth Asset Management LLC, a sophisticated wealth management and financial services firm designed to serve ultra-high-wealth individuals and families in Iowa and Nebraska.

The firm, …
By BPC Staff | Sep 3, 2021
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Warning of excessive risk, FDIC orders Iowa’s Luana Savings Bank to drop practices

Des Moines Register: Luana Savings Bank — Iowa’s fifth-largest agricultural lender — is facing financial peril and is accused of committing a massive fraud, according to regulatory and court records. The interrelated allegations against the northeast …
By BPC Staff | Sep 1, 2021
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NOTEBOOK: Chase’s first Iowa branch part of bank’s new 48-state retail footprint

Many people, myself included, likely assume that at least a few of the major national banks must have branches in all 50 states, or at least in all of the contiguous 48 states. Turns out …
By JOE GARDYASZ | Sep 1, 2021
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D.M.’s Black applicants more likely to be denied home loans than their white peers

Des Moines Register: In the Des Moines metro area, Black applicants are 2.6 times more likely to be denied a conventional home loan than similarly qualified white applicants, according to an analysis of 2019 data released …
By BPC Staff | Aug 30, 2021
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Chase officially opens first Iowa branch in Des Moines

Chase announced it has opened its first retail branch in Iowa, with the opening of its Des Moines branch at 3627 Merle Hay Road. Chase, which serves more than 60 million U.S. households, is the …
By JOE GARDYASZ | Aug 25, 2021
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Bank Iowa survey: Economic development most important community issue

Economic development ranks as the single most important issue for a majority of Iowa residents polled in communities across the state, according to an online survey of Bank Iowa customers conducted recently by the bank.…
By JOE GARDYASZ | Aug 25, 2021
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CJM Financial to merge with FirstLine Funding Group

FirstLine Funding Group, based in Madison, S.D., announced it has signed a stock purchase agreement to acquire Ankeny-based CJM Financial Inc., a receivable financing company for the trucking industry. With the purchase, CJM Financial will change its …
By BPC Staff | Aug 20, 2021
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Principal announces executive promotions in corporate finance, insurance roles

Principal Financial Group today announced senior management promotions within its corporate finance and U.S. Insurance Solutions businesses. Joel Pitz is named senior vice president and controller for Principal, effective Nov. 15. Pitz will have leadership responsibilities for …
By BPC Staff | Aug 18, 2021