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Banking and Finance

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Dupaco announces full-service Waukee ‘learning lab’ branch to open late 2022

Dupaco Community Credit Union on Friday outlined its plans for a second full-service “learning lab” branch to be built in Greater Des Moines, at 1090 E. Hickman Road in Waukee. In August the Dubuque-based credit union …

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Midwest Growth Partners makes $5M investment in Minnesota ag equipment maker

Midwest Growth Partners, a West Des Moines-based private equity fund, announced an investment in Minnesota-based Fast Ag Solutions, a manufacturer of liquid fertilizer application and spraying equipment. Midwest Growth Partners’ investment, which according to a regulatory …

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FBL Financial reports lower third-quarter earnings

FBL Financial Group Inc. on Thursday reported net income attributable to FBL Financial Group for the third quarter of 2020 of $21 million, or 85 cents per diluted common share, compared with net income of $25.1 million, …

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FDIC report: Iowa 5th-lowest in nation for unbanked households

A record 95% of U.S. households had a bank or credit union account in 2019, according to a new biennial survey and report released Monday by the Federal Deposit Insurance Corp. The report, “How America Banks: …

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West Bank plans to build Minnesota office to serve St. Cloud metro

West Bancorporation Inc. said it plans to build a permanent branch office on land it has purchased in Sartell, Minn., to serve the St. Cloud metro market. The West Des Moines-based bank holding company announced …

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GreenState pledges $125,000 to African-American Credit Union Coalition campaign

GreenState Credit Union, Iowa’s largest credit union, announced a $25,000 per year pledge for five years totaling $125,000 in support of the “I’ve Got Five on It” campaign, a financial inclusion campaign of the African-American Credit …

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HNI Corp. reports ‘solid’ third quarter

HNI Corp. on Monday announced sales for the third quarter ended Sept. 26 of $507.1 million and net income of $30.7 million. GAAP net income for the quarter was 71 cents per diluted share, down from $1.07 …

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American Equity rejects Athene/MassMutual takeover bid, enters partnership with Brookfield

American Equity Investment Life Holding Co. on Sunday rejected a $3 billion takeover offer by Athene Holding Ltd. and MassMutual, and instead announced it reached a partnership with Brookfield Asset Management Inc., the Wall Street Journal …

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Principal launches needs assessment tool for small businesses

Principal Financial Group has launched a new digital platform designed to help business owners and leaders uncover planning needs to help protect the financial well-being of their business and prepare for the future. The Principal Business …

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Iowa credit unions provided millions in loans, relief during pandemic

The Iowa Credit Union League has released new data quantifying the economic impact that Iowa credit unions have generated during the COVID-19 pandemic. Since March, Iowa credit unions have provided millions of dollars in loans, …