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Banking and Finance

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FDIC: Iowa banks’ net income down 8.3% in first quarter

First-quarter net income for the Iowa banking industry was $243 million on March 31 — down 8.3% from the previous year’s first quarter — as bank earnings nationally slid to their lowest level in a …

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Community Choice Credit Union receives national marketing awards

Community Choice Credit Union was recognized recently with several national marketing awards during the annual Diamond Awards celebration by the Credit Union National Association. Community Choice received three awards, in the categories of Complete Campaign, …

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FBL Financial Group hires Whitehead as chief investment officer

FBL Financial Group Inc. announced Tuesday that Jeff Whitehead will join the company as chief investment officer on June 15. In this role, Whitehead will be a member of FBL’s management team and have overall responsibility for …

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Northwest Bank plans to open Ames branch

Northwest Bank announced plans to open a new branch location in Ames, which would be the 20th branch location for the bank. The Spencer-based bank has hired Doug Ragaller, who has 25 years of community banking experience, …

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Alliant Credit Union shuts down two Eastern Iowa branches

Dubuque-based Alliant Credit Union announced it will not reopen two of its eastern Iowa branches that have been closed due to COVID-19 precautions since mid-March, the Corridor Business Journal reported. Alliant’s Cedar Rapids branch in the Alliant …

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Wells Fargo leader, community supporter Mary Coffin to retire

Wells Fargo senior executive and active community supporter Mary Coffin has announced her retirement, effective July 1. The company said she has been “a steady voice for the customer across Wells Fargo” in her 21 …

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Zaugg named managing partner of Ernst & Young’s D.M. office

Professional services firm Ernst & Young LLP announced that Kevin Zaugg (top photo) has been named managing partner of its Des Moines office, effective April 1. Zaugg will succeed Dave Christens (bottom photo) with Christens’ …

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Longtime credit union payments leader Hanisch to retire

CO-OP Financial Services announced the retirement of Jim Hanisch, president of CO-OP Network, where he has spent the last 19 years of his career. Hanisch was named to his current position in April 2018, and is …

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Iowa Credit Union Foundation awards $23,000 in scholarships

The Iowa Credit Union Foundation recently awarded scholarships to eight high school students and four post-high school students. The annual Warren A. Morrow Memorial Scholarship program, which this year awarded a total of $23,000, is in memory …

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Embedding free financial counseling into the community

At a time when many people in Central Iowa are facing financial hardship due to the COVID-19 pandemic, Polk County has launched a new initiative aimed at significantly increasing the availability of free financial counseling …