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Banking and Finance

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Federal appeals court upholds ‘best interest’ regulation for investment brokers

A new investment broker advice standard will move forward Tuesday, following a ruling Friday by a federal appeals court that upholds Regulation Best Interest, Investment News reported. An investment planning group and three state attorneys general had …

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Iowa Credit Union Foundation donates $50,000 to UNI for teacher financial literacy training

The Iowa Credit Union Foundation has pledged $50,000 to the University of Northern Iowa in support of continuing education programming for educators to prepare them to teach financial literacy curriculum in Iowa high schools. The support aligns …

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NOTEBOOK: Behavioral economics helps explain sharp uptick in deposits, drop in bank earnings

As I was writing an article last week reporting on the latest FDIC quarterly banking statistics, I had to wonder what types of factors weighed into banks experiencing such a sharp drop in earnings nationally. Net income …

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A Closer Look: Kris Williams

Kristina “Kris” Williams was named president and chief executive officer of the Federal Home Loan Bank of Des Moines effective Jan. 20. Since 2011, she had been the chief operating officer at the Federal Home …

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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 …