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Banking and Finance

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FBL earnings dip in third quarter

FBL Financial Group Inc. on Thursday reported net income for the third quarter of $25.1 million, or $1.01 per share, compared with $31 million, or $1.24 per share, for the third quarter of 2018. Earnings …

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West Bank reports record quarterly earnings of $7.5 million

West Bancorporation Inc., the parent company of West Bank, today reported third-quarter net income of $7.5 million, or 46 cents per share, topping year-ago net income of $7.1 million and marking a new earnings record for the …

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BerganKDV adds Erb’s Technology Solutions to its portfolio

BerganKDV recently announced its merger with Cedar Rapids-based Erb’s Technology Solutions, marking its second deal in two weeks, the Corridor Business Journal reports. ETS will take the BerganKDV name and consolidate its operations in the …

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Iowa credit unions contributed $1.57 billion to Iowa’s economy, report finds

Credit unions located in Iowa contributed $1.57 billion to the state’s economy in 2018, a report authored by Iowa State University economist Dave Swenson shows. The report, “The Economic Contribution of Iowa’s Credit Unions,” found …

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Fortress Bank begins lending in Greater Des Moines

Fortress Bank, a Peoria, Ill.-based commercial bank, has launched a loan production office in Greater Des Moines, with plans to begin opening branch banking offices within the next two years. Scott Jarvis, previously market president …

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Wells Fargo net income dips in third quarter

Wells Fargo & Co. today reported net income of $4.6 billion, or 92 cents per common share, for the third quarter, compared with $6 billion, or $1.13 per share, for the third quarter of 2018. The earnings …

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Wells Fargo to beef up mortgage division in Des Moines to cope with higher volumes

Reuters: Wells Fargo & Co. is boosting its teams that process mortgage loans to prepare for higher mortgage volumes, changing course after it laid off about 1,000 employees in the division in 2018, according to a …

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Naig to lead Des Moines, Madison offices of BKD

Jeffrey Naig, pictured, has been appointed as managing partner of BKD CPAs & Advisors’ offices in Des Moines and Madison, Wis., effective June 1, 2020. Naig is currently the industry leader of BKD’s telecommunications practice. …

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Wells Fargo opens new downtown bank branch

Wells Fargo today opened its newly relocated downtown bank branch in the complex of four buildings it owns on Walnut Street between Eighth and Ninth streets. The location has a full-service lobby, ATMs and safe …

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Lincoln Savings Bank plans multimillion-dollar expansion in Waterloo

Lincoln Savings Bank on Friday announced it has purchased the top three floors of a historic building on the Cedar Valley TechWorks campus in downtown Waterloo, with plans for a  multimillion-dollar renovation of the vacant …