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Banking and Finance

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Principal CIO Scholten to retire at end of year

Principal Financial Group announced that Gary Scholten, executive vice president, chief information officer and chief digital officer, will retire effective Dec. 31, after nearly four decades with the company. Scholten joined Principal in 1980 and …
By BPC Staff | Sep 6, 2019
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FDIC: Iowa banks lend $63.2 billion to Iowa consumers YTD

Iowa-chartered banks provided $63.2 billion in loans to Iowa businesses this year through the end of the second quarter, up 5.06% from the same period in 2018, according to results released by the Federal Deposit …
By BUSINESS RECORD STAFF | Sep 6, 2019
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Bank Iowa to acquire First State Bank of Colfax

West Des Moines-based Bank Iowa Corp., a $1.4 billion family-owned community bank, announced plans to acquire First State Bank of Colfax. Currently owned by Dentel Bancorporation, First State Bank has $65 million in assets. The acquisition is …
By BPC Staff | Sep 4, 2019
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A Closer Look: Brent Vander Waal

Brent Vander Waal, currently president and chief operating officer of ITA Group, will become president and CEO of the company effective Sept. 1. He succeeds Tom Mahoney, who is retiring after 32 years with ITA …
By JOE GARDYASZ | Aug 28, 2019
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Captrust Financial Advisors buys $3.7 billion Texas wealth firm

Raleigh, N.C.-based Captrust Financial Advisors, which has an office in West Des Moines, has acquired South Texas Money Management, a $3.7 billion San Antonio-based wealth management firm, Financial Planning magazine reported. The acquisition, the firm’s largest …
By BPC Staff | Aug 27, 2019
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Nielsen recognized by AICPA for government career contribution

The American Institute of CPAs has presented Andy Nielsen of Ankeny with its 2019 Outstanding CPA in Government Career Contribution Award. Nielsen, who retired in December 2018 as Iowa’s deputy auditor, distinguished himself through his …
By BPC Staff | Aug 27, 2019
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Des Moines investment adviser Meline launches PrairieFire Wealth Planning

PrairieFire Wealth Planning, a Des Moines-based independent investment advisory team led by industry veteran Matt Meline, announced it will join Indianapolis-based Sanctuary Wealth. According to a news release from Sanctuary Wealth, PrairieFire is the seventh breakaway …
By BPC Staff | Aug 26, 2019
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NOTEBOOK: Credit Union League says GreenState purchase of bank branches will benefit members, state

Will the purchase of First American Bank’s branches by GreenState Credit Union benefit account holders and the state, or be detrimental? The leaders of the Iowa Bankers Association and the Iowa Credit Union League have …
By JOE GARDYASZ | Aug 22, 2019
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Survey: Over one-third of Iowa adults have less than $5,000 invested for retirement

Nearly half of Iowa adults feel that they are not adequately planning or financially prepared for their retirement, according to results of a statewide survey released Thursday by the Association for Financial Counseling and Planning …
By JOE GARDYASZ | Aug 16, 2019
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Dow drops 800 after bond market flashes a recession warning

CNN Business: The Dow fell 800 points today after the bond market, for the first time in over a decade, flashed a warning signal that has an eerily accurate track record for predicting recessions.

Here’s what …
By BUSINESS RECORD STAFF | Aug 14, 2019
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