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Banking and Finance

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MidWestOne reports better than expected Q2 earnings

Corridor Business Journal: Iowa City-based MidWestOne Financial Group Inc. reported an improved second-quarter profit of $10.7 million Thursday and earnings of 72 cents per share. Earnings per share rose 7.5% from 67 cents in the second …
By BPC Staff | Jul 26, 2019
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Principal operating earnings up 9%; 55-cent dividend declared

Principal Financial Group on Thursday reported second-quarter net income of $386.3 million, compared with $456.6 million for second quarter 2018. Net income per diluted share of $1.37 for second quarter 2019 compared with $1.58 in the prior-year …
By BPC Staff | Jul 26, 2019
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FBL Financial names new chief operating officer

West Des Moines-based FBL Financial Group Inc. announced that Kelli Eddy will join the company as chief operating officer – Life Companies in mid-August. She will succeed Ray Wasilewski, who plans to retire at the end of …
By BPC Staff | Jul 18, 2019
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Wells Fargo posts higher profit on cost controls, rise in loans

Reuters: Wells Fargo & Co. reported higher quarterly profit today despite flat revenue as the bank benefited from aggressive cost-cutting. Revenue declined at Wells’ community bank and wholesale bank as net interest income was squeezed by …
By BPC Staff | Jul 16, 2019
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Art Wittmack to lead taxpayers’ group on interim basis

Art Wittmack, retired president and CEO of Neumann Brothers Inc., has been named interim president of the Taxpayers Association of Central Iowa. Wittmack, whose appointment was effective July 1, replaces Gretchen Tegeler, who accepted a position with …
By BPC Staff | Jul 11, 2019
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Vaughan joins West Bank, West Bancorporation boards

West Bank announced that Therese (Terri) Vaughan has joined the boards of West Bancorporation Inc. and West Bank, which are based in West Des Moines. Vaughan, currently an executive in residence at Drake University, was …
By BPC Staff | Jul 3, 2019
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Principal hires new chief marketing officer

Principal Financial Group announced that Beth Wood has joined the company as senior vice president and chief marketing officer, effective July 22. As CMO, Wood assumes overall responsibility of Principal’s Global Center for Brand and Insights which …
By BPC Staff | Jul 2, 2019
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Principal closes on $1.2 billion acquisition of Wells Fargo retirement businesses

Principal Financial Group announced today it has closed on its previously announced acquisition of Wells Fargo & Co.’s Institutional Retirement & Trust business. Des Moines-based Principal will now begin the integration of Wells Fargo’s defined contribution, defined …
By BPC Staff | Jul 1, 2019
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Jeff Plagge appointed as next banking superintendent

Gov. Kim Reynolds announced today that she has appointed Jeff Plagge, president and CEO of Northwest Financial Corp., to serve as superintendent of the Iowa Division of Banking. Plagge will begin the new role on Sept.…
By BUSINESS RECORD STAFF | Jul 1, 2019
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Credit union plans to acquire 7 First American Bank branches

GreenState Credit Union, the rebranded University of Iowa Community Credit Union, plans to acquire seven branches of First American Bank, the institutions announced Tuesday. 

The acquisition includes two Des Moines branches of First American as …
By BPC Staff | Jun 26, 2019
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