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Banking and Finance

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LMC Financial Services rebrands as LMC Financial Advisors

LMC Financial Services announced that the company has changed its name to LMC Financial Advisors. The rebranding comes after its parent company, West Des Moines-based LMC Insurance and Risk Management, acquired ISG Financial Advisors in Madison, Wis., …
By BPC Staff | Mar 26, 2019
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Alternative lenders pose threat to bank HELOC market: Survey

Record levels of credit card debt, rising interest rates and a proliferation of alternative lenders are making personal loans the fastest-growing category of consumer debt products.

According to the J.D. Power 2019 Personal Loan Satisfaction Study released …
By BUSINESS RECORD STAFF | Mar 25, 2019
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West Bancorporation continues reign among top community banks

Seven years and counting for West Bancorporation’s ranking among the top 10 percent of publicly traded community banks. The West Des Moines parent of West Bank ranks No. 19 on the Raymond James Community Bankers …
By BPC Staff | Mar 22, 2019
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Bankers Trust, Veridian are branching out

Bankers Trust Co. has opened a new 7,000-square-foot branch office at 1925 N. Ankeny Blvd., Ankeny. The new building has more than three times as much space as the bank’s former Ankeny location. In addition …
By BPC Staff | Mar 20, 2019
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NOTEBOOK – One Good Read: Regulator slams Wells Fargo after CEO testifies to Congress

Wells Fargo received a rare — and highly public — rebuke from a top regulator minutes after CEO Tim Sloan finished testifying before a “combative” House panel on Capitol Hill, reports the Wall Street Journal. “We continue …
By KATE HAYDEN | Mar 13, 2019
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Axne accuses Wells Fargo of cutting Des Moines workers to ship their jobs overseas

Des Moines Register: While Wells Fargo blamed declining workload when it announced hundreds of local layoffs late last year, U.S. Rep. Cindy Axne said the company appeared to be shipping American jobs overseas. Axne, D-Iowa, questioned …
By BPC Staff | Mar 13, 2019
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The bull market turns 10

The Great Recession gave way to a up-and-down recovery that celebrated its 10th birthday over the weekend, the Chicago Tribune reported.

A few of the bumps came close to the 20 percent drop that would signal …
By PERRY BEEMAN | Mar 11, 2019
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Bankers Trust agrees to sell corporate trust business

Bankers Trust Co. has agreed to sell its corporate trust business to Kansas City, Mo.-based UMB Bank, a subsidiary of UMB Financial Corp., according to a release. As part of the acquisition, UMB will open …
By BPC Staff | Mar 5, 2019
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West Bank to expand Minnesota operations

West Bank plans to open loan production offices in the Minnesota communities of St. Cloud, Mankato and Owatonna with the goal of converting those offices to full-service branches, the West Des Moines-based operation said in …
By BPC Staff | Mar 4, 2019
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University of Iowa Community Credit Union picks new name following state law change

Des Moines Register: University of Iowa Community Credit Union has selected a new name after state legislators compelled the state’s largest credit union to abandon its longtime flag. The North Liberty-based credit union announced Wednesday that …
By BPC Staff | Feb 28, 2019