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Banking and Finance

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Affiliates Management acquires First Community Trust

Affiliates Management Co., the holding company for the Iowa Credit Union League, has acquired First Community Trust NA. The acquisition is expected to be finalized in early 2019 and is subject to shareholder and regulatory …

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Loans up 6%, profits up 14% at Iowa banks

Iowa banks generated $832 million in profits through Sept. 30, a 13.8 percent increase from $731 million a year ago, according to the Iowa Bankers Association and Federal Deposit Insurance Corp. Through the first nine …

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Community State Bank owner names new CEO

Cedar Rapids Bank & Trust President and CEO Larry Helling has been named CEO of its parent, QCR Holdings of Moline, Ill., the Corridor Business Journal reported. QCR also owns Community State Bank in Ankeny. Helling’s appointment …

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Dec. 11: CFA Society Iowa Luncheon

Host: CFA Society Iowa
About: Julie Kenney, deputy secretary at the Iowa Department of Agriculture and Land Stewardship, will give an update on issues facing Iowa’s agriculture industry. She will also highlight how the Iowa …

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Wells Fargo to cut 400 positions in Greater Des Moines

Wells Fargo Home Lending will eliminate 400 positions next year in Greater Des Moines as part of a national effort to streamline operations that targets a total of 1,000 jobs, according to a release.
In…
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Veridian awards $86,000 to Iowa, Nebraska nonprofits

Veridian Credit Union has awarded 22 organizations across Iowa and eastern Nebraska a total of $86,000 for its 2018 grant funding cycle. Recipients include organizations who address barriers to financial stability by helping individuals improve financial literacy or …

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Economist: Recession not imminent, but growth will slow in 2019

If you were to bet that the U.S. economy would dip into a recession within the next couple of years, your odds might be better than winning the Mega Millions jackpot — but you’d still …

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Net income down at Federal Home Loan Bank of Des Moines

The Federal Home Loan Bank of Des Moines reported net income of $113 million for the quarter ended Sept. 30, down from $132 million a year ago, and $360 million for the nine-month period that …

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West Bancorporation reports a record third quarter

West Bancorporation Inc. of West Des Moines reported third-quarter net income of $7.1 million, or 43 cents per share, compared with profits in the year-ago period of $6.4 million, or 39 cents per share. For …

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Q&A with DigitalMint’s founder about Iowa tellers and other plans

Cryptocurrency’s domain starts and ends with online transactions — but Chicago-based DigitalMint is bringing bitcoin to the real world with the launch of 17 bitcoin teller windows across Iowa, joining more than 200 other teller and ATM …