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Banking and Finance

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SBA backs 405 loans for $169.6 million in FY18

The U.S. Small Business Administration guaranteed 405 private loans for a combined $169.6 million in fiscal year 2018, which ended Sept. 30.

That was slightly fewer than the 455 loans backed for a combined $155 …

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Polk County will provide free financial counseling for residents

Polk County and the national Cities for Financial Empowerment Fund will receive funding and technical support for financial literacy programming for county residents, according to a release. Polk County is among 18 local governments across …

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Bankers Trust names new Cedar Rapids market president

Bankers Trust Co. has named Todd Wishman, a veteran of the company’s commercial banking team, as its new president for the Cedar Rapids market, the Corridor Business Journal reported. Wishman has been part of the Des Moines-based …

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Great Western Bank building to enter Cedar Rapids market

Sioux Falls, S.D.-based Great Western Bank has broken ground on its first branch in Cedar Rapids, the Corridor Business Journal reported. The office is expected to open in midsummer 2019 with a staff of about …

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Wells Fargo profit rises; cost cuts paying off

Wells Fargo & Co. posted a 32 percent jump in quarterly profit today, as the bank made headway in its cost-cutting plan and worked to put past misdeeds behind it, Reuters reported. Non-interest expenses in …

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Corro named CEO of Coopera; De Dios Woodward to lead PolicyWorks

Affiliates Management Co., parent company of Coopera, announced that Victor Miguel Corro has been promoted to CEO of Coopera. Corro succeeds current CEO Miriam De Dios Woodward, who has accepted the position of CEO of PolicyWorks LLC, …

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A shrinking inventory

Buyers and sellers are afoot in the state banking industry, and all of that potential merger and acquisition carrying on is not likely to slow anytime soon.

Greater Des Moines bankers say they are seeing …

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BerganKDV acquires HSMC Orizon, expands Midwest locations

Cedar Rapids-based professional services firm BerganKDV will expand its Midwest footprint in a merger with HSMC Orizon. The merger, which closes Nov. 1, adds Omaha and Kansas City offices to the firm, bringing six new …

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Annuity education nonprofit hires executive director

The Society for Annuity Facts & Education (SAFE), a Des Moines-based nonprofit formed to educate and inform the general investing public about the value and strength annuity products, has hired annuity industry veteran Bob Phillips …

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Urbina named BankIowa CEO

BankIowa has named Alison Urbina as CEO, effective Oct. 1, the Corridor Business Journal reported. Urbina has been president of the company since October 2017. She now will be president and CEO, leading 11 banks. She …