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Banking and Finance

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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 …

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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 …