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Banking and Finance

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Wells Fargo provides $200K boost to 6th Avenue Corridor

Wells Fargo & Co. will provide a $200,000 grant under its NeighborhoodLift revitalization program for the 6th Avenue Corridor Streetscape project along Sixth Avenue between Hickman Road and Interstate 235 in Des Moines, according to …

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Sammons Financial Group recognized in Glassdoor rankings

Sammons Financial Group Inc. has received a Glassdoor Employees’ Choice Award, recognizing the Best Places to Work in 2019. The Employees’ Choice Awards program is based solely on the input of employees who elect to …

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Iowa Finance Authority cleared in review of Jamison-era finances

Consultants Eide Bailly LLP’s review of the Iowa Finance Authority’s financial systems during fired director Dave Jamison’s tenure found “no significant employee expense reimbursement, travel payment expenditure concerns or internal control-related concerns.” State lawmakers ordered …

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Wells Fargo to pilot fee-only advisor offices in 2019

Wells Fargo plans to test the waters in the fee-only advisor market by opening several registered investment advisor (RIA) offices around the country next year, Financial Planning magazine reported. The bank, which has been embroiled in a …

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Principal board authorizes additional $500 million in stock repurchases

Principal Financial Group on Tuesday announced that its board of directors has approved a new authorization for the repurchase of up to $500 million of the company’s outstanding common stock. As of Sept. 30, about …

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Schaaf to lead retirement services for Principal; Everett to retire

Principal Financial Group announced that Renee Schaaf, senior vice president and chief operating officer of Principal International, will become the new president of Retirement and Income Solutions effective March 1.

Schaff will succeed Nora Everett, current…
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Athene recognized as Military Friendly employer

Athene USA, a leading provider of retirement savings products based in West Des Moines, has earned the Military Friendly designation for a third consecutive year, and this year also was named a Military Friendly Spouse …

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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 …