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Banking and Finance

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Protests, anger brew at Wells Fargo annual meeting in D.M.

Amid the hundreds of business meetings held around Greater Des Moines today, the Wells Fargo annual shareholders meeting likely received the most attention. 

At the start, Wells Fargo CEO Tim Sloan and board of directors …

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First National Bank will acquire Osceola State Bank

Ames-based First National Bank has entered into a stock purchase and subsequent merger agreement to acquire Clarke County State Bank in Osceola. The agreement provides for the purchase of 100 percent of the outstanding stock …

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MidWestOne reports 16 percent increase in net income for first quarter

Iowa City-based MidWestOne Financial Group Inc. reported first-quarter profit of $7.8 million, or 64 cents per share, compared with $6.7 million, or 58 cents per share, in the same period last year. The increase in …

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Principal posts higher first-quarter earnings

Principal Financial Group on Thursday reported first-quarter net income of $397.1 million, or $1.36 per share, compared with $348.9 million, or $1.19 per share, in 2017. The company also said it would raise its dividend …

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Profits up for Great Western Bank parent

Sioux Falls, S.D.-based Great Western Bancorp Inc. reported a second-quarter profit today of $40.5 million, or 69 cents per share, up from $35 million, or 60 cents per diluted share, in the year-ago quarter. Total loans …

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West Bancorporation reports record quarterly profits and dividend

West Bancorporation Inc., parent company of West Bank, said today that first-quarter profits rose to $7.4 million, or 45 cents per common share, from $6.1 million, or 37 cents per share, in the first quarter …

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Foster Group receives Gallup Great Workplace Award

Foster Group, a fee-only investment adviser group in West Des Moines, was recognized by Gallup as a 2018 Great Workplace Award winner. The firm, which also has an Omaha office, was the only small employer in Iowa …

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Despite misgivings, SEC releases proposed rule for investment advisers

The Securities and Exchange Commission voted Wednesday to release a three-pronged proposed rule for public comment that would change the standard of care that broker-dealers owe retail investors, require new client disclosures for all investment …

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A fix for Iowa’s broken individual health market?

Now that the Iowa Legislature and the Trump administration have enacted measures to expand association health plans in Iowa and nationally, state and federal regulators are writing rules to provide new options for many types …

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Manus to leave CO-OP Financial Services

Credit union fintech provider CO-OP Financial Services announced that Shazia Manus, chief product and strategy officer, will leave the company this month to join CUNA Mutual Group’s AdvantEdge Analytics, a data and analytics business. Manus …