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Banking and Finance

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FBL Financial fourth-quarter earnings see boost from corporate tax cut

FBL Financial Group Inc. reported net income attributable to FBL Financial Group for the fourth quarter of 2017 of $108.5 million, or $4.33 per common share, compared with $26.9 million, or $1.07 per common share, …

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Federal Reserve shackles Wells Fargo after fraud scandal

The Federal Reserve has imposed unusually harsh penalties on Wells Fargo, punishing it for years of misconduct and barring it from future growth until the bank fixes its problems, the New York Times reported.

The central …

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Meta Financial Group Inc. first-quarter profits up from a year ago

Meta Financial Group Inc., parent of MetaBank, reported profits of $4.7 million, or 48 cents per share, for the first quarter of its 2018 fiscal year, which ended Dec. 31. In the comparable year-ago period, …

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Bankers Trust moves to first from last

Difficult though it might be to imagine that Bankers Trust, a company owned by one of Iowa’s most famous business families, managed to work its way into Greater Des Moines lore without a formal banking …

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‘A very good year for Principal’ — with added tax benefits

Principal Financial Group on Monday announced record net income of $2.3 billion for 2017, with earnings buoyed by a $625.6 million benefit from remeasuring its tax liability using the lower corporate tax rate. Earnings for …

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Feb. 14: CFA Society Iowa luncheon

Host: CFA Society Iowa
About: Doug Ommen, Iowa insurance commissioner, and Nick Gerhart, chief administrative officer for FBL Financial Group and former Iowa insurance commissioner, present “Everything You Wanted to Ask the Commissioner But Couldn’t.” 
When: 11:30 …

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Tax bill took one-time, $13 million bite out of Great Western profits

Sioux Falls, S.D.-based Great Western Bancorp Inc. reported that a one-time adjustment to deferred tax assets, required by federal tax reform, dropped net income in the first quarter of its 2018 fiscal year to $29.2 …

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VIDEO: What’s ahead for the Iowa economy in 2018?

How will Iowa’s economy fare in 2018? We asked a panel of experts at our annual Economic Forecast Luncheon to tell us whether the Iowa economy will improve or regress in 2018.

Watch the video …

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Small-business index shows optimism for economy, revenues

Small-business owners across the United States began 2018 feeling very positive about the overall economy and outlook for their businesses, according to results from the Wells Fargo/Gallup Small Business Index released today. The survey, taken just after …

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West Bancorporation takes a quick hit from tax bill, still reports record earnings for 2017

West Bancorporation Inc. reported record net income of $23.1 million for 2017, compared with $23 million the previous year, according to a release. West Bancorporation took a $2.3 million hit to earnings in the fourth …