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Banking and Finance

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Wells Fargo Advisors moves to level fees on 401(k) services

Wells Fargo Advisors is requiring that financial advisers servicing 401(k) plans do so in a level-fee arrangement for new business, as have other large brokerage firms, in response to the Department of Labor’s fiduciary rule, InvestmentNews …

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Heartland adds another Minnesota banking operation

Dubuque-based Heartland Financial USA Inc. plans to buy Signature Bancshares Inc. of Minnetonka, Minn., according to a release. The acquisition is Heartland’s 20th since 1994 and its 13th transaction in the past six years. Signature …

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Guest Opinion: Secure your company’s banking processes and procedures

As the end of the year approaches, it’s often good to reflect on the personal goals you set at the beginning of the year and evaluate your progress. Did I lose the 20 pounds I …

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Federal Home Loan Bank awards foundation $5 million for Native American community development

The Federal Home Loan Bank of Des Moines and the Northwest Area Foundation on Friday announced a collaboration to fund Native American-led community development initiatives across the United States. 

To launch the initiative, FHLB Des …

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Ames National reports increase in net income

Bank holding company Ames National Corp. reported net income for the quarter ended Sept. 30 of $3.9 million, or 42 cents per share, compared with $3.8 million, or 41 cents per share, in the year-ago …

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Majority of Iowa stocks gained in October

October ended with a treat for the majority of companies that make up the Business Record’s Iowa Index, with 15 of the 23 state-based public companies posting gains for the month. 

The index, an unweighted …

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FBL earnings dip in third quarter

FBL Financial Group Inc. reported third-quarter net income of $27.1 million, or $1.08 per share, compared with $30 million, or $1.20 per share, for the third quarter of 2016. Earnings were lower primarily because of …

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Bankers Trust reports record third-quarter earnings

Bankers Trust Co. reported earnings of $13.2 million million for the quarter ended Sept. 30, the highest third-quarter earnings in the bank’s 100-year history, according to a release. Through nine months, Bankers Trust had earnings …

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Voya Financial rebounds to profitable third quarter

Voya Financial Inc. on Tuesday announced net income available to common shareholders of $149 million, or 81 cents per diluted share, compared with a year-ago net loss of $248 million, or $1.24 per share. The improvement …

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Ag loan approvals remain high while farm profits drop

Eighty-two percent of agricultural lenders reported a decline in farm profitability in the last 12 months, according to a joint survey by the American Bankers Association and the Federal Agricultural Mortgage Corp. Despite the continued …