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Banking and Finance

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Heartland Financial to acquire California banking operation

Dubuque-based Heartland Financial USA Inc. will acquire Founders Bancorp of San Luis Obispo, Calif., in a cash and stock deal valued at $29.1 million, or $21.87 per share, under a merger agreement that has been …

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MidWestOne profits affected by Minnesota acquisition

MidWestOne Financial Group Inc. said expenses associated with its acquisition last year of a Minnesota-based bank holding company have held down net income through the first nine months of this year. Net income for the …

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The art of banking

Don Coffin had a key role in a piece of Greater Des Moines banking history back on March 1, the day he arrived at the office as president of Bankers Trust Co.

The bank, rapidly …

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Mortgage settlements lift Federal Home Loan Bank of Des Moines income

The Federal Home Loan Bank of Des Moines recorded net income of $74 million and $493 million, respectively, for the three and nine months ended Sept. 30, compared with net income of $39 million and …

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TMG debuts instant-issue EMV chip cards

TMG, a Clive-based payments processor for financial institutions, announced it has begun implementing instant-issue EMV chip cards for its clients, following a successful pilot of the program. The service allows TMG’s credit union and community …

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West Bank reports 9th consecutive quarter of record profits

West Bancorporation Inc. reported its ninth consecutive quarter of record earnings today, with profits for the quarter ended Sept. 30 of $5.8 million, or 36 cents per share, compared with profits of $5.4 million, or …

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BerganKDV acquires Eldora ag accounting firm

Cedar Rapids-based business consulting firm BerganKDV announced it recently acquired Agribusiness Resources CPA LLC, an Eldora-based accounting firm specializing in retail agriculture. Financial terms of the purchase were not disclosed. Agribusiness consulting is one of …

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Meta Financial profits grow in fourth quarter and fiscal year

MetaBank parent Meta Financial Group Inc. reported profits of $33.2 million for year ended Sept. 30, compared with $18.1 million a year ago, while fourth-quarter net income was $6 million, up from $4.6 million in …

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Voya launches finance research institute

Voya Financial Inc. on Tuesday announced the launch of its Voya Behavioral Finance Institute for Innovation. The new research initiative is focused on gaining deeper insights into the behaviors and decisions of Americans regarding their …

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U.S. Bank parent reports record earnings per share for third quarter

Minneapolis-based US Bancorp reported record third-quarter earnings of 84 cents per common share today, a 3.7 percent gain from the year-ago quarter, and profits of $1.5 billion, according to a release. Returns on average assets were …