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Banking and Finance

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Loan growth helps offset decline in profits for Ames National

Ames National Corp. reported net income of $3.8 million, or 41 cents per share, for the quarter ended Sept. 30, down from $4.1 million, or 44 cents per share, a year ago, according to a …

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Wells Fargo’s quarterly profit falls 3.7 percent amid scandal

Wells Fargo & Co. reported its fourth straight fall in quarterly profit as it set aside funds for potential legal costs amid an increasingly politicized bogus-account scandal that cost Chief Executive and Chairman John Stumpf …

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De Dios named ‘Woman to Watch’ by Credit Union Times

Miriam De Dios, CEO of Coopera in Des Moines, has been named a Credit Union Times 2016 Woman to Watch. The publication’s Women to Watch program spotlights influential, forward-thinking women reshaping the future of the …

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New venture capital firm to specialize in ag tech sector

Prairie Crest Capital, a venture capital firm focused on early to mid-stage investments in breakthrough agriculture and technology firms, has been launched in Des Moines by principals Barry Adams and Mark White. The partners said the …

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Wells Fargo CEO Stumpf retires with $134M; his replacement is considered ‘a quiet fixer’

John Stumpf, the embattled CEO of Wells Fargo, unexpectedly retired from the company late Wednesday afternoon, effective immediately, USA Today reported. While Stumpf doesn’t receive a special retirement payout, executive-pay tracker Equilar estimates he’ll walk with…
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Wells Fargo Foundation grant application deadline nears

The Wells Fargo Foundation is currently accepting grants for human services-related organizations and projects. The deadline is Oct. 15 for grant requests from organizations whose work chiefly benefits at-risk populations and addresses critical needs such …

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A Closer Look: Heidi Parkhurst

Heidi Parkhurst was named Iowa market president for Bank of America earlier this year. She has spent more than 20 years as a financial adviser for Merrill Lynch, which Bank of America acquired in 2009. …

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Pullin will work Iowa for UMB’s ag division

Douglas Pullin

UMB Bank, a subsidiary of UMB Financial Corp., has hired Douglas Pullin as vice president in its agribusiness division. Pullin will cover the Iowa region and be responsible for developing new agribusiness customers …

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MidWestOne names chief operating officer

Kevin Kramer has been appointed chief operating officer of MidWestOne Bank and its holding company, Iowa City-based MidWestOne Financial Group Inc., according to a release. He recently was executive vice president and director of commercial …

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Iowa state treasurer won’t suspend activity with Wells Fargo

Cedar Rapids Gazette: State Treasurer Michael Fitzgerald thinks the president of Wells Fargo Co. should be fired but doesn’t plan to close the state’s account with the bank that “keeps the state’s checking account, if you …