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Insurance

12915

Bonds for the brave


Dear Mr. Berko:

I have a sizable amount of money ($38,000), and I want to gamble with Illinois municipal bonds, which I hear can yield up to 8 percent and more. I know Illinois is …
By MALCOLM BERKO | Feb 25, 2011
12918

A Closer Look: John Egan


Where are you from originally?

My family is from the tri-state area (New York, New Jersey and Connecticut). I grew up in Queens and got my undergraduate degree in accounting from Manhattan College and worked …
By JOE GARDYASZ | Feb 25, 2011
12921

You save, you get a chance to win a prize


Iowa’s banking and credit union industries are at odds over legislation that would allow financial institutions to offer raffle prizes to entice people to open a savings account.

The idea is to encourage savings, not …
By KENT DARR | Feb 25, 2011
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American Equity announces fourth-quarter and year-end results

American Equity Investment Life Holding Co. reported an operating income of $108.9 million, or $1.70 per share, in 2010, an increase of 7 percent from 2009 operating income of $101.8 million.

Net income was $42.9 …
By BPC Staff | Feb 24, 2011
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EMC announces fourth-quarter and year-end results

EMC Insurance Group Inc. reported operating income of $2.21 per share in 2010, down from $2.55 per share in 2009.

Net income totaled $31.35 million in 2010, down from $45.37 million in 2009. President and …
By BPC Staff | Feb 24, 2011
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Lehman loses bid to recover $11 billion ‘windfall’

Lehman Bros. Holdings Inc. lost a bid to recover an alleged $11 billion “windfall” from Barclays plc’s purchase of its defunct brokerage unit, when a judge ruled the transaction was fair, Bloomberg reported.

Barclays stands …
By BPC Staff | Feb 23, 2011
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Decreased loan activity lowers Home Loan Bank income

The Federal Home Loan Bank of Des Moines on Tuesday reported preliminary net income of $133 million for 2010, a decrease from net income of $145.9 million in 2009. The bank’s net income was primarily …
By BPC Staff | Feb 23, 2011
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Bank of America increases write-down to $20.3 billion

Bank of America Corp., the biggest U.S. lender by assets, nearly doubled a goodwill impairment for its credit card unit to $20.3 billion to reflect increased defaults and an almost 2-year-old change in credit-card lending …
By BPC Staff | Feb 22, 2011
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Kopaska to lead Wells Fargo commercial loan team

Wells Fargo & Co. has named Kevin Kopaska loan team manager for its Iowa Regional Commercial Banking Office. The regional office provides credit, treasury management, 401(k), equipment leasing, insurance and international/foreign exchange services for companies …
By BPC Staff | Feb 22, 2011
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What did Fitch do during the revolution?

Fitch Ratings downgraded Libya’s credit rating today, saying the move “reflects the eruption of political risk evidenced by the increasing momentum of the popular uprising aimed at ending Muammar Gadhafi’s 42-year rule.” The rating agency …
By BPC Staff | Feb 21, 2011