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Insurance

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Goodwill impairment hurts income but not capital


A decade of bank acquisitions resulted in a $34.4 million lossfor First American Bank in the quarter that ended Sept. 30.

First American Bank, with headquarters in Fort Dodge and branches in Greater Des Moines, …

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Second Stanbrough firm files for bankruptcy protection

Corporate Woods LLC, a property management company controlled by Daniel Stanbrough, has filed to reorganize its finances under federal bankruptcy law. The company is the second Stanbrough firm to file for protection under Chapter 11 …

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West Bancorporation declares special dividend

On Nov. 17, the board of directors of West Bancorporation Inc. declared a special cash dividend of 5 cents per common share payable Dec. 20 to shareholders of record on Nov. 29. David Milligan, board …

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Fitch upgrades Lifespace rating

Lifespace Communities Inc., a nonprofit organization headquartered in Des Moines, has received an “A” rating from Fitch Ratings for a tax-exempt bond offering totaling more than $30 million. The proceeds from the bond offering, which …

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FBL, West Bancorporation declare quarterly dividends for shareholders

West Des Moines-based FBL Financial Group Inc. announced that its board of directors yesterday declared a quarterly cash dividend of 6.25 cents per share for owners of Class A and Class B common stock.

There …

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Iowa joins new elder fraud prevention initiative

The Iowa Insurance Division yesterday joined 23 other state regulators across the country in launching an initiative to help physicians spot seniors who are particularly vulnerable to becoming victims of investment fraud.

The Elder Investment …

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Dwolla secures $1 million investment

Dwolla Corp., an online payment business (www.Dwolla.com) launched in Des Moines earlier this year, has secured $1 million in equity financing, co-founder Ben Milne said.

The Veridian Group Inc., a wholly owned subsidiary of Waterloo-based …

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Consumers prefer choice on overdraft protection

Only 22 percent of consumers holding an automated teller machine (ATM) or debit card have opted-in for debit card overdraft protection, according to a national poll by the Consumer Reports National Research Center. The poll …

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U.S. Bank to buy Bank of America unit

U.S. Bancorp announced Monday that it will buy the securitization trust administration business of Bank of America Corp. U.S. Bank plans to spend up to $35 million on the deal, according to the Minneapolis/St. Paul …

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Economist predicts ‘phenomenal’ farm income

The best second half for commodities in a generation is pushing U.S. farm incomes and agricultural land prices toward record highs, Bloomberg reported.

At a time when the U.S. jobless rate is 9.6 percent and …