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Banking and Finance

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Wells Fargo investment chief bullish on ’16 outlook

Darrell Cronk, president of the Wells Fargo Investment Institute and chief investment officer for wealth and investment management for Wells Fargo & Co., was in Des Moines today for the company’s 57th Annual Business Trends…
By JOE GARDYASZ | Nov 18, 2015
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Sloan named Wells Fargo president, COO

  Timothy Sloan

Wells Fargo & Co.’s board of directors has named 28-year company veteran Timothy Sloan to immediately become president and chief operating officer, reporting to Chairman and CEO John Stumpf. Since 2014, Sloan …
By BPC Staff | Nov 18, 2015
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South Story Bank & Trust open in Ames’ Somerset development

South Story Bank & Trust has established a loan production office at 2701 Stange Road in the Somerset addition in Ames. “We look forward to being a part of the vibrancy in Ames…” said President…
By BPC Staff | Nov 13, 2015
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Wells Fargo plans $1.5M Walnut Street museum

A broad-based effort to revamp Walnut Street got a boost Tuesday when Wells Fargo announced it will build a $1.5 million public museum in its Financial Center lobby.


The 5,500-square-foot Wells Fargo History Museum will be the…
By PERRY BEEMAN | Nov 10, 2015
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Convention center hotel approved; Bankers Trust to lead lending consortium

Bankers Trust Co. will lead a group of eight community banks in the $75 million construction loan for the Iowa Events Center Hotel in downtown Des Moines. The banks will participate in what has been…
By KENT DARR | Nov 10, 2015
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Wells Fargo might need $60 billion to cover regulatory requirements

Wells Fargo & Co. would need to raise at least $40 billion in new debt to cover federal regulations requiring large national banks to cover their losses without taxpayer assistance in the event of a …
By BPC Staff | Nov 6, 2015
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Higher incomes mean more loans

Wealthy Americans are leading in borrowing in all categories except student loans, magnifying their advantage in purchasing power over their poorer counterparts, Bloomberg reported.   As earnings diverged and lending standards tightened in the wake of…
By BUSINESS RECORD STAFF | Nov 6, 2015
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Wells Fargo names new chief of a home lending division in Greater DM

Perry Hilzendeger will lead Wells Fargo & Co.’s home lending servicing division, which is based in Des Moines, according to a release. Hilzendeger will oversee more than 17,000 people who service mortgage and home equity …
By BPC Staff | Nov 6, 2015
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Registration open for Iowa Student Loan scholarship contest

Registration is open for a scholarship that offers Iowa high school seniors a chance to receive $2,000 for college while learning important financial literacy skills. In addition, each recipient’s high school will receive a corresponding …
By BPC Staff | Nov 4, 2015
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Branstad names new superintendent of banking

Ron Hansen, chairman and CEO of Liberty Trust & Savings Bank in Durant, has been named superintendent of the Iowa Division of Banking, beginning Nov. 16. Hansen replaces Jim Schipper, who retired Oct. 8 after …
By BPC Staff | Nov 3, 2015