Banking and Finance

Des Moines Register: Driven by a steep drop in its Des Moines-based home lending business, Wells Fargo & Co. saw profits cut nearly in half in its most recent quarter. The banking giant today reported net …

The Iowa Public Employees Retirement System was among the five top-performing U.S. public pension funds in its private equity assets, according to a study released this week by the American Investment Council, an advocacy group …

Vital Financial Services, a lender service provider, recently rebranded as LendXP. The new name reflects the company’s commitment to providing community banks and credit unions with an “exponentially” better Small Business Administration loan servicing experience, the company …

Twin Cedars Bancorp, formerly Palm Grove Bancorp, announced it has completed its acquisition of the State Bank of Bussey, which was previously announced in January. The transaction was approved by the Iowa Division of Banking in May. …

The head of the U.S. Small Business Administration this week forged an alliance with the National Pan-Hellenic Council — a group of historically Black college fraternities and sororities known as the Divine Nine. The goal of the …