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Banking and Finance

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Iowa credit unions’ business lending tops $4.1B in 2021

A handful of Iowa-based credit unions — the five largest in the state by asset size — are driving a significant increase in business lending activity among credit unions in the state. Statewide, member business …

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A Closer Look: Jill Klindt

After discovering her love for animals would not translate into a career in veterinary or animal science, Jill Klindt embraced her natural skill in math and left Iowa State University with an accounting degree in …

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Former Great Western Bank branches open today as First Interstate Bank

First Interstate Bank today officially opens the former Great Western Bank branches in Iowa and seven other Midwest states as First Interstate Bank branches. First Interstate BancSystem Inc. completed its merger with Great Western Bancorp Inc. on …

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Parson joins West Bancorporation, West Bank boards

West Bank announced that Rosemary Parson has joined the boards of directors of West Bancorporation Inc. and West Bank. Parson is the senior vice president of policy administration and community relations of EquiTrust Life Insurance …

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Well Fargo cuts dozens of jobs in Des Moines area amid mortgage slowdown

Des Moines Register: Wells Fargo & Co. is laying off six dozen employees in the Des Moines metro area, according to state filings. The banking giant, whose home mortgage division is based in Des Moines, confirmed …

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Bank of America opens Drake financial center, plans return to south Des Moines

Bank of America on Friday announced several changes to its Greater Des Moines banking footprint, including a new financial center at 2650 University Ave., located just south of the Drake University campus.

The financial center, …

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Toyota Financial cuts 322 jobs in Cedar Rapids as part of office closure plan

Corridor Business Journal: Toyota Financial Services will eliminate 322 positions at the company’s Cedar Rapids customer service center, according to a Worker Adjustment and Retraining Act notice filed with Iowa Workforce Development this week. The cuts …

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Refunds coming for some TurboTax customers

Radio Iowa: Iowa will receive more than $1 million as part of a multistate settlement with TurboTax. The Iowa attorney general’s office says TurboTax has agreed to pay the states involved $141 million following claims that …

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NOTEBOOK – ONE GOOD READ: Rising interest rates sparking higher down payments for home loans, return of ARMs

Last week, the average interest rate for a 30-year home mortgage was 5.1%, the highest it’s been since December 2009, according to data compiled by FreddieMac. The higher interest is pushing some buyers out of …

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Principal survey finds inflation, hiring among concerns for small and mid-sized businesses

The latest Principal Financial Well-Being Index found that small and mid-sized businesses have improved financially over the past year but that progress is tempered by concerns related to inflation, hiring, rising interest rates and the geopolitical …