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Banking and Finance

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BKD adds seasoned audit and advisory partner to Des Moines office

Heather Townsend-Macan has joined BKD CPAs & Advisors as a partner in the firm’s Des Moines office. She joins BKD National Commercial Services Group, where she will provide leadership for audit and advisory services for clients …

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West Bank reports $49.6 million in 2021 earnings, up 52% year-over-year

West Bancorporation Inc., parent company of West Bank, today reported 2021 net income of $49.6 million, or $2.95 per diluted common share, compared to 2020 net income of $32.7 million, or $1.98 per diluted common …

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West Des Moines Water Works votes to begin negotiations on regionalization

This is a water treatment tank at the A.C. Ward water treatment plant in West Des Moines. The West Des Moines Water Works Board of Trustees voted Wednesday to join Des Moines and Urbandale in negotiations …

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Deloitte CFO of the Year: Michael Skokan

Doing what’s best for Hy-Vee’s employees — who now number more than 93,000 — was always at the top of Mike Skokan’s mind as chief financial officer of the West Des Moines-based company. 

Skokan, who …

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Apollo, Athene partner with BNP Paribas to launch supply chain capital company

Apollo and its subsidiary Athene announced they have entered into a strategic relationship with BNP Paribas, a premier global bank, to provide a new solutions platform for working capital and supply chain needs with the establishment of Eliant …

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NOTEBOOK – ONE GOOD READ: Fed releases long-awaited study on a digital dollar but doesn’t take a position yet on creating one

The Federal Reserve did not take a position on a central bank digital currency, or CBDC, in its delayed 40-page report, but the report did show that a digital dollar is not in the near …

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Iowa State Bank names Lauren Burgeson as first woman president

Lauren Burgeson has been named president of Iowa State Bank, making her the first woman to hold this position at the Des Moines-based bank. For more than 30 years, John Burgeson, Lauren’s father, was Iowa State …

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Principal Financial nears insurance units sale to Talcott Resolution, sources say

Reuters: Principal Financial Group is in advanced talks to sell two of its units, with capital reserves totaling $25 billion, to peer Talcott Resolution Life Insurance Co., according to people familiar with the matter. The deal …

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New partnership group to acquire State Bank of Bussey

A new partnership group, Palm Grove Bancorp Inc., has entered an agreement to acquire 100% of the issued and outstanding stock of State Bank of Bussey from Twin Cedars Bancorp Inc. According to a news …

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Wells Fargo reports strong Q4 earnings, beats analyst estimates

Wells Fargo & Co. today posted quarterly revenue that exceeded analysts’ expectations and reported a significant jump in profit, CNBC reported. Shares of the bank climbed about 2% following the earnings announcement. Net income for the fourth …