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Banking and Finance

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Waddell & Reed to be acquired by LPL Financial in $300M deal

LPL Financial announced this week that it will acquire the wealth management arm of Kansas City-based Waddell & Reed Financial Inc., which encompasses 921 registered representatives and financial advisers and $63 billion in client assets, Investment …
By BPC Staff | Dec 4, 2020
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SBA names Top Lender Award winners for Iowa

The U.S. Small Business Administration’s Iowa District Office on Tuesday announced the winners of its Top Lender awards for Fiscal Year 2020. U.S. Bank, which was recognized as both the SBA’s Top Overall Lender and …
By BPC Staff | Dec 3, 2020
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Iowa banks’ third-quarter net income down 5.3% year over year; loans up 9.1%

The U.S. banking industry reflected improving economic activity in the third quarter, as quarterly net income rebounded to $51.2 billion, still 11% less than a year ago but an improvement from the 70% annual decline …
By BUSINESS RECORD STAFF | Dec 2, 2020
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U.S. Bank, Lincoln Savings top SBA lenders in Iowa for fiscal ’20

The dollar amount of U.S. Small Business Administration-backed loans made in Iowa increased by 39% in fiscal 2020, with $233.7 million in loans during the fiscal year ended Sept. 30, compared with $168.1 million in …
By JOE GARDYASZ | Dec 2, 2020
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Multiyear guaranteed sales in Q3 boost deferred annuity market

An industrywide snapshot of the annuity market showed sales that are still lagging from a record 2019. Sales of deferred annuities totaled $54.2 billion in the third quarter, an overall decline of 1.1% from the …
By BUSINESS RECORD STAFF | Nov 25, 2020
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Egge named Securities America Distinguished Financial Professional

Jason Egge, vice president of BTC Financial Services, has received the Distinguished Financial Professional Award from Securities America. The award is annually given to the firm’s No. 1 producer of advisory business in the organization’s …
By BPC Staff | Nov 23, 2020
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Principal Financial Group receives Fintech Corporate Innovation Award

Principal Financial Group received the Corporate Innovation Award from Plug and Play during the Virtual Winter Summit 2020, Principal announced this week. The award recognizes corporations that demonstrate a commitment to expanding their innovation culture and …
By BPC Staff | Nov 20, 2020
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Weiss tapped to head U.S. Bank’s Community Central Division

U.S. Bank has appointed veteran Des Moines banker Bob Weiss as one of three leaders nationally to head community banking within the company’s Consumer and Business Banking team. Weiss has been named regional executive for U.S. Bank’s …
By BPC Staff | Nov 16, 2020
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Dupaco announces full-service Waukee ‘learning lab’ branch to open late 2022

Dupaco Community Credit Union on Friday outlined its plans for a second full-service “learning lab” branch to be built in Greater Des Moines, at 1090 E. Hickman Road in Waukee. In August the Dubuque-based credit union …
By BPC Staff | Nov 16, 2020
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Midwest Growth Partners makes $5M investment in Minnesota ag equipment maker

Midwest Growth Partners, a West Des Moines-based private equity fund, announced an investment in Minnesota-based Fast Ag Solutions, a manufacturer of liquid fertilizer application and spraying equipment. Midwest Growth Partners’ investment, which according to a regulatory …
By BUSINESS RECORD STAFF | Nov 13, 2020
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