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Banking and Finance

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Jeremy Smith named CEO of Affinity Credit Union

Jeremy Smith will succeed Jim Dean as Affinity Credit Union’s CEO when Dean retires on Jan. 31, 2024. Smith, who’s been vice president of lending for Affinity Credit Union since October 2021, has over 10 …
By Business Record Staff | Nov 30, 2023
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Wells Fargo economists: U.S. 2024 outlook ‘generally’ remains resilient, too soon to say ‘storm has passed’

Consumer spending has kept the U.S. economy resilient in 2023, but Wells Fargo’s annual economic outlook report released this month predicts the country’s gross domestic product (GDP) will “contract modestly” in mid-2024 as inflation continues …
By Mike Mendenhall | Nov 21, 2023
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State banking officials close Citizens Bank in Sac City

Citizens Bank, located in Sac City, was closed on Friday by the Iowa Division of Banking after examiners discovered “significant” loan losses not previously reported by the bank, the state agency announced.

The Federal Deposit …
By Kathy A. Bolten | Nov 6, 2023
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Veridian Credit Union seeks public nominations for local Giving Tuesday donations

Veridian Credit Union is asking for public input on which local nonprofit organizations should receive a portion of $35,000 for Giving Tuesday on Nov. 28. Members of the public are invited to nominate their favorite …
By Business Record Staff | Nov 3, 2023
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Casey’s awarded for revamped financial system reducing labor, bank fees

Casey’s General Stores Inc. received the Association for Financial Professionals 2023 Pinnacle Awards Grand Prize for excellence in treasury and finance for the implementation of a new banking system. The system has helped reduce labor …
By Business Record Staff | Nov 1, 2023
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Principal Financial reports Q3 earnings

Associated Press: Principal Financial Group Inc. on Thursday reported third-quarter profit of $1.39 billion. On a per-share basis, the Des Moines-based company said it had profit of $5.50. Earnings, adjusted for investment gains, came to …
By Business Record Staff | Oct 27, 2023
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NorthRock, Sammons Financial partner to transform wealth management and advice industry

NorthRock Partners, a Minneapolis, Minn.-based full-service financial and lifestyle advisory firm, and Sammons Financial Group, a Midwest-based financial services company, announced a partnership aimed at enhancing and expanding a client-centric approach to the traditional wealth …
By Business Record Staff | Oct 20, 2023
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Regional banks’ preliminary Q3 earnings reports show mixed results

Several regional banks reported mixed profits but more stable deposits in third-quarter earnings reports released Wednesday and Thursday, according to the Wall Street Journal.

U.S. Bancorp and Citizens Financial reported sliding profits from a year …
By Business Record Staff | Oct 19, 2023
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Drake forum will focus on identifying, measuring, managing risk

The Drake Risk and Opportunity Forum on Oct. 26 and 27 will allow participants to connect and learn from professionals managing risk in financial and non-financial organizations. Discussion topics for the forum include exploring artificial …
By Business Record Staff | Oct 18, 2023
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FIN Capital invites new women investors to Nov. 6 event

FIN Capital Investor Association is holding a membership event to welcome women accredited investors to join their efforts to fund startups in Iowa. FIN Capital is a membership network of individual female angel investors in …
By Business Record Staff | Oct 17, 2023