Former Wells Fargo CEO banned from banking
Former Wells Fargo CEO John Stumpf can no longer work in the banking industry and must pay a $17.5 million fine for his role in the fake accounts scandal. [Continue]
Writer: Anna Cushing
Kristina Williams appointed CEO at FHLB Des Moines
Kristina Williams was named president and CEO for the Federal Home Loan Bank of Des Moines, replacing Mike Wilson in the role. [Continue]
Bremer shareholders sue trustees, state AG gets involved
St. Paul, Minn.-based Bremer Bank’s 16 employee-shareholders filed a complaint against the three trustees of the Otto Bremer Trust, who, as majority shareholders of Bremer Financial Corp., the bank’s holding company, have proposed to sell the bank, and were met with stark opposition in late October. [Continue]
Health insurer deposits $20 million in Minnesota community banks
The Independent Community Bankers of Minnesota is supporting an innovation program by a health insurer that will deposit millions of dollars into local community banks. [Continue]
De Novo First Women’s Bank begins capital raise
First Women’s Bank, Chicago, the proposed women-led de novo bank, appointed its CFO and chief risk officer and received its permit to organize. [Continue]
Iowa bank to host economic development forum
TS Bank, Treynor, Iowa, will host the first southwest Iowa community and economic development forum in late February, partnering with two local nonprofits. [Continue]
Wis. bank acquires office building for use during HQ remodel
Port Washington State Bank is acquiring the Port Harbor Center adjacent to its downtown headquarters in Port Washington, Wis. [Continue]
Northern Minnesota Bank celebrates 100 years in business
Woodland Bank, Grand Rapids, Minn., is celebrating its centennial anniversary in business with events sprinkled throughout the 2020 calendar year. [Continue]
Initiative spurs dialogue on gender diversity in the C-suite
Standing in front of a room full of more than 100 Minnesota bankers at a country club along the Mississippi river, Jennifer Docherty, a spritely New Yorker and associate general counsel at Sandler O’Neill, and managing director of Bank on Women, Inc., glided enthusiastically from her first favorite slide to her second and third favorite slides. [Continue]
Rural Mainstreet Index indicates continued expansion
A December 2019 report found that the economy in the central U.S. is continuing to expand, though the pace of growth has slowed. [Continue]