Customers rate bank web sites highlyBank customers who use online services have a high degree of satisfaction, according to research published by ForeSee Results of Ann Arbor, Mich. Using a consumer satisfaction index developed by the University of Michigan, the company found that 1,600 survey respondents gave bank web sites a user satisfaction rating of … Read more
Holding companies report gains in insurance revenueThe nation’s bank holding companies experienced an increase of 0.5 percent in their total insurance revenue to $43.7 billion in 2007, from $43.5 billion in 2006. Citigroup, Inc., Wells Fargo & Company, HSBC North America Holdings in Illinois, and Bank of America Corporation led all bank holding companies with … Read more
Joshua Guttau has been named president of Treynor State Bank, Council Bluffs, Iowa. Guttau joined the bank in 2003 as chief financial officer. Guttau attended Iowa State University, Ames, where he earned both bachelor’s and master’s degrees in finance. Mick Guttau will remain chairman and CEO of the bank but will move from day-to-day management to focus on … Read more
Treasury secretary says investment firms need greater supervisionU.S. Treasury Secretary Henry Paulson said investment bankers should face additional regulation. Speaking March 26, he said that if investment bankers want access to the Federal Reserve’s Discount Window, they should be subject to the same rules that commercial banks face. Meanwhile, Max Baucus, D-Mont., the Senate Finance … Read more
Among the bank’s initial investors and board members is Vincent E. Jackson, more popularly known as Bo Jackson, the professional athlete made famous in the 1990s for doing double duty as a Major League Baseball and National Football League star. [Continue]
Minnesota surcharge-free ATM network grows; Fourth-quarter earnings show more banks reporting losses; Iowa regulator says housing crisis impacts bank liquidity; Minnesota banks help distressed borrowers get counseling; Missouri bank fails [Continue]
Bankers Trust, a $2.1 billion bank based in Des Moines, Iowa, has hired Suku Radia to become president. His first day on the job was March 13. Radia is well known to many Iowa bankers because he headed up the banking practice at KPMG for many years before taking the chief financial officer post at … Read more
Economy slowing Economic growth has slowed since the beginning of the year, according to Federal Reserve banks and their Beige Book report. Two-thirds of the Fed Districts cited softening or weakening in the pace of business activity, while the others referred to subdued, slow or modest growth. Retail activity in most areas was weak or … Read more
Banking family honored for community-mindedness CorTrust Bank, Sioux Falls, S.D., was recently named Sioux Falls Family Business of the Year by the South Dakota Family Business Association. CorTrust Bank is owned by the Hopkins family and led by third generation banker Jack Hopkins. The bank operates 23 locations in 16 communities throughout South Dakota. To … Read more
Mike Porter will retire from his position as president and CEO of Bremer Bank, Grand Forks, N.D., at the end of 2008. Porter was appointed the bank’s president and CEO in 2001; he’s been with Bremer and its predecessor institution, Valley Bank & Trust Company, for 34 years. A search is underway to find Porter’s … Read more