V-Wealth's big return: It probably will double in size
V-Wealth Management is on track to double its assets under management and surpass $1 billion. The Overland Park-based wealth manager and advisory firm was founded from scratch in 2009. It has a...
View ArticleLockton adds Milwaukee as newest market
Lockton Insurance Cos. Inc. opened a new operation in downtown Milwaukee. The privately held insurance broker and benefits consultant hired John O'Connor and Bill Crowley as senior vice presidents,...
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Area bank failures cost FDIC fund $1B
Eleven bank failures in the Kansas City area did $1.01 billion in damage to the Federal Deposit Insurance Corp.’s Deposit Insurance Fund from 2008 to 2012. That’s 11.3 percent, or $102.4 million, more...
View ArticleHoenig: New bank reserve requirements not strict enough
Bank regulators approved a final rule that increases the amount of capital banks are required to keep in reserve for losses. The effort is the result of U.S. regulators considering the Basel III...
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UMB sets up shop in Texas
UMB Bank is planning to open a new office in Dallas, establishing its first presence in the state of Texas. UMB already named Zach Fee as the new president for the Texas Region, according to his...
View ArticleKansas has lowest overdraft fees in the nation
The average overdraft fee in Kansas is $25, which makes it the lowest in the nation, according to a new study by Moebs Services. The Midwest average is $29, and the national average is $30. Delaware...
View ArticleFormer UMB employee faces $650K embezzlement charge
Lisa L. Taylor, who was a closing account specialist at UMB Bank, is accused of generating 377 fraudulent checks worth $650,659 between May 2006 and October 2010. Eleven of her friends and family...
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Kemper: Dallas is loaded with opportunity for UMB
It's been nine years since UMB Bank ventured outside of its current footprint to create a presence in a new state. The commercial bank which is the largest by Kansas City market share of deposits,...
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James Dornbrook: KC area sees SBA loans, amounts decline
Small Business Administration lending is up 6.9 percent nationwide, but it’s down 5.2 percent in the Kansas City District Office compared with the pace set during the previous fiscal year. The SBA...
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James Dornbrook: Only Arvest comes in under FDIC loss-share estimate
Of the 11 bank failures in the metro area since 2008, only one acquiring bank stayed under the Federal Deposit Insurance Corp.’s initial estimate for losses to the Deposit Insurance Fund. Regulators...
View ArticleH&R Block Bank sale is just the beginning
The announcement of a deal to sell H&R Block Bank only scratches the surface of a long-term relationship forming between buyer Republic Bank & Trust Co. and H&R Block Inc. H&R Block’s...
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Equity Bank eases up on Blue Valley's TARP
Brad Elliott, CEO of Wichita-based Equity Bank, said he has withdrawn a change-of-control application sent to the Federal Reserve Bank about plans to acquire as much as 100 percent of the Troubled...
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Armed Forces Bank gets salute as a top military bank
Kansas City-based Armed Forces Bank was named as one of the top five banks or credit unions for military members. The list by GoBankingRates.com placed Armed Forces Bank in the No. 5 spot. Ahead of the...
View ArticleNew Missouri Works law broadens incentives eligibility
The new Missouri Works program allows more businesses to qualify for tax credits than in the past and is something business owners should pay attention to if they are looking to grow in Missouri. Betty...
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James Dornbrook: What if the rich don’t act it?
The fact that 31 percent of millionaires don’t view themselves as rich is more than just a fascinating psychological study. It affects the economy as a whole. It’s important, given that 70 percent of...
View ArticleCitizens Bank will merge with Landmark National Bank
Landmark National Bank announced plans Friday to acquire Citizens Bank, which is based in Fort Scott, Kan. Citizens Bank — not affiliated with Citizens Bank & Trust Co. in Chillicothe, Mo. — has...
View ArticleLocal M&A slow in first half, but outlook is promising
Mergers and acquisitions activity in the Kansas City area during the first half of 2013 was at the lowest rate since 2009, but experts were anything but pessimistic. There were 64 deals publicly...
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Ovel named as Bank of America market president
Jack Ovel is the new market president for Bank of America in Kansas City. Ovel succeeds Spence Heddens, who served as president for the past seven years. Heddens remains with Bank of America, serving...
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Boulevard offers new sample packs
Boulevard Brewing Co. officially announced Monday that it will soon launch variety 12-packs that include some never-before released beers. The new "Sample Twelve" package will include three bottles...
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Malecha's experience suggests direction for Compass Minerals
It was an interesting day to interview Fran Malecha, who became CEO of Overland Park-based Compass Minerals in January. The company's common stock price was dive-bombing 18.5 percent. A large Russian...
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