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FDIC OIG says lax lending, poor risk management led to Iowa bank failure

American Banker

The FDIC Office of Inspector General attributed the downfall of Citizens Bank in November 2023 to lax lending practices and risk mismanagement by the Lange family, causing a $14.8 million loss to the regulator's Deposit Insurance Fund. The OIG saw no grounds for a more extensive review.

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Equipment finance firm applies for industrial loan charter

American Banker

GreatAmerica Financial in Iowa is looking to form a bank so it can offer more products to small- and midsize companies.

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A community bank-fueled payments rail

Independent Banker

Moreover, payments are withdrawn from the user’s FDIC-insured checking account and are protected by multiple layers of security, which prevents fraudster access. American State Bank in Sioux Center, Iowa, is another CHUCK network participant. “As billion-asset community bank.

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Who were ICBA’s Top Lenders of 2022?

Independent Banker

Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. Iowa State Bank. Iowa Falls. United Bank of Iowa. But as they always do, they came through for individuals and businesses in their communities with a combination of personalized service and prudent risk management practices.