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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.

FDIC 41
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Iowa bank names a New York banker as CEO

American Banker

Lincoln Savings Bank has tapped Sean Willett, chief administrative officer at Financial Institutions, as its next leader after a six-month search.

Iowa 36
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Community Bank Consolidation Accelerates: Simmons First National in $277M Double Buy in Tennessee

Banking Exchange

Two community banks snapped by Simmons, while Illinois’ Heartland Bank looks to push into Iowa Community Banking Feature3 Feature Management M&A.

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BaaS Specialist Moov Lands $5.5m Investment

Banking Exchange

Iowa-based fintech Moov Financial is to expand its engineering team and accelerate product development after landing $5.5 million from investors Management Feature Feature3.

Iowa 78
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NCUA bans former Iowa branch manager for fraud

American Banker

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Iowa 52
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Google Pay Adds 29 US Banks To Mobile Payment Service

PYMNTS

Iowa Falls State Bank. Users were able to see a list of recent spending, with the ability to add and remove payments, manage subscriptions, update billing addresses and make other changes. First Central Credit Union. First National Bank of Milaca. Grand Savings Bank. Greater Cleveland Community Credit Union. Greenleaf Wayside Bank.

Google 130
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Report: 80 Pct. Of NJ Gamblers Place Wagers Online

PYMNTS

Mobile betting, however, is only allowed in five: New Jersey, Pennsylvania, West Virginia, Iowa and Nevada. com to invest in automated authentication processes, according to Russell Medley, 888’s director of fraud and risk management. Geofencing ensures mobile apps stay within each state. That’s pushing companies like casino site 888.com

NJ 108