Banking & Financial Services

March bankruptcy filings swell

The total 43,425 bankruptcy filings for March represented a 39 percent increase over the 31,221 filings during the previous month of February, according to data provided by Epiq. Similarly, the 41,150 total noncommercial filings for March represented a 41 percent… more

Earnings tax renewed by Kansas City voters

On Tuesday, Kansas City, Mo. voters that showed up to the polls - just under 11 percent - approved the extension of the one-percent earnings tax (e-tax).  Kansas City Mayor Quinton Lucas and other city officials expressed their content with… more

Missouri granted over $11M for affordable, public housing

On Tuesday, the U.S. Department of Housing and Urban Development (HUD) announced the allocation of $10,536,095 million to the State of Missouri through the nation’s Housing Trust Fund (HTF) for affordable housing. In total, HUD awarded nearly $700 million nationwide.… more

Legacy Restaurant Group buys local NPC Wendy’s locations

Legacy Restaurant Group in Overland Park has acquired 35 Kansas City-area Wendy’s restaurants from Leawood-based NPC International Inc. The acquisition more than triples Legacy Restaurant Group’s (LRG) location count, bringing the total to 51 restaurants in Kansas and Missouri. Financial… more

AMC discusses selling up to 500M additional shares

AMC Entertainment Holdings Inc. is exploring using a possible equity issuance to pare debt obligations or overdue rent. If shareholders authorize the issuance of up to 500 million additional shares, as AMC has proposed, the company would consider using proceeds… more

Fate of Kansas City earnings tax up for a vote on April 6 ballot

On Tuesday, April 6, Kansas City, Missouri, voters will decide on the one percent city earnings tax. The tax is paid by city residents, non-residents who work in the city and businesses located in the city. According to the city,… more

Sale of Custom Truck One Source closes at $1.48B

The acquisition of Kansas City-headquartered Custom Truck One Source has been finalized, the specialized truck and heavy equipment solutions provider selling to Nesco Holdings, Inc.  News of the acquisition was originally announced back in December 2020. Today, the transaction closed… more

PPP loan application deadline extended through end of May

Earlier this week, President Joe Biden signed the PPP Extension Act of 2021, extending the Paycheck Protection Program an additional two months to May 31. “Nearly 90,000 business owners are still in line, and there’s money left,” Biden said. For… more

Prime Capital adds $50M AUM with acquisition

Prime Capital Investment Advisors (PCIA) closed on a deal Thursday bringing on Arkansas-based Sphere Wealth Management. The transaction adds $50 million in assets under management (AUM) to Prime's $11.2 billion in AUM. The deal has added more than 200 families… more

In a Nutshell: Fed Optimistic, But Are Investors?

Stocks swung wildly following last week’s FOMC's highly anticipated meeting as the yield curve pulled back, steepened, then pulled back once more.  The central bank sharply upgraded its 2021 GDP growth forecast to 6.5%, the largest annual output since 1984,… more