Banking & Financial Services

Fed Votes to Hold the Course on Interest Rates

While saying “the case for an increase in the federal funds rate has strengthened,” the Federal Reserve announced today that it will not make a rate change at this time. The Federal Open Market Committee, which is charged with setting… more

UMB Bank to Acquire $76 Million in HSAs

UMB Bank has agreed to acquire approximately 40,000 Health Savings Accounts (HSA) from the Bancorp, Inc., as part of Bancorp’s ongoing moves to exit the HSA business. Deposits and investment assets related to the accounts are reported at $76 million.… more

Open and Shut Cases

    At first blush, one might think we’re hip deep in a banking crisis. Over the past 10 years, within the Kansas City Metropolitan Statistical Area, these are just a few of the changes to the banking infrastructure: Out… more

KC Corporations See Potential in Minority Entrepreneurs

Today is graduation day for 30 Kansas City-area participants in a program called Strategy and Business Development for Minority Business Entrepreneurs—a 2½ -day intensive education program for executives, brought to Kansas City by the Ivy League staff of Dartmouth College's  Tuck School… more

Survey Cites the Effect of Cash Flow on Business Growth

It may sound obvious but apparently, businesses around the world would be in better shape if everybody paid their bills on time. According to Colin Sharp, senior vice president at a company called C2FO, “There is a significant opportunity for… more

Federal Reserve “Beige Book” Reports on the Kansas City District

According to the Federal Reserve Bank, activity in the Fed’s Tenth District—Kansas City— was largely flat in recent months, though expectations remained mostly positive. That assessment is from the Federal Reserve’s Beige Book, a report produced eight times a year… more

The Bust in the Boom

In December 2008—the same year that the oldest members of the Baby Boom generation became eligible to file for early Social Security retirement benefits—the board of governors for the Federal Reserve Bank responded to that autumn’s financial crisis by dropping… more

Tax cuts hurt Moody’s rating of Kansas bonds

Moody's Investors Service says Kansas’ financial outlook is negative as a result of revenue shortfalls caused by the 2012 tax cuts championed by Gov. Sam Brownback. The rating service this week assigned a Aa3 rating to $49 million worth of… more

KC Life Profit Nearly Halved in Second Quarter

Kansas City Life Insurance Co. recorded net income of $5.2 million, or 54 cents per share, in the second quarter of 2016, a decrease of $5.7 million, or $0.47 per share, relative to the same quarter in the prior year. … more

KC Life names new auditor

Kansas City Life Insurance Company has announced that it has engaged BKD, LLP as its independent auditor for 2016. BKD will replace the Company's previous independent auditors, KPMG LLP.The selection of BKD as the company's new independent auditors was made… more