Banking & Financial Services

FDIC Looks at American Banking Habits

A Federal Deposit Insurance Corporation (FDIC) study out today says that 8.5 percent of Missouri households did not have a bank accounting in 2015 and that 22.3 percent were underbanked. For Kansas, the figures were 7.6 percent unbanked and 18.3… more

Leadership Change at Alterra Bank

The parent company of Alterra Bank, First Business Financial Services, Inc., has announced that Alterra president and CEO, Pam Berneking is no longer with the bank. Chuck Mackey, Alterra Bank Board Chairman, said, “Under Pam’s leadership, Alterra Bank set out… more

CBOE Holdings to Acquire Bats Global Markets

Bats Global Markets, Inc.— operator of the second-largest stock exchange in the U.S., as well as the largest stock exchange and trade reporting facility in Europe—has entered into a definitive agreement to be acquired by CBOE Holdings, Inc., the holding… more

KCRise Fund Has $10 Million in Commitments

The KCRise Fund—an initiative of the KC Rising effort to fully realize the Kansas City region’s economic potential—announced today that it has closed on an initial $10 million in commitments from area investors.  KCRise was established, “as a solution to… more

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