Banking & Financial Services

Kansas City State of the City address outlines budget cuts

The Kansas City State of the City address on Wednesday night covered topics such as violent crime, a strained budget and COVID-19. Nothing new to the city and others across the U.S., COVID-19 is just one reason for a massive shortfall… more

Kansas reopens small business applications for federal PPP

Kansas small businesses can officially apply for forgivable loans through the Paycheck Protection Program. Governor Laura Kelly says the launch of 2021 coronavirus relief programs by the federal government opened the door for the application process to begin. PPP is… more

Kansas infrastructure receives $84.6 million in federal funding

Kansas Gov. Laura Kelly along with Kansas Department of Transportation (KDOT) Secretary Julie Lorenz announced the state department has received around $84.6 million in federal funding. The funds come from the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) of… more

Bank stocks up, yields rise

The latest rise in bond yields has boosted financial stocks, but the rally’s staying power remains in question. The Financial Select Sector SPDR Fund is up about 6% week to date versus a 3.6% gain for the S&P 500. The U.S. 10-year Treasury yield has been… more

Creative Planning makes largest acquisition yet, adds $6 billion in assets with Illinois company

Creative Planning Inc. announced the a hefty addition to its assets with the acquisition of IRON Financial, located in the Chicago area in Northbrook, Ill. Overland Park-based Creative Planning will bring on the retirement division of IRON Financial, which has… more

Chase Bank to add two new KC-area branches in 2021

Well-known brand has plans to continue its growth in the Kansas City metro, announcing its intention to open two additional JPMorgan Chase Bank locations in the area this year. There are currently four existing Chase Bank in Kansas City; one… more

In a Nutshell

Traditionally, new presidents get a 100-day “honeymoon” through April, but before we get too far into the new Biden administration, it’s worth noting where things stand with last month’s presidential transition. The previous four years, I believe, were remarkable for… more

Missouri to require return of overpaid jobless benefits

Missouri residents mistakenly paid unemployment benefits by the state could be required to pay that money back. Gov. Mike Parson said Thursday. The Missouri Department of Labor said the state has overpaid roughly $96 million in unemployment benefits between January… more

NPC receives court approval to proceed with Chapter 11

NPC International, Inc. announced it has achieved approval from the U.S. Bankruptcy Court for the Southern District of Texas on its Second Amended Joint Chapter 11 Plan. The Plan is supported by the Leawood, Kan.-based company’s key stakeholders, among others.… more

GDP rises in Q4, year shows overall decline of 3.5 percent

After a year dominated by COVID-19, the economy closed 2020 in decent conditions, all things considered. Gross domestic product (GDP), increased at a 4 percent pace in the fourth quarter, slightly below the 4.3 percent expectation from economists surveyed by… more