/EIN News/ -- DES MOINES, Iowa, April 29, 2019 (GLOBE NEWSWIRE) -- 2019 First Quarter Summary Financial Results Net income totaled $112 million, a decrease of $6 million from the same period last year. Net interest income totaled $159 million, an increase of $2 million from the same period last year. Balance sheet changes from December 31, 2018 were: Assets totaled $146.0 billion, a decrease of $0.5 billion. Advances totaled $99.2 billion, a decrease of $7.1 billion. Investments totaled $38.3 billion, an increase of $6.5 billion. Capital totaled $7.4 billion, a decrease of $0.2 billion. Retained earnings totaled $2.1 billion, a slight increase from December 31, 2018. Regulatory capital ratio was 5.14 percent, a decrease from 5.27 percent. First Quarter 2019 Business Highlights Advances of $99.2 billion were outstanding to 718 members, housing associates, and former members, of which 62 percent were held by the Bank’s five largest borrowers. Mortgage loans of … [Read more...] about FHLB Des Moines Reports Preliminary First Quarter 2019 Net Income of $112 Million
Oregon first community credit union
EDITOR’S NOTE: Entrepreneurs everywhere are eyeing the billion-dollar legal weed industry, an economic opportunity unrivaled in modern N.J. history. NJ Cannabis Insider features exclusive and premium weekly content geared toward those interested in the marijuana industry. View a sample issue.WASHINGTON — As more and more states legalize marijuana, their nascent cannabis businesses are running into a problem.Since cannabis remains illegal on the federal level, dispensaries and other cannabis-related enterprises can’t open bank accounts, accept checks or take credit cards. They can’t give their employees pay checks because they don’t have an account to draw them against. It’s a cash-only business.“The current conflict between state and federal law has created a cloud of legal uncertainty for community banks, inhibited access to the banking system for cannabis-related businesses, and created a serious public safety concern,” Gregory Deckard, … [Read more...] about Will you be able to buy legal weed in N.J. with a credit card?
Four months after the Oregon College Savings Plan switched plan administrators and promised snazzy, new service upgrades to its 109,000 accounts, the plan’s website still lacks some basic information and functionality, and some users claim the administrator is dropping the ball in processing transactions.Doug Boe, a Lake Oswego resident, says it took more than a month to process a deposit he made to his daughter’s college savings account in November. He says he spent seven hours last month – much of it on hold – trying to clear the funds and make a tuition payment for her study abroad program next semester. He said he ultimately received a check in the mail on Dec. 29, after specifically requesting an electronic funds transfer to expedite the process. By the time he made the tuition payment, it was two weeks overdue. He calls the episode as “The Nightmare of Sumday” – a cheeky reference to the Bank of New York/Mellon subsidiary that is now … [Read more...] about Oregon College Savings Plan transition still rocky for some
Portland teenager Karina Autar is committed to becoming a lawyer and staying active in social justice causes. Studying centuries-old speeches wasn't part of her academic plan. That is, until she met actors from the Oregon Shakespeare Festival. During a school-sponsored trip to Ashland to see a performance of William Shakespeare's "Henry V," Autar discovered that an English playwright from the 17th century still has wisdom to share. "Henry V is trying to prove to everyone that he is a worthy ruler," concluded the Benson Polytechnic High School senior, who wants to major in political science. Appreciating theater was a turnaround for the overworked 17-year-old, who admits to sleeping on the "brutal" bus ride in October from her Portland school to the Oregon Shakespeare Festival in Ashland. On the ride back, however, she said students and teachers couldn't stop talking about their life-changing experience. This was no ordinary field trip. Autar is part of a consistent wave of students who … [Read more...] about Oregon Shakespeare Festival makes theater relevant for all students: Season of Sharing 2018
A five-time bank robber was sentenced Monday to seven years in federal prison. Eric Basil Smotherman hit four credit unions and one bank in the Portland area within a three-week period. The robberies occurred between Sept. 13 and Oct. 6, 2017. In each, Smotherman passed a note to a teller demanding cash. Eric B. SmothermanColumbia County Sheriff's Office "The note that every teller fears,'' recalled one of Smotherman's victims, a teller from Castparts Employees Federal Credit Union, only identified as Christine. Once she read the first few words of the note and realized it was a robbery, she said she couldn't read on. She couldn't sleep for days, and remains "constantly on the lookout'' at work, wondering if the next person she encounters is going to rob her employer, she told the court. After he hit four more banks, Portland police caught Smotherman through a bank tracking device that pinpointed his location, according to court records. Smotherman's untreated bipolar … [Read more...] about Five-time bank robber sent to federal prison for 7 years