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FRIDAY, SEPT. 14, 2018 | IN THIS ISSUE
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 Central State Bank acquires Swisher Trust & Savings
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Central State Bank's Coralville branch at 805 22nd Ave. CREDIT CSB
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Elkader-based Central State Bank and its parent company AJJ Bancorp have announced a deal to acquire Swisher Bancshares and its subsidiary, Swisher Trust & Savings Bank.
Central State Bank (CSB) has seven locations in Iowa, including two in the Corridor. It counts $275 million in assets and $214.1 million in deposits. Swisher Trust & Savings Bank has just one location in Swisher, with $51.6 million in assets and almost $50 million in deposits.
Terms of the deal were not disclosed, and the proposed transaction remains subject to both regulatory and Swisher shareholder approval. It is anticipated to close later this year.
CSB CEO Greg Johnson said in a release that Swisher's location "fits well" with his bank's current footprint, and will allow the institution to deepen its roots in the Corridor.
"Central State Bank has operated as a family-owned, community bank for almost 90 years, proudly serving both the metro and rural communities in which we operate," he said. "We are excited to bring our brand of relationship banking to Swisher."
Swisher Trust & Savings Chairman Phil Reed said the bank evaluated its options carefully before deciding on the sale to CSB, citing its "exemplary history, stability and commitment to community banking."
CSB's acquisition is the second by a Corridor bank in less than a month. Iowa City-based MidWestOne in late August announced plans to acquire Dubuque-based ATBancorp in a $170 million deal.
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The Iowa Board of Regents on Wednesday approved a proposal by the University of Iowa's Tippie College of Business to add a fully online professional MBA program beginning next fall, the Des Moines Business Record reports.
The college plans to ramp up the program over a three-year period to offer about 54 online sections. The program is expected to provide an option for students unable to access the university's part-time MBA classes offered at its satellite locations, including the Quad Cities and Des Moines. It
will feature high-quality video, real-time synchronous segments with real-time exchanges, and the ability for teams to jump online together to discuss projects and collaborate.
"The faculty is really excited about the new format," David Frasier, associate dean of MBA programs and an adjunct lecturer at the UI, recently told the CBJ. "The general reaction is positive and even [the few faculty hold-outs] are overcoming some of their hesitancy and getting excited about how to develop this new curriculum."
Tippie announced a year ago that it would phase out its full-time MBA program by May 2019, which the college said would enable it to increase investments in part-time MBA programs that serve working professionals.
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In this week's CBJ Report on CBS2/FOX 28, Editor Adam Moore discusses a tasty business acquisition, the opening of the Hyatt Place Iowa City Downtown hotel and a new prep sports app from a Coralville startup that promises to help raise money and connect fans. Watch the full report
here.
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Dr. Justin Gilbert (left) and Dr. James Huber
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Physicians' Clinic of Iowa has welcomed two doctors as part of its newly created Physical Medicine and Rehabilitation department, the Cedar Rapids-based medical group announced this week.
Dr.
Justin Gilbert and Dr. James Huber have joined the clinic's new department, which focuses on physical medicine, such as sports, occupational and musculoskeletal injuries; rehabilitation medicine, focused on the chronic effects of stokes, traumatic brain injuries, multiple sclerosis and more; and electrodiagnostic medicine, focused on peripheral nerve injuries.
Dr. Gilbert specializes in musculoskeletal medicine with an emphasis on interventional spine care. He earned his medical degree from Louisiana State University in New Orleans and completed his residency at Carolinas Rehabilitation in Charlotte, North Carolina.
Dr. Huber specializes in kinetic chain diagnosis and treatment, musculoskeletal medicine, cancer rehabilitation, spasticity management and occupational rehabilitation. He earned his medical degree from the Rowan University School of Osteopathic Medicine in Glassboro, New Jersey, and completed his residency at New York Presbyterian Hospital, Columbia/Cornell.
Founded in 1997, PCI is one of Iowa's largest private specialty medical groups. The organization's PCI Medical Pavilion in Cedar Rapids now houses more than 110 medical providers and 400 support staff, according to the clinic.
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Despite the business world's increasing focus on data security, a new survey from AARP finds that a majority of Iowa residents have yet to take basic precautions against identity fraud.
According to the Privacy Rights Clearinghouse, there have been more than 2,000 data breaches since 2015, impacting over 7 billion records. And while some security experts say almost all consumers have likely been affected in some manner by a data breach, AARP/Iowa's survey shows that many Iowans put themselves in even higher jeopardy due to risky online behavior:
The survey by AARP/Iowa and the AARP Fraud Watch Network found:
- More than half of adult Iowans (55 percent) use the same password for more than one online account
- Only four in 10 (40 percent) report having online access to all of their bank accounts
- Less than half (45 percent) report that they have experienced fraudulent charges on their credit or debit cards, yet very few (14 percent) have ordered a security freeze on their credit report.
- Seven out of 10 (71 percent) failed a quiz testing their "digital identity IQ."
"Our survey results indicate that a lot of people may feel overwhelmed and have just given up," AARP State Director Brad Anderson said in a release. "Two-thirds of those surveyed said that given the number of data breaches that have occurred, they think it is inevitable that criminals will be able to exploit their credit at some point. But we are emphasizing that there are powerful things you can do to make sure that stolen data can't be used against you."
The AARP Fraud Watch Network campaign recommends people do the following to protect their credit and identities:
- Put a security freeze in place with the three credit reporting bureaus so that no one can access your credit file or open a new credit account with your information. For a guide to the process, visit www.aarp.org/CreditFreeze. Traditionally there has been a fee for placing a freeze on your credit report, but beginning later this month the process will become free, thanks to legislation passed by Congress in May.
- Set up online access to all of your financial accounts and regularly monitor them to spot any fraudulent activity that may occur.
- Use unique passwords for each of your online accounts so that one hacked account does not put others at risk. A good way to manage all of those unique passwords is to use a digital password manager.
For more information on identity theft and ways to prevent it, visit the AARP website. Consumers can also sign up for "Watchdog Alert" emails that deliver information about scams, or call a free helpline at (877) 908-3360 to speak with volunteers trained in fraud counseling.
Look for more on cybersecurity in the CBJ's Monday print and digital editions.
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Sept. 14
Ribbon Cutting & Open House: GameOn Sports CR, by Cedar Rapids Metro Economic Alliance, 4-6 p.m., 4625 Tower Terrace Road NE, Cedar Rapids. Help celebrate the opening of the newest sportsplex in the Corridor with a 4 p.m. ribbon cutting and open house featuring musician Casey Klein. Free.
Sept. 17
Coralville Roundtable, by Iowa City Area Chamber of Commerce, noon-1 p.m., S.T. Morrison Park, 1513 Seventh St., Coralville. Roundtables are social lunches over the noon hour. All are invited to network and keep up-to-date with chamber and community events. Free for members. Call the chamber at (319) 337-9637 if interested and not a member.
Sept. 18
Leadercast Webinar, by Hills Bank & Trust, 8 a.m.-2 p.m., 590 W. Forevergreen Road, North Liberty. Hills Bank & Trust presents this webcast of the world's largest one-day leadership conference, originally broadcasted in May. Light breakfast provided. Free, but register by Sept. 11. To register, visit
bit.ly/2vZd7sf.
Iowa City Roundtable, by Iowa City Area Chamber of Commerce, noon-1 p.m., Van B's Brewing, 505 E. Washington St., Iowa City. Roundtables are social lunches over the noon hour. All are invited to network and keep up-to-date with chamber and community events. Free for members. Call the chamber at (319) 337-9637 if interested and not a member.
Unlocking the Potential of Google Ads, by Meld Marketing, 1-4:30 p.m.,
2201 E. Grantview Drive, Suite 201, Coralville. This free quarterly education event by Meld Marketing includes Part One: Getting Started with Google Ads, from 1-2:30 p.m., and Part Two: Putting Google Ads Into Action, from 2:45-4:30 p.m. Only 24 seats available. Register through Sept. 17 at https://meld.marketing/event/september-workshop/
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Wrap up the week
Forward the FREE CBJ Business Daily newsletter to your friends and colleagues, and share the feeling of being informed! Use our fast, one-minute subscription to the CBJ's newsletters
here, or check out our other subscription options
here.
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Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28
Jones Golf Course in Cedar Rapids will reopen on Monday following flooding in the area. The course had been closed since Sept. 4 because of flooding from Prairie Creek. Parks and recreation officials will open the clubhouse and the front nine holes at 7 a.m. The back nine will stay closed for now. Whether golfers will be able to use carts on the course will be determined each day. The Cedar River crested Sept. 9 at 15.55 feet and has since dipped below major flood stage.
After an LGBTQ student was threatened on social media, Anamosa High School responded by electing him homecoming king. Joshua Saravia is a senior and getting ready to pursue a career in real estate. This week has been tough after messages surfaced threatening his life and insulting him. "It's been an emotional roller coaster," his oldest sister Tresha Saravia said. "A couple of weeks ago, we found out he was on the court; the next thing you know, this happened. Everybody has just been supporting him after all of this." The text messages were so severe that CBS2 and FOX28 have decided not to release them. Several of Josh's family members came to support him at the coronation despite initial concerns. At the coronation however, Josh shed tears as he was elected homecoming king of Anamosa High School. The crowd cheered him on, presenting him with the crown and affirming the belief in a community that wants to stand together. "The students here are very supportive of him. He has their back and they have his back," Saravia said. Josh's mother said she was pleased with how the district handled the incident. CBS2 spoke to the superintendent of the Anamosa School District, Larry Hunt. He said they have contacted legal council and are working with law enforcement. He did not comment on if the students involved will face consequences.
These news items are provided by CBS2/FOX 28
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CBS2 Chief Meteorologist Terry Swails' Weather First Forecast
It will be a dry, summery weekend in Eastern Iowa. There will be plenty of sunshine with temperatures in the low to mid 80s. It will also be muggy, especially in the afternoons. High pressure is in control and will keep the weather calm through the weekend and into the start of next week. This pattern is locked in place as Hurricane Florence is slowly moving across North Carolina.
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