DECEMBER 2, 2019 | IN THIS ISSUE

• Iowa banks report healthy gains in loans, deposits
• Great Western Bancorp announces retirement of chair & CEO
• Video: CR's Rompot neighborhood continues fight against Cargill railyard
• Iowa Public Television to become Iowa PBS in 2020
• Gov. Reynolds appoints Ahlers to Iowa Court of Appeals
Iowa banks report healthy gains in loans, deposits
Iowa-chartered banks recorded $63.7 billion in active loans on their books as of Sept. 30, up 4.5% from the prior year’s third quarter, the Des Moines Business Record reports .
 
Year-to-date net income for the Iowa banking industry was $883 million as of Sept. 30, compared with $832 million for the year-ago period, according to new quarterly results from the Federal Deposit Insurance Corp.
 
Total deposits at Iowa banks were $74.2 billion at the end of the third quarter this year, up 6.58% from the year prior.
 
Loan quality at Iowa banks remained strong in the third quarter. Net loan charge-offs were at 0.10%, compared with 0.09% last quarter. At 0.73%, the noncurrent loan percentage of total loans is up from the year-ago percentage of 0.70%.
 
"Iowans can be thankful they are served by a diverse banking system dedicated to growing healthy communities," said John Sorensen, president and CEO of the Iowa Bankers Association. "Iowa’s banks remain key drivers of our economy with nearly $3 billion in new loans generated over the past 12 months alone."
 
Last week, the FDIC said the U.S. banking industry reported positive results overall and the annual rate of loan growth for community banks outpaced the overall industry.
 
Low commodity prices and farm incomes persisted in the third quarter, resulting in modest deterioration in the agriculture sector, according to the FDIC. While the net charge-off rate for agriculture loans remained low, some farm banks are reporting asset quality deterioration in farmland and production loans.
 
"The noncurrent rate for agriculture loans at community banks rose by 11 basis points from a year ago to 1.27%, but is below levels reached during previous downturns," the FDIC report stated.

IMAGE: A chart showing active loans, in billions, by Iowa-chartered banks, with the year-over-year percentage change shown in the orange line. DATA FDIC
Great Western Bancorp announces retirement of chair & CEO
Great Western Bancorp Inc., the parent company of Great Western Bank, has announced that Chairperson, President and CEO Kenneth Karels will retire effective next October or when the company appoints his successor.

Following the appointment of Mr. Karels’ successor, Mr. Karels will continue on in an advisory capacity to assist in the transition.

Mr. Karels has more than 43 years of banking experience, including 17 years with Great Western. He has served as CEO since 2010, and was elected chairperson in 2017. He also serves as chair, president and CEO of Great Western Bank, and serves on the boards of the bank’s other subsidiaries.

During his time with Great Western, the bank completed its initial public offering and grew its assets from $5.2 billion in 2009 to more than $12.7 billion as of this year, according to the company.

“It has been an honor to have led Great Western. After over four decades in banking, and almost a decade as the CEO of Great Western, I believe 2020 is the right time to retire,” Mr. Karels said in a release. “I look forward to transitioning the helm to the new CEO when identified and acting as an advisor to Great Western after retiring. I want to express my appreciation for the opportunity and privilege it has been to work with so many talented and dedicated colleagues at Great Western.”

Great Western Bank currently serves customers through more than 170 branches in nine states. It counts Corridor branch locations in Cedar Rapids and North Liberty.

IMAGE: Kenneth Karels, of Great Western Bancorp. CREDIT GREAT WESTERN
Video: CR neighborhood continues fight against Cargill railyard
More than a dozen people turned out on Saturday for a walking tour led by State Sen. Rob Hogg designed to show the impact of a proposed Cargill railyard in Cedar Rapids, news partner CBS2/FOX 28 reports. Mr. Hogg is one of several residents who believes the Rompot neighborhood is not suitable for an industrial railyard, which would bring 12 tracks and storage for up to 200 rail cars, and recently received its first approvals from the Cedar Rapids City Council.

“I find the best way to convince people that this project shouldn't happen, that this proposed rezoning for an industrial rail yard shouldn't happen, is by showing them the site,” Mr. Hogg said. Watch the full report here .
Iowa Public Television to become Iowa PBS in 2020
Iowa Public Television has announced it will change its name to Iowa PBS effective Jan. 1, as part of a broader rebrand at the national broadcasting company.
 
PBS in November began rolling out a refreshed brand ID in November, and Iowa PBS will adopt the same refreshed look with a co-branded logo, a bold color palette and a modern typeface designed to be legible on screens of all sizes.
 
IPTV’s Friends organization, which raises funds for the network, will also become the Friends of Iowa PBS Foundation.
 
"Iowa PBS better represents who we are and how we deliver content in today's digital age," said Executive Director and General Manager Molly Phillips in a release. “As Iowans increasingly look to new ways to view information and entertainment, our new name will help ensure they will easily find their favorite locally produced programs as well as PBS programs where and when they want to watch.”
 
The new local identity will be implemented throughout 2020, alongside PBS's national brand refresh, and adopted across all of Iowa Public Television’s channels, including its IPTV KIDS, IPTV WORLD and IPTV Create channels. The organization’s website URL will become iowapbs.org, and its social and video platform names will also be updated.
 
Ms. Phillips added that while Iowa Public Television will be changing its name to Iowa PBS, viewers will still find their favorite programs where they have always tuned to watch them. More information about the rebranding can be found here.

IMAGE: A graphic from Iowa Public Television unveiling the updated Iowa PBS branding. CREDIT IPTV
Gov. Reynolds appoints Ahlers to Iowa Court of Appeals
Gov. Kim Reynolds has appointed Paul Ahlers as a judge on the Iowa Court of Appeals.
 
Mr. Ahlers, of Fort Dodge, currently serves as a district associate judge in Judicial Election District 2B. He previously practiced law with firms in Spencer, Fort Dodge and Webster City, and with Travelers Insurance in St. Paul, Minnesota. He will fill the vacancy created by the upcoming retirement of Iowa Court of Appeals Judge Amanda Potterfield, of Tiffin.
 
Mr. Ahlers received his undergraduate degree from Iowa State University and his law degree from the University of Iowa College of Law. 
 
The Iowa Court of Appeals is the state’s intermediate appellate court. It is composed of nine judges and decides appeals from district courts across Iowa.
 
Ms. Potterfield was appointed to the Iowa Court of Appeals in 2008 by then-Gov. Chet Culver. Before that, she served as a judge in the state’s Sixth Judicial District, which covers Benton, Iowa, Johnson, Jones, Linn and Tama counties.
Short Term Event Planner
Dec. 2
New Member Mixer, by Cedar Rapids Metro Economic Alliance, 4-6 p.m., CountryHouse, 5710 Gibson Drive NE, Cedar Rapids. Meet and mingle with new members of the Economic Alliance. Free. To register, visit bit.ly/2NHCckH .
 
Dec. 3
2019 Workforce Awards, by Corridor Business Journal, 7:30-10 a.m., The Hotel at Kirkwood Center, 7725 Kirkwood Blvd. SW, Cedar Rapids. The CBJ is partnering with Kirkwood Community College to recognize companies in Kirkwood’s seven-county region that are ahead of the curve in creating and maintaining their workforce talent edge. Keynote by IEDA Director Debi Durham. For more information, call Ashley Moore at (319) 665-6397, ext. 311.

Financial Management for the Closely Held Business, by Hills Bank, 8 a.m.-5 p.m., Hills Bank, 590 W. Forevergreen Road, North Liberty. Learn how to proactively control your company’s finances through financial management techniques and maximize profits through informed decision making. Cost: $100 per person, lunch and materials included. To register, visit HillsBank.com/BusinessAcademy .

On the Menu: End of Year Bookkeeping and Tax Write-Offs, by Marion Chamber of Commerce, 11:30 a.m.-1 p.m., Marion Chamber, 1225 Sixth Ave. This session will cover financial statements, payroll/1099s and other year-end filings and due dates, and things to keep in mind when thinking about your tax return. Free for chamber members, $10 for non-members. To register, visit bit.ly/37h1k9v .

Dec. 5
Wake Up Marion, by Marion Chamber of Commerce, 8-9 a.m., Wit’s End Coffeehouse, 630 10th St., Marion. Join chamber members and get to know Jen Christopherson and her team at Wit’s End. Free. To register, visit bit.ly/2NkiCut .

Legislative Forum, by Marion Economic Development Corp., 8:30-10 a.m., Linn County REC, 5695 REC Drive, Marion. MEDCO is partnering with Professional Developers of Iowa to present a legislative forum leading up to the 2020 legislative session. Free. For more information, visit bit.ly/37l98ap .
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Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28  
 
Three people are recovering from injuries after a crash in Cedar Rapids early Sunday morning. Jessica Hauptmann, 33, of Cedar Rapids, is charged with OWI. The Cedar Rapids Police Department received the call around 1:15 Sunday morning to the cross-roads of First Avenue and 11th Street NW. When officers arrived, they found a two-car accident, including an SUV in someone's yard. The three occupants were taken to the hospital by ambulance with non-life threatening injuries.

The Linn County Sheriff's Office has released the names of the victims in a deadly hit and run early Sunday morning in Center Point. Authorities say Kimberley Swore, 50, of Center Point, died at the scene while Jack Greenhaw, 46, of Vinton, suffered minor injuries. The sheriff's office says they first got a call about a vehicle hitting two pedestrians at 1:30 a.m. Sunday in the parking lot of a bar called Bully's North, at 510 Iowa St. Witnesses at the scene say a gray Chevy Suburban driven by Bret Klima, 30, of Urbana, hit the two and took off. The sheriff's office says he turned himself in later on Sunday morning. Authorities did not specify if Mr. Klima had been charged in the case but did say the investigation is still ongoing.

These news items are provided by CBS2/FOX 28  
CBS2 Weather First Forecast
High pressure moves in behind this weekend's storm and it will be quiet and cool today. Temperatures will be in the mid 30s with plenty of sun. Tuesday through Thursday will be pleasant with plentiful sunshine and highs in the low to mid 40s. A weak cold front approaches the area Thursday, but with limited moisture we'll probably just have a few passing clouds. It will knock temperatures back into the 30s Friday afternoon.