Mortgage Blog

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Overland Park-based MSTS provides B2B payment and credit solutions in transportation, retail, airline and manufacturing. But it certainly didn't start that way 40 years ago, and its evolution has meant its survival.

Talis Advisors Founder Brent Everett has previously turned down offers from investors looking to buy the fee-only company that he once ran out of his back bedroom.

3M Co. will shut down an electrical plant in Austin, Texas, shifting the work — and maybe some jobs — to a facility in New Ulm, Minn.

Texas-based Community Impact Newspaper reports on the move by Maplewood, Minn.-based 3M (NYSE: MMM), which announced the plan to close the smaller of two Austin facilities by the end of 2019. The plant employs 120 workers who make copper and fiber connectivity products for the utility sector.

A spokesperson told the paper that 3M's New Ulm facility would take…

Maricopa County banks are holding more cash in fewer branches, according to new data from the Federal Deposit Insurance Corp.

The latest summary of deposits data from the FDIC shows that Phoenix-area banks have $98.3 billion on deposit across 60 institutions. That represents a 6.1 percent increase from the previous year.

All those deposits were scattered across 776 branches, down from 803 last year.

Subsidiaries of the nation's three biggest banks — JPMorgan Chase & Co., Wells Fargo & Co. and…

Parents are spending $500 billion annually to support their adult children — two times the amount they're contributing toward their own retirement savings.

A new Merrill Lynch/Age Wave survey found that 79 percent of parents say they provide some financial support to children 18 to 34. Food and groceries are the most common expenses, followed by phone service, car expenses, schools, vacations, rent and student loans.

Further, at least one quarter say they would pull money out of a retirement…

State Farm Insurance will lay off 88 employees in Mendota Heights, virtually its entire workforce there, as it shutters the office as part of a wave of nationwide cutbacks.

The Bloominton, Ill.-based insurer disclosed the pending layoffs at its State Farm Mutual Automobile Insurance Co. operations to state regulators last week, the Star Tribune reports. The job cuts have been a long time coming; the company had announced back in 2016 that it planned to shutter the Mendota Heights office, but didn't…

In local news:

Charlotte has a new connection to Forbes' annual list of the wealthiest people in America, though his residence is listed as Florida. David Tepper, the newly minted owner of the Carolina Panthers and founder of hedge fund Appaloosa Management, comes in at No. 38 on the list with a net worth estimated at $11.6 billion. The magazine calls Tepper, 61, “arguably the greatest hedge fund manager of his generation,” noting that Miami Beach, Florida-based Appaloosa has some $15 billion under…

UMB Bank named a new CEO Wednesday after the resignation of Michael Hagedorn.

According to a release, UMB Financial Corp. (Nasdaq: UMBF) named Jim Rine as CEO, effective immediately. The parent company of the largest bank in the Kansas City area said the move came after Hagedorn resigned as CEO of the bank and vice chairman of the parent company “to pursue other opportunities.”

Rine joined UMB as a credit analyst 24 years ago after graduating from Missouri State University. He was appointed president…

Upland Software has now completed 19 acquisitions in its five-year history. And the CEO sounds hungry for more.