The Iowa company was sidelined by a Fed order for 2,155 days. Finally free, Ambank is open to making an acquisition and offering its mortgage origination services to other institutions.
The company expects to report a $15 million gain in the fourth quarter from the stock sales, which will more than offset any deferred-tax impairment tied to recently passed tax reform.
Minneapolis Fed President Neel Kashkari acknowledges that his plan to raise capital at the biggest banks and ease burden for smaller ones isn't likely to be enacted soon, but says its time will come.
