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LEADERSHIP AGENDA

Operational Scan

ECONOMIC INDICATORS

DEPARTMENT PERFORMANCE

DEPARTMENT PERFORMANCE

Commerce - Banking

Ron Hansen, Superintendent

Mission Statement:
Protect the interests of those doing business with banks and other financial services providers by ensuring safety, soundness and adherence to the laws and regulations of Iowa.

Measures:
Financial institutions in compliance
Charter banks: examined timely
Financial institutions: examined per statute
Financial Institutions: complaints resolved timely
New Business Development
On-line License Renewals

MORE DEPARTMENT PERFORMANCE

  • Download PDF document  Performance Plan - How we measure our progress

  • Download PDF document  Strategic Plan - How we plan for progress

  • Download PDF document  Performance Report - How we report our progress

  • Department Home Page - Learn more about this department

Highlighted Measure:

Percent of Iowa chartered Banks operated in a safe and sound manner and in compliance with applicable laws and regulations.

Data Source: Dept. of Commerce, Division of Banking

2015 –
Rating 1 – 50.7%
Rating 2 – 47.5%
Rating 3 – 1.4%
Rating 4 – 0.4%
Rating 5 – 0%



Updated 12/31/2015


GRAPH - State Charted Bank CAMELS Composite Ratings

Why this is important:
Composite ratings are based on a careful evaluation of an institution's managerial, operational, financial, and compliance performance. The six key components used to assess an institution's financial condition and operations are: capital adequacy, asset quality, management capability, earnings quantity and quality, the adequacy of liquidity, and sensitivity to market risk. The rating scale ranges from 1 to 5, with a rating of 1 indicating: the strongest performance and risk management practices relative to the institution's size, complexity, and risk profile; and the level of least supervisory concern. A 5 rating indicates: the most critically deficient level of performance; inadequate risk management practices relative to the institution's size, complexity, and risk profile; and the greatest supervisory concern. The composite ratings are defined as follows:

Composite 1 Rating - indicates strong performance and risk management practices, and any weaknesses are minor and can be handled in a routine manner. These banks give no cause for supervisory concern.
Composite 2 Rating - reflects satisfactory performance and risk management practices, areas of weakness may be present but are considered minor and if left unchecked could develop into greater concern. These banks have minor supervisory contact.
Composite 3 Rating - represents performance that is flawed to some degree and risk management practices may be less than satisfactory, banks require more than usual supervisory attention to address deficiencies.
Composite 4 Rating - refers to poor performance of serious supervisory concern that, if left unchecked, would be expected to lead to conditions that could threaten the viability of the bank, and weaknesses and problems are not being satisfactorily resolved.
Composite 5 Rating - considered unsatisfactory performance that is critically deficient and in need of immediate remedial attention, weaknesses and severity of problems are beyond management's ability or willingness to control or correct, and these conditions directly threaten the viability of the bank. These banks have a high probability of failure, are under continuous supervisory scrutiny and involvement, and will likely require emergency assistance, liquidation, merger or acquisition.

What we're doing about this:
All financial institutions chartered and licensed by the Iowa Division of Banking are examined within statutory timelines and assigned a CAMELS rating.

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Highlighted Measure:

Percent of state chartered banks examined within statutory time limitations.

Data Source: Dept. of Commerce, Division of Banking

 

Updated 08/27/2015

GRAPH - State Chartered Banks Examined Within Statutory Time Limitations

Why this is important:
All financial institutions chartered and licensed by the Iowa Division of Banking are operated in a safe and sound manner ensuring their safety for the citizens of Iowa. Pursuant to Section 524.217 of the Iowa Code, every state chartered bank must be examined at least once during each two-year period.

What we're doing about this:
Continue to meet its statutory requirements of 524.217.

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Highlighted Measure:

Percent of state licensed non-depository financial institutions required to be examined by statute examined.

Data Source: Dept. of Commerce, Division of Banking

 

Updated 08/27/2015

GRAPH - Financial Institutions: Examined Per Statute

Why this is important:
Regular examination of licensees ensures alternative credit is offered to Iowans in compliance with laws and regulations.

What we're doing about this:
Continue to meet the statutory requirements.

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Highlighted Measure:

Percent of complaints against licensed non-depository financial institutions resolved within 30 days.

Data Source: Dept. of Commerce, Division of Banking

 

Updated 08/27/2015

GRAPH - Financial Institutions: Complaints Resolved Timely

Why this is important:
Iowa residents deserve to receive a timely response from entities that are licensed to conduct business in the state. It is felt that 30 days is a reasonable time for a licensee to respond to a consumer complaint.

What we're doing about this:
Complaints are monitored frequently. 100% were reviewed within 6 days of receipt. Utilization of email to communicate with two week hold dates for responses has allowed us to obtain prompt responses from licensees.

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Highlighted Measure:

Percent of license applications processed within 30 days.

Data Source: Dept. of Commerce, Division of Banking

 

Updated 08/27/2015

GRAPH - License Applications Procssed Within 30 Days

Why this is important:
Businesses seeking a license to conduct business in Iowa are able to begin offering their services to the public sooner when their license applications are approved quickly.

What we're doing about this:
Most applications are submitted electronically through NMLS. 100% of the applications submitted were reviewed within 6 days of submission. In reviewing the applications that took the longest to process, it was noted 20 money transmitter (many dealing with bitcoin or virtual currency) license applications were submitted which required much more in-depth review than for other license types. We continue to monitor pending applications closely.

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Highlighted Measure:

Percent of on-line license renewals.

Data Source: IowaInteractive - calendar year quarterly report

NOTE: Engineers & Land Surveying and Real Estate Commission are not due to renew until 12/31/2015.

Updated 08/27/2015

GRAPH - On-Line License Renewal for Professionals

Why this is important:
The Professional Licensing Bureau has the responsibility of protecting the citizens of Iowa, providing administrative support, as well as licensing and regulating over 32,000 professionals in the professions of engineering and land surveying, accountancy, architects, landscape architects, real estate brokers and salespersons, real estate appraisers and interior design.

The Bureau annually receives and investigates over 500 complaints, performs over 200 trust account audits, administers uniform national exams to more than 2,000 candidates yearly, registers approximately 1,000 new individuals yearly, and renews over 13,000 individuals and firms.

The Professional Licensing Bureau utilizes an on-line license renewal for all professions but one. The goal is to have 95% renewal on-line. The on-line license renewal process is an efficiency measure that allows for a reduction in the amount of personnel time, office supplies, and postage expended for this process and will give the professional a more expedient response from the bureau. When license renewals are not delayed it assures a more safe profession for the citizens of Iowa.

What we're doing about this:
The Professional Licensing Bureau is continuing to work with the Office of the Chief Information Officer (OCIO) and the division's IT staff to create a new database and upgraded on-line license renewal system that is reliable and has the capability to renew all of our professions. Relilability has been a problem with the current system and it is believed that this has caused a lower percentage of those renewing on-line. With the new renewal system, it is anticipated that additional postage and staff time will be conserved.

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