Business briefs: Pinnacle Bancorp makes 2 acquisitions

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Pinnacle Bancorp Inc., parent of Pinnacle Bank Nebraska, has acquired its second Texas Bank.

The bank said Friday it bought First Bank in Azle, Texas, which is near the Dallas-Fort Worth area.

First bank has $200 million in assets and six locations.

Pinnacle Bancorp also announced Firday that The Pinnacle Agency, an insurance affiliate of the company, has purchased CBS Insurance Associates with offices in Grand Island, St. Paul and Sutton, giving the Pinnacle Agency 11 locations across Nebraska.

Established in the 1930s, Pinnacle Bancorp Inc. is a Nebraska-based, $4.6 billion bank holding company with more than 100 locations in eight states, including 48 in Nebraska.

TD Ameritrade makes management changes

OMAHA — TD Ameritrade Holding Corp. named a new chief operating officer Thursday as the company prepares for Fred Tomczyk to become CEO next month.

Ameritrade had announced in May that Tomczyk will move up from his current chief operations officer job to become chief executive on Oct. 1 as part of a succession plan. He is replacing Joe Moglia, who will become chairman of the Omaha-based online brokerage.

Ameritrade said Thursday Dave Kelley, the company’s chief information officer, will become chief operating officer.

Ameritrade also announced some minor changes to its senior operating committee.

The management changes at Ameritrade are happening because company founder Joe Ricketts announced earlier this year that he would step down as chairman at the end of September when the company’s fiscal year ends. Ricketts plans to remain on the board.

Nearly 1 in 10 face mortgage trouble

A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to mount, the Mortgage Bankers Association said Friday.

But the source of trouble in the mortgage market has shifted from subprime loans made to borrowers with poor credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments.

The problem is also concentrated in a handful of states, the worst being California and Florida. The real estate markets in those two states were fueled by some of the riskiest lending practices and rampant speculation during the housing boom that has turned into a devastating bust.

In Nebraska, the delinquency rate for mortgage loans on residential properties was 4.66 percent, up about half a percent. The delinquency rate excludes loans in the process of foreclosure. The percentage of loans in Nebraska on which foreclosure was started during the quarter fell four-tenths of a percent to 0.6 percent, while the percentage of loans in the foreclosure process at the end of the quarter fell two-tenths of a percent to 1.54 percent.

NPPD to issue $300 million in bonds

COLUMBUS — The Nebraska Public Power District plans to issue more than $300 million in bonds next week to finance transmission lines and other projects.

The bonds will also help pay for improvements at NPPD’s Gerald Gentleman Station power plant near Sutherland, and for the company’s participation in the Omaha Public Power District’s new Nebraska City plant.

But most of the money will pay for transmission line construction between Columbus and Lincoln.

The majority of the bonds will be repaid over a 30-year period.

— From staff and wire reports