-
Decline in Farmland Value Worst Since 1985
Posted on May 21st, 2009 No commentsThe value of good farmland in several Midwestern states fell by a dramatic 6 percent in the first quarter, the biggest decline since 1985, the Federal Reserve Bank of Chicago wrote in its AgLetter. The Fed also reported that the demand for non-real estate loans and the availability of funds were higher than in the same period a year ago. Loan repayment rates edged up as well. Read the Reuters article.
-
Southport Bank Names New CEO
Posted on May 21st, 2009 No commentsGerald Schwallier will succeed Southport Bank founder Karl Ostby as president and chief executive of Southport Bank in Kenosha. Ostby, who started the bank in 1997, said earlier this year that he plans to retire. Schwallier, 62, was founding president of Meridian Capital Bank in Milwaukee. He also was the market chief executive for Bank One in Kenosha and Racine. He most recently was executive vice president and chief credit officer for the Bank of Scottsdale in Arizona. Read the Milwaukee Journal Sentinel article.
-
Fiserv to Buy Back Shares
Posted on May 21st, 2009 No commentsThe board of Fiserv Inc. authorized the repurchase of up to 5 million shares, or about 3 percent, of the company’s common stock, according to the Milwaukee Journal Sentinel.
-
McKenna Named to OTS Committee
Posted on May 19th, 2009 No commentsJames F. McKenna, president and chief executive of North Shore Bank, will serve a two-year term on the Mutual Savings Association Advisory Committee, which will help guide and provide input to the federal Office of Thrift Supervision as it considers changes in banking regulations. Read the Milwaukee Journal Sentinel article.
-
M&I to Sell $350M in Stock
Posted on May 19th, 2009 No commentsMarshall & Ilsley Corp. plans to sell up to $350 million in common stock. The company noted that that some of the money may be used to repurchase a portion of the $1.7 billion in preferred shares M&I sold last November to the Capital Purchase Program, the Milwaukee Journal Sentinel reported.
-
More Banks Get TARP Funds
Posted on May 19th, 2009 No commentsThree more Wisconsin banks are participating in the government’s Capital Purchase Program: Boscobel Bancorp Inc., the parent company of Community First Bank; Deerfield Financial Corp., the parent company of Bank of Deerfield; and Brogan Bankshares Inc., the parent company of The Bank of Kaukauna, the Milwaukee Journal Sentinel reported.
-
Wis. Angel Investing Up, Venture Capital Down
Posted on May 19th, 2009 No commentsWisconsin angel networks and funds posted a 28 percent increase in early stage investments in 2008, reaching more than $15 million invested in 53 deals. Yet at the same time, venture capital investments in Wisconsin – declined by 32 percent in 2008. Read the Business Journal article.
-
M&I Sued Over Fla. Housing Development
Posted on May 18th, 2009 No commentsA Florida development group planning a gated, waterfront town home community in Tarpon Springs, Fla., is suing M&I Marshall & Ilsley Bank in federal court in Tampa, the Business Journal of Milwaukee reported.
-
Stress Tests on M&I Differ
Posted on May 18th, 2009 No commentsTwo new independent analyses of small- to mid-sized banks reached different conclusions on whether Marshall & Ilsley Corp. might need to raise capital to withstand further deterioration in the economy, the Business Journal of Milwaukee reported.
-
Associated to Pay Binder $1.65M
Posted on May 18th, 2009 No commentsLisa B. Binder, who resigned as president and chief operating officer of Associated Banc-Corp, will be paid $1.65 million over 10 months as part of a separation agreement, the Milwaukee Journal Sentinel reported.