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Outlook Improving for Baylake Corp.
Posted on May 10th, 2009 No commentsThe last couple of years haven’t been easy for the parent company of Baylake Bank. But the Sturgeon Bay company recorded profits of $2.3 million in the first quarter of this year and announced partial repayment of a soured $10 million agricultural loan relationship. Read more in the Milwaukee Journal Sentinel.
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WaterStone Bank Posts $3.6M Loss
Posted on May 8th, 2009 No commentsThe parent company of WaterStone Bank (the former Wauwatosa Savings Bank) posted a $3.6 million loss in the first quarter as it beefed up reserves to cover potentially bad loans, the Milwaukee Journal Sentinel reported. A story in the Business Journal of Milwaukee covered the bank’s annual shareholder meeting.
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Horicon Signs on for CPP Funds
Posted on May 8th, 2009 No commentsSword Financial Corp., the parent company of Horicon Bank, will become the 14th Wisconsin-based banking company to receive a capital infusion from the federal government through the Capital Purchase Program, according to the Milwaukee Journal Sentinel.
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Report Questions TALF Program
Posted on May 8th, 2009 No commentsThe Congressional Oversight Panel “found compelling reports of slowed lending at its recent field hearing in Milwaukee,” according to its a just-published 172-page report. Much of it focused on the Term Asset-Backed Securities Loan Facility (TALF) program, the Milwaukee Journal Sentinel reported.
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Rough Road for Some Wisconsin Banks
Posted on May 8th, 2009 No commentsA look at Wisconsin’s banking industry reveals some troubling news as well as some diamonds in the rough. Read the Corporate Report Wisconsin article.
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Years of Slow Growth Ahead?
Posted on May 7th, 2009 No commentsThe U.S. economy appears doomed to an enduring episode of unimpressive growth, according to USA Today. “Instead of expanding at an annual rate of roughly 3 percent to 3.5 percent without igniting inflation, as it could in the years before the crisis, the U.S. appears capable of growing no faster than 2 percent to 2.5 percent,” the newspaper reported.
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SBA Lending Up in April
Posted on May 7th, 2009 No commentsThe U.S. Small Business Administration guaranteed 148 loans in Wisconsin totaling $27 million in April, up 30 percent from $20.7 million in March. However, the total was far below the $40.9 million lent in April 2008. Read more in the Milwaukee Journal Sentinel.
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Horicon Bank Accepts TARP Funds
Posted on May 7th, 2009 No commentsThe parent company of Horicon Bank plans to accept a $13.6 million capital investment from the U.S. Treasury, the Milwaukee Journal Sentinel reported. Horicon Bank, with assets of $500 million, has branches in Dodge, Fond du Lac, Outagamie, Washington and Winnebago counties.
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M&I Unit Fined Over Securities Sales
Posted on May 7th, 2009 No commentsM&I Financial Advisors Inc. of Milwaukee is among a growing number of firms that have settled with the Financial Industry Regulatory Authority, the investment industry’s self-regulating agency, to resolve concerns about the sale of auction-rate securities, according to the Milwaukee Journal Sentinel.
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Associated to Help Jobless Customers
Posted on May 5th, 2009 No commentsAssociated Bank mortgage customers who lose their jobs could have their monthly payments deferred up to a year under a new element of the bank’s mortgage modification program. To qualify, borrowers must have their first mortgage and primary residence with Associated, be receiving state unemployment insurance benefits and actively be seeking work. Read the Milwaukee Journal Sentinel or the Wisconsin State Journal article.