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Acuity Named a Top Employer
Posted on June 30th, 2009 No commentsACUITY Financial Services & Insurance in Sheboygan was ranked No. 2 among the Top 25 medium-sized companies to work for in America by the Society for Human Resource Management and the Great Place to Work Institute, Inc. Read more.
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Waukesha Bank to Receive TARP Funds
Posted on June 30th, 2009 No commentsWaukesha-based Sunset Bank has been approved for a $5.6 million capital investment from the federal government through the U.S. Treasury’s Capital Purchase Program, according to the Milwaukee Journal Sentinel.
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TARP Funds Making a Difference to Small Banks
Posted on June 30th, 2009 No commentsWithout the $15 million Wausau-based River Valley Bancorporation Inc. got two weeks ago from the U.S. Treasury’s Troubled Asset Relief Program, the bank would have been forced to rein in lending, according to an article in the Wall Street Journal.
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Professor Explains What the FDIC Does
Posted on June 29th, 2009 No commentsWhat does the Federal Deposit Insurance Corporation do? The Wisconsin State Journal answers, with help from University of Wisconsin-Madison banking professor Jim Johannes. Read about Johannes’ March presentation to members of CEOnly Network.
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Associated Experiences More Loan Losses
Posted on June 29th, 2009 No commentsAssociated Banc-Corp expects to post a provision for loan losses of $145 million to $160 million during the second quarter, and that might result in an overall loss for the quarter, the Green Bay-based bank holding company said. The bank’s board has formed a new Risk and Credit Committee to oversee credit risk management and investment portfolio risk. Read the Milwaukee Journal Sentinel article.
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Wis. Banks May Lag in Recovery
Posted on June 29th, 2009 No comments<p class=”MsoNormal”> Many of the state’s banks and credit unions are still laboring under losses from real estate and commercial loans and may take longer to emerge from the current recession than other sectors of the economy, Department of Financial Institutions Secretary Lorrie Keating-Heinemann told WisBusiness.com.
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Editorial: Curb Payday Lending
Posted on June 28th, 2009 No commentsWisconsin’s Predatory Lending Consumer Protection Act, which would cap interest rates for consumer loans at 36 percent annually, should be made law, writes the Wausau Daily Herald in an editorial. Read reader comments here.
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New Appraisal Rules Stalling Home Sales
Posted on June 28th, 2009 No commentsNew appraisal rules that took effect May 1 are hurting home values unnecessarily, according to an article in the Milwaukee Journal Sentinel. In order to avoid trouble with the rule, called the Home Valuation Code of Conduct, many lenders are hiring companies that put together pools of appraisers and then assign them to individual housing transactions, they say.
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Amcore Must Raise Capital
Posted on June 27th, 2009 No commentsRegulators have directed Rockford, Ill.-based Amcore Financial, parent company of Amcore Bank, to raise capital or face the consequences of selling, merging or liquidating the bank, the Wisconsin State Journal reported.
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Former Exec Sentenced for Bank Fraud
Posted on June 26th, 2009 No commentsA former executive of a rural Bangor wood products firm who defrauded a bank out of $2.8 million while trying to keep the business afloat was sentenced Thursday to three years in federal prison, the La Crosse Tribune reported.