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FDIC Working With Three Wisconsin Banks
Posted on August 28th, 2009 No commentsCitizens State Bank in Hudson and Security Bank in New Auburn have been warned about unsafe and unsound practices in cease-and-desist orders from the FDIC, according to a Milwaukee Journal Sentinel article. At the same time, Evergreen State Bank in Stoughton is countering FDIC allegations in a draft cease-and-desist order.
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TARP Funds Slow to Increase Lending
Posted on August 28th, 2009 No commentsOnly one of the six banks with operations in southeast Wisconsin that received Troubled Asset Relief Program (TARP) funds showed substantial loan growth at 11 percent for the second quarter. That bank was Securant Bank & Trust. Legacy Bank in Milwaukee increased lending 1.6 percent; and the four other TARP banks posted single-digit percentage declines in loan activity. They are: AnchorBank, Associated Bank, M&I Marshall & Ilsley Bank and Ridgestone Bank. Read the story in The Business Journal of Milwaukee.
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Stress Caused Associated’s Binder to Leave
Posted on August 28th, 2009 No commentsFormer Associated Banc-Corp President and CEO Lisa Binder said excessive stress — exacerbated by the difficult banking environment — caused her to leave the Green Bay-Wis. based company abruptly on May 15, according to an American Banker interview, The Business Journal of Milwaukee reported.
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Banks Lose $3.7B in 2nd Quarter
Posted on August 27th, 2009 No commentsAccording to FDIC statistics, federally insured banks posted a net loss of $3.7 billion in the second quarter of 2009, compared with a $4.8 billion profit in the second quarter of 2008, due largely to deteriorating loan quality. Read The Business Journal of Milwaukee article.
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One in Five Wisconsin Banks in the Red
Posted on August 27th, 2009 No commentsWisconsin bank earnings were down in the second quarter, with nearly one out of every five institutions reporting a net loss – an increase of more than 14 percent over the previous quarter. A combination of lower loan demand, fewer qualified borrowers and increased bank operating costs led to a drop in total lending, according to the Wisconsin Bankers Association. Read more in The Business Journal of Milwaukee, the Milwaukee Journal Sentinel, or on the WBA web site.
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Associated’s Beideman Announces Retirement
Posted on August 26th, 2009 No commentsPaul Beideman has decided to retire as chairman, director and CEO of Green Bay-based Associated Banc-Corp, the company’s board of directors announced. Beideman will remain at Associated until Feb. 1, 2010, to facilitate the transition. A national search firm has been hired. Read more in the Milwaukee Small Business Times or the Milwaukee Journal Sentinel.
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Menomonee Falls Banker Promoted
Posted on August 25th, 2009 No commentsMichigan-based Citizens Bank promoted Dean A. Casper to community bank president of the Menomonee Falls branch located at N56 W 16949 Ridgewood Drive, the Milwaukee Small Business Times reported. He has been with Citizens Bank since November 2005.
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Decline in Home Prices May Be Over
Posted on August 25th, 2009 No comments“The big decline [in home prices] is essentially over,” says an economist in the Milwaukee Journal Sentinel. That’s in response to a report that showed the first upward turn – a 2.9 percent gain – from quarter to quarter since mid-2006. Nationally, average home prices are still down 30.2 percent from their peak.
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Manitowoc Bank to Close 3 Branches
Posted on August 24th, 2009 No commentsManitowoc, Wis.-based Bank First National will close branches in New Holstein, Newton and one of its two branches in Plymouth in November, laying off the employees who staff them, the Milwaukee Journal Sentinel reported.
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EEOC Sues Bank for Discrimination
Posted on August 24th, 2009 No commentsThe Equal Employment Opportunity Office said it has sued a JPMorgan Chase bank in Monona, Wis., for allegedly denying a promotion to an employee because she was African-American and pregnant. Read the Milwaukee Journal Sentinel article.