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Baylake Still Dealing with Troubled Loans
Posted on August 18th, 2009 No commentsBaylake Corp., the Sturgeon Bay, Wis. holding company for Baylake Bank, reported an increase in net income for the second quarter, but rising levels of nonperforming loans left bank management disappointed, the Business Journal of Milwaukee reported.
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Fed Survey Addresses Loan Demand, Standards
Posted on August 18th, 2009 No commentsU.S. banks extended fewer business loans in the second quarter, largely because of weaker demand for loans and deteriorating creditworthiness. According to a quarterly Federal Reserve survey of senior loan officers, a smaller percentage of banks tightened their loan standards from May through July than was true in the previous three months. Read more in the Business Journal of Milwaukee.
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M&I’s Nonperforming Loans Exceed 5%
Posted on August 18th, 2009 No commentsMilwaukee-based M&I Bank is the largest U.S. bank to own nonperforming loans that equal 5 percent or more of its holdings, according to Bloomberg News. More than 150 U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings. Read the story in the Milwaukee Small Business Times.
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Marine Bank Parent Co. Extends Vote
Posted on August 18th, 2009 No commentsCIB Marine Bancshares Inc. in Pewaukee, Wis., the parent company of Marine Bank, has extended the voting period on its reorganization plan. CIB Marine said it hasn’t received enough votes to approve the plan, and it is extending the voting period until Sept. 9 in the hope of winning support for it, according to the Milwaukee Journal Sentinel.