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Tri City Income Down 16% in 3rd Quarter
Posted on October 30th, 2009 No commentsTri City Bankshares Corp., which one week ago acquired Bank of Elmwood in Racine via a regulator-ordered receivership, saw its net income decrease by 16.7 percent in the third quarter. Read more in the Milwaukee Business Journal.
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Exec at Park Bank Milwaukee to Retire
Posted on October 30th, 2009 No commentsAndrew “Andy” Sawyer Jr., who logged 44 years in the Milwaukee financial industry, will retire at year-end from Park Bank, Milwaukee. Sawyer, 66, led the commercial lending unit at Park Bank during his 24 years with the bank and is its executive vice president. Read more in the Milwaukee Business Journal.
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Banker Survey: M&A Outlook Improving
Posted on October 30th, 2009 No commentsConfidence in the U.S. mergers and acquisitions market is starting to rise, according to the fifth annual outlook survey by the law firm Dykema. The survey of 105 bankers, executives and advisors found that 28 percent predict a strong M&A market next year, down from 16 percent in 2008. Read more in the Business Journal.
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Fox River State Bank Agrees to FDIC Order
Posted on October 29th, 2009 No commentsBoard members at the $110 million Fox River State Bank of Burlington, Wis., agreed to a cease and desist order from the FDIC to resolve problem loans and to improve its capital position, said CEO Keith Pollek in the Milwaukee Business Journal.
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First Banking Center Under Regulatory Order
Posted on October 29th, 2009 No commentsThe Milwaukee Business Journal reported that the $1 billion First Banking Center of Burlington, Wis., which has sustained ongoing losses from loans on failed residential subdivisions, is subject to an agreement with the Federal Reserve Board to improve its operations and capital structure.
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Phishing E-mails Appear to Be from FDIC
Posted on October 29th, 2009 No commentsPhishing expeditions for bank customers’ accounts have become more sophisticated, the Federal Deposit Insurance Corp. and the Community Bankers of Wisconsin warn. Customers of several banks and credit unions are receiving e-mails claiming to be from the FDIC. Read more in the Wisconsin State Journal and the Milwaukee Journal Sentinel.
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Capitol Bank Announces Stock Split
Posted on October 29th, 2009 No commentsMadison-based Capitol Bank is issuing a three-for-one stock split for its shareholders, effective Nov. 1. It is the first stock split since the independent, privately owned bank was established in 1995. Read more in the Wisconsin State Journal.
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Milwaukee PyraMax Branch Re-Opens
Posted on October 28th, 2009 No commentsMilwaukee-based PyraMax Bank recently re-opened its location at 1605 W. Mitchell St. on Milwaukee’s south side, where many of the bank employees are bilingual, the Small Business Times reported.
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M&I CEO: ‘We Have Turned a Corner’
Posted on October 28th, 2009 No comments“We have turned a corner. Now the question is how fast the turn will be,” said M&I Corporation President and CEO Mark Furlong, speaking at the annual M&I Bank-Beloit Economic Breakfast. Read more in the Beloit Daily News.
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U.S. Bancorp Reinstates Exec Bonuses
Posted on October 27th, 2009 No commentsU.S. Bancorp CEO Rick Davis and chief financial officer Andrew Cecere will again receive cash bonuses and stock options awards, perks both executives declined to take in January. Read more in the Business Journal.