Wisconsin Banking Update
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Regulators Close Racine Bank
Posted on October 24th, 2009 No commentsRegulators closed the Bank of Elmwood in Racine on October 23, the first Wisconsin bank failure since 2003. All five branches of Bank of Elmwood will reopen Saturday as branches of Oak Creek-based Tri City National Bank, and all deposit accounts automatically will be switched to Tri City, regulators said. The closing is among a nationwide cascade of more than 100 bank failures this year, the Milwaukee Journal Sentinel reported.