-
M&I Raises $863M in Stock Offering
Posted on October 27th, 2009 No commentsMarshall & Ilsley Corp. closed its public offering of 156.4 million shares of common stock after generating proceeds of about $863 million, the Business Journal of Milwaukee reported.
-
Amcore Reports $156M Loss for Quarter
Posted on October 27th, 2009 No commentsThe holding company for Amcore Bank, which has sold off several of its Wisconsin branches after regulators told it to raise capital, reported a net loss for the third quarter of $156.4 million, or $6.81 per share, the Business Journal reported.
-
U.S. Bancorp Posts 3rd Quarter Earnings
Posted on October 27th, 2009 No commentsU.S. Bancorp has posted third-quarter net income of $603 million, or 30 cents per share, compared with $576 million, or 32 cents per share, in the same period a year ago. Early in the third quarter, U.S. Bancorp repurchased the 10-year warrant issued to the U.S. Treasury, effectively concluding its participation in the federal Troubled Asset Relief Program (TARP), the Small Business Times of Milwaukee reported.
-
Ahrens Named COO of The PrivateBank
Posted on October 26th, 2009 No commentsC. Brant Ahrens has been named chief operating officer of PrivateBancorp Inc., replacing Jay Williams, who continues as chairman of The PrivateBank Milwaukee. Ahrens joined The PrivateBank, of Chicago, in October 2007 and most recently served as chief strategy and marketing officer, the Milwaukee Business Journal reported.
-
Wisconsin Credit Unions Tout Business Lending
Posted on October 26th, 2009 No comments“If a bank has turned you down for a business loan, don’t give up – contact a credit union,” writes the Wisconsin Credit Union League in a news release posted on WisBusiness.com.
-
Banking Schools at a Crossroads
Posted on October 26th, 2009 No commentsKirby Davidson, president and CEO of the Graduate School of Banking at the University of Wisconsin-Madison, says students talk more about “accountability” these days. Many are being required to submit reports to their CEOs to explain what they’ve learned – and justify the expense. He was one of several banking school leaders interviewed by U.S. Banker. Read the full story.
-
WBA, CBW Issue Release on Bank Closing
Posted on October 26th, 2009 No comments“The entire Wisconsin banking community is pleased that the banking regulatory system worked as designed last Friday when the Department of Financial Institutions closed Bank of Elmwood, Racine. Importantly, depositors were protected as there was a seamless transition to Tri City National Bank of Oak Creek. Wisconsin’s banking community expresses its support to the affected employees, directors and shareholders of the Bank of Elmwood,” reads a joint news release from the Wisconsin Bankers Association and the Community Bankers of Wisconsin on WisBusiness.com.
-
Carl Axness Named Banker of the Year
Posted on October 25th, 2009 No commentsCommunity Bankers of Wisconsin named Carl M. Axness, chairman of the Union Bank of Blair, as Community Banker of the Year. The group also gave Lifetime Service Awards to Gary De Master, president and chairman at Oostburg State Bank; Arlene White, assistant cashier at Walworth State Bank; and Charlene DeHaan, personal banker at Walworth State Bank, the Milwaukee Journal Sentinel reported.
-
Wauwatosa Bank Dealing With Shaky Loans
Posted on October 25th, 2009 No commentsThe former neighborhood savings and loan Wauwatosa Savings Bank – now Waterstone Bank – and its shareholders are paying a steep price for lending described as “out-of-character.” Waterstone Financial Inc., the bank’s parent company, lost $26.4 million last year, and its stock is worth less than half its 2005 offering price. Read more in the Milwaukee Journal Sentinel.
-
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.