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Decline in Loan Balances Not Surprising to Banks
Posted on November 30th, 2009 No commentsLoan balances at the nation’s banks declined 2.8 percent from the end of the second quarter 2009 to the end of the third, the largest quarterly decline on record, according to FDIC statistics. Rick Bastian, president and CEO of Blackhawk State Bank, based in Beloit, Wis., said he was surprised lending levels hadn’t fallen even more. He said Blackhawk has been working with many of its manufacturing customers not on new loans but helping them from defaulting on old ones. Read the story in the Holland Sentinel.
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Democrats Propose New Tax Credits, Micro Loans
Posted on November 29th, 2009 No commentsSenate Democrats plan to hold hearings soon on the Wisconsin C.O.R.E. Jobs Act, a proposed $15 million package that would grant more angel investing tax credits and start a $500,000 micro-loan program to provide loans of $1,000 to $25,000 to new small businesses in areas of high unemployment, among other measures. Read more in the Milwaukee Journal Sentinel.
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M&I Getting Rid of Bad Loans
Posted on November 28th, 2009 No commentsMarshall & Ilsley Corp. is taking what some analysts see as an aggressive approach to ridding itself of real estate loans that have turned sour, particularly in its hard-hit Arizona market, the Milwaukee Journal Sentinel reports.
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Opinion: Card Fees Hard on Wis. Businesses
Posted on November 28th, 2009 No comments“Many Wisconsin legislators and residents have recently pondered why so many of the state’s businesses were closing up shop. We can suggest one thing that certainly isn’t helping businesses keep the doors open and the lights on: credit card transaction fees,” writes a group of several retailer trade associations in the Milwaukee Journal Sentinel.
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WaterStone Bank Formalizes Consent Order
Posted on November 27th, 2009 No commentsWaterStone Bank, a Wauwatosa, Wis., mortgage lender, has agreed to a consent order giving government regulators significant oversight of its affairs. WaterStone already complies fully with the order, which formalizes a November 2008 agreement between the bank and regulators, CEO Doug Gordon said in the Milwaukee Journal Sentinel.
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Farrar Joins Associated After 25 Years at M&I
Posted on November 27th, 2009 No commentsWilliam Farrar, who was with Marshall & Ilsley Bank for 25 years, most recently as vice president of business development in the business credit division, has joined Associated Bank’s asset-based commercial finance unit, the Milwaukee Business Journal reported.
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Southport Under Voluntary FDIC Agreement
Posted on November 27th, 2009 No commentsSouthport Bank of Kenosha, Wis., said it has entered a voluntary agreement with the Federal Deposit Insurance Corp. to take actions to strengthen its lending processes, raise capital and improve its loan documentation. The Southport Bank management and board is in the process of raising additional capital, said Jerry Schwallier, president and CEO since June. Read more in the Milwaukee Business Journal.
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Spring Bank Moves into New Building in Brookfield
Posted on November 25th, 2009 No commentsSpring Bank has moved into its new Brookfield, Wis., building, more than doubling its office space since it opened in August 2008. “We’re growing faster than anticipated,” Spring Bank President and CEO David Schuelke said. The bank also announced that Ken J. Madison has joined the bank as senior commercial credit analyst. Read the full news release in Brookfield Now.
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U.S. Bank to Sell Three Texas Banks
Posted on November 25th, 2009 No commentsMinneapolis-based U.S. Bank plans to sell three Texas banks that have five branches and $701 million in assets, which were acquired along with six other banks in California, Illinois and Arizona, the Business Journal reported.
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S&P Lowers Associated’s Credit Rating
Posted on November 25th, 2009 No commentsStandard & Poor’s Ratings Services, citing concerns with Green Bay, Wis.-based Associated Banc-Corp.’s loan portfolio, downgraded its counterparty credit ratings on Associated Banc-Corp. and lowered counterparty credit ratings on Associated Bank N.A., according to the Milwaukee Business Journal.