Northern Trust Economic Trends Breakfast Planned

The Northern Trust Economic Trends Breakfast on Friday, Jan. 22, at the Italian Community Center in Milwaukee, will provide insights and forecasts for the year ahead. Speakers include Michael Knetter, dean of the University of Wisconsin-Madison School of Business, U.S. Rep. Paul Ryan, and Actuant Corp. CEO Bob Arzbaecher. Find out more in the Small Business Times.

CIB Marine Posts Higher Loss for Q3

Pewaukee, Wis.-based CIB Marine recorded a net loss of $13.9 million, or 77 cents per share, for the third quarter, compared with a net loss of $11.2 million, or 61 cents, a year earlier, the Business Journal of Milwaukee reported.

Chase CEO: No Bank is ‘Too Big To Fail’

Major banks shouldn’t be considered “too big to fail” — regulators should have the power to close even the largest institutions, says JPMorgan Chase & Co. CEO Jamie Dimon. Read the Business Journal article.

Anchor Loses $3.56 Per Share in Q2

Anchor BanCorp Wisconsin Inc., of Madison, lost $3.56 per share in the second quarter, compared with a loss of $23.3 million, or $1.11 per share, in the same period in 2008, the Milwaukee Journal Sentinel reported.

New Rule for Overdraft Fees Takes Effect June 1

Banks will have to secure their customers’ consent before charging large overdraft fees on ATM and debit card transactions, according to a new rule announced by the Federal Reserve, the Wisconsin State Journal reported.

Chase Hiring, Increasing Business Lending by $4B

JPMorgan Chase announced plans to hire 1,200 mortgage loan officers by the end of 2010 to help customers finance home purchases or reduce their monthly payments through refinances, the Business Journal of Milwaukee reported.

In a separate article, JP Morgan Chase announced it will increase business lending by $4 billion, raising the bank’s total new lending to $10 billion.

Tax Credit Increases Milwaukee Home Sales

Fueled by a tax credit for first-time buyers, sales of existing homes in the metro Milwaukee area soared 33.9% in October compared with the same month last year. It was the fifth consecutive month that home sales have risen from the same month in 2008, the Milwaukee Journal Sentinel reported.

Regulators Reject Amcore Plan

Federal regulators have rejected Amcore Financial’s plans to strengthen its finances and have given the Rockford bank one month to raise money or prepare to merge or be sold, the Wisconsin State Journal reported.

Anchor Requests More Time for Financials

Anchor BanCorp Wisconsin asked for five more days to file its financial report for the quarter ending Sept. 30. Declines in real estate values have made the calculations more difficult, Anchor said in the filing, the Wisconsin State Journal reported.

Associated Must Improve Risk Management, Capital

Associated Banc-Corp revealed details of a memorandum of understanding in a regulatory filing in a Milwaukee Journal Sentinel article. Associated Bank will be required to improve risk management of its loan portfolio and maintain capital at higher-than-normal levels. Shares of Associated dropped more than 14 percent the day after the news was released, making it likely the bank’s quarterly dividend will be cut from 5 cents to 1 cent per share. Read that article in the Journal Sentinel.