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Wells Fargo Names New Wisconsin Leader
Posted on November 9th, 2009 No commentsLisa Johnson has been named regional head for commercial banking in Illinois and southeast Wisconsin for Wells Fargo & Co. Johnson has a 26-year career in commercial banking and previously led Wells Fargo Business Credit’s central region. Read the Business Journal article.
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Loss Narrows in Q3 for WaterStone Bank
Posted on November 9th, 2009 No commentsWauwatosa, Wis.-based WaterStone Bank recorded a net loss of $3.6 million, or 12 cents per share, for the period ending Sept. 30, compared with a net loss of $28.2 million, or 92 cents a share, a year earlier, the Business Journal of Milwaukee reported.
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Fed Refilling Fiscal Prescription
Posted on November 8th, 2009 No commentsWith no major side effects showing up – yet – from the government’s potent mix of monetary and fiscal medicines, the Federal Reserve last week essentially refilled the prescription for at least another six months, writes Tom Saler in his Milwaukee Journal Sentinel column.
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Anchor Bank Holding On Despite Losses
Posted on November 6th, 2009 No commentsAfter an impressive decade of growth built on a soaring real estate development market, Anchor BancCorp. Wisconsin — which counts 74 branches statewide and nearly 1,000 employees — posted a $228.3 million loss for the fiscal year ending March 31 after several large commercial loans went bust. “One question locally is whether Madison’s largest financial institution can dig itself out of a deep hole,” The Capital Times wrote.
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New, and Extended, Tax Credits for Homebuyers
Posted on November 5th, 2009 No commentsCongress extended the first-time homebuyers credit of $8,000 and added a tax credit of $6,500 for existing homeowners who are moving. The income limits for both credits are The income limits for both credits will be $125,000 for singles and $225,000 for joint filers. Read the Milwaukee Journal Sentinel article.
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Bank Mutual to Repurchase 1M Shares
Posted on November 4th, 2009 No commentsBank Mutual Corp. of Brown Deer, Wis., said that its board has approved the repurchase of 1 million more shares of the company’s common stock, or about 2.2 percent of the bank’s outstanding shares, according to the Business Journal of Milwaukee.
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Foreclosures Keep Rising Amid Layoffs
Posted on November 4th, 2009 No commentsForeclosures through the end of October already have topped the record for last year, driven more now by job loss than subprime mortage defaults. The experts say the foreclosures aren’t likely to slow down until companies begin hiring again, the Milwaukee Journal Sentinel reported.
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U.S. Bancorp Opting Out of TAGP
Posted on November 3rd, 2009 No commentsU.S. Bancorp said its finances are strong enough that it will opt out of the six-month extension of the FDIC’s Transaction Account Guarantee Program, according to an article in the Milwaukee Business Journal.
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Bank Mutual Cuts Dividend; Repurchases Stock
Posted on November 3rd, 2009 No commentsBank Mutual Corp. will pay a quarterly cash dividend of 7 cents per share, 2 cents less than its previous dividend. The Brown Deer, Wis.-based parent company of Bank Mutual banks also announced another stock repurchase program under which the corporation will buy back up to 1 million shares, or about 2.2 percent, of its outstanding shares, the Milwaukee Journal Sentinel reported.
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Lender Profits Rising, Association Says
Posted on November 2nd, 2009 No commentsIndependent mortgage bankers and subsidiaries made an average profit of $1,358 on each loan they originated in the second quarter, according to the Mortgage Bankers Association. That’s up from the first quarter, when profits averaged $1,088 a loan. Read more in the Business Journal of Milwaukee.