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Wisconsin Businesses Optimistic for Year Ahead
Posted on December 22nd, 2009 No commentsBusinesses in Milwaukee and Waukesha counties are optimistic about 2010, according to a new report released by First Business Bank. The report indicated 65 percent of 566 businesses in the two counties expect to do better in 2010. Read the story in the Small Business Times of Milwaukee or listen to a podcast from a panel discussion about the survey.
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Net Income at Wisconsin CUs Down Nearly 30%
Posted on December 22nd, 2009 No commentsNet income at Wisconsin credit unions was down about 28.5 percent through the first nine months of 2009 as deposit insurance premiums cut into earnings and more money went to loan loss reserves. At the same time, deposits are up 12 percent and lending rose 5 percent, according to the state Office of Credit Unions. Read more in the Milwaukee Journal Sentinel.
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Closing of Illinois Bankers’ Bank is a First
Posted on December 19th, 2009 No commentsIndependent Bankers’ Bank in Illinois, which the FDIC shut down on Dec. 18, is the only bankers’ bank to be closed since the first institution of its kind was established in 1975. The regulatory action leaves Bankers’ Bank of Madison “in the best position to pick up the business of community bankers who will be looking for a new correspondent,” writes Tom Bengtson in the NorthWestern Financial Review blog.
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New Dairy Farmer Assistance Approved
Posted on December 18th, 2009 No commentsWisconsin’s 13,000 dairy farmers will receive an estimated $57 million in assistance, or about $4,500 for the average size dairy farm in Wisconsin, before the end of the year through the Dairy Economic Loss Assistance Payment program. Read more in the Business Journal of Milwaukee.
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Amcore Reaches Agreement With Lender
Posted on December 18th, 2009 No commentsRockford, Ill.-based Amcore Financial, parent of Amcore Bank, announced an agreement with its lender, JP Morgan Chase Bank, on a $20 million loan, the Wisconsin State Journal reported.
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Business Owners Take Aim at Interchange Fees
Posted on December 17th, 2009 No commentsSeveral Madison-area business owners met with local media to talk about the impact of credit card “interchange fees” on small business, which they say squeezes retailer and raises consumer prices. But Mike Semmann of the Wisconsin Bankers Association says benefits of accepting electronic payments come at a cost, just like any other cost of doing business. Read the Cap Times article.
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Wisconsin Not in Step With Roth IRA Shift
Posted on December 15th, 2009 No commentsNew federal guidelines that go into effect in 2010 will allow people with an adjusted gross income of $100,000 or more a year to convert money from a traditional retirement account to a Roth IRA. Wisconsin law has not yet been changed to reflect the federal shift, and it’s not likely the Legislature will take that issue up until 2010 at the earliest, the Green Bay Press Gazette reported.
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At 125 Years, Bank of Milton Going Strong
Posted on December 15th, 2009 No commentsBank of Milton is doing better than ever as it celebrates its 125th anniversary this month, President Dan Honold said. Assets have grown 13 percent this year and deposits have grown 15 percent, according to a story in the Janesville Gazette.
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Business Survey Reflects Optimism
Posted on December 15th, 2009 No commentsA majority of business owners are optimistic about 2010, according results of a survey released by First Business Bank at the invitation-only First Business Economic Forum. Read more at WisBusiness.com.
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Wells Fargo Raising $10.4B to Repay TARP
Posted on December 15th, 2009 No commentsWells Fargo & Co. will repay the government’s entire $25 billion TARP investment after it raises $10.4 billion in a stock offering, the Business Journal of Milwaukee reported.