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M&I Tenders Total $433M
Posted on December 15th, 2009 No commentsM&I Marshall & Ilsley Bank said it has received tenders of debt securities totaling $433.1 million in response to its offer to purchase for cash debt securities with an aggregate principal of up to $400 million, the Business Journal of Milwaukee reported.
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‘Too Big to Fail’ Best Business Book of ’09
Posted on December 15th, 2009 No comments“Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System — And Themselves” by Andrew Ross Sorkin has been named the best business book of 2009 by Milwaukee-based 800-CEO-READ, according to the Business Journal of Milwaukee. Read more about the book on the 800-CEO-READ blog.
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M&I Arizona Region President to Retire
Posted on December 14th, 2009 No commentsDennis Jones, who has overseen M&I Bank’s rapid growth in Arizona and, more recently, its troubled real estate loan portfolio, will retire on March 1, 2010. Steve Johnson, a 20-year veteran at M&I Bank who manages regional retail banking in Arizona, will succeed Jones as president, according to the Business Journal of Milwaukee.
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Anchor Gets Notification from NASDAQ
Posted on December 10th, 2009 No commentsWith the stock of Anchor BanCorp Wisconsin Inc. trading for less than $1 since Oct. 21, the Madison-based bank holding company faces possible future delisting by the Nasdaq Stock Market, the Business Journal of Milwaukee reported.
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Milwaukee Home Sales 75% Higher Than Year Ago
Posted on December 10th, 2009 No commentsMilwaukee-area home sales were up 75 percent in November compared with November 2008, an increase attributed to the first-time homebuyers’ tax credit that was set to expire. Read more in the Milwaukee Journal Sentinel.
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Modest Home Price Increases Predicted
Posted on December 10th, 2009 No commentsThe chief economist for the National Association of Realtors expects “modest” price increases for homes by the middle of next year, and buyers who have been holding off may be lured by the extension of federal tax credits, according to a story in the Milwaukee Journal Sentinel.
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Maritime Savings Names New CEO
Posted on December 10th, 2009 No commentsPeter J. Bildsten has been hired as the new CEO of West Allis, Wis.-based Maritime Savings Bank. He takes over the role from Matthew J. Olsen, who has been chief executive since April and will continue to act as president of the bank. Bildsten is the past chairman and CEO of First National Bank and Trust Co. of Baraboo and most recently served as Wells Fargo market president in Madison, the Milwaukee Journal Sentinel reported.
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Treasury Extends TARP
Posted on December 9th, 2009 No commentsThe U.S. Treasury Department is extending the Troubled Asset Relief Program through Oct. 3, 2010, but doesn’t expect to deploy more than $550 billion of the $700 billion allocated for the program. Treasury also anticipates up to $175 billion in TARP repayments by the end of next year. Read more in the Milwaukee Business Journal.
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Wisconsin Ranks High on Auto Loan Scores
Posted on December 9th, 2009 No commentsWisconsin ranked second in the nation in its average credit score for new car loans, with 796, trailing only Minnesota (804). Wisconsin ranked first in the nation in average credit score for used vehicle loans, with 733, according to a quarterly analysis of automotive credit by Experian Automotive. Read more in the Small Business Times of Milwaukee.
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State Waives Restrictions on Mortgage Insurer
Posted on December 9th, 2009 No commentsMilwaukee-based MGIC Investment Corp.’s principal subsidiary Mortgage Guaranty Insurance Corp. announced that the state’s Office of the Commissioner of Insurance has waived, until Dec. 31, 2011, the requirement that MGIC maintain a specific level of minimum regulatory capital to write new mortgage guaranty policies. Read more in the Small Business Times of Milwaukee.