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Hogan at Home at Cross Plains Bank
Posted on January 30th, 2010 No commentsOn Jan. 1, Jan Patrick Hogan became president and chief executive officer of the State Bank of Cross Plains in the village of 3,500 where Hogan grew up, about 15 miles west of Madison. He is only the seventh president of the bank in its 102-year history. Read his Executive Q&A in the Wisconsin State Journal.
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Portrait of a Dane County Foreclosure
Posted on January 30th, 2010 No commentsBill Schroeder of Lodi, Wis., is one of a growing number of homeowners facing foreclosure in the Madison area. The number of new foreclosure filings in Dane County has more than quadrupled since 2004, and experts expect more pain in the next few years, the Wisconsin State Journal reports.
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New Credit Card Rules to Take Effect
Posted on January 30th, 2010 No commentsEffective Feb. 22, credit card bills will show consumers how long it will take and what it truly will cost to pay off their balance if they only make minimum monthly payments, the Milwaukee Journal Sentinel explained.
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Kenosha Bank Signs Regulatory Agreement
Posted on January 29th, 2010 No commentsUnder an agreement with the FDIC, Banks of Wisconsin in Kenosha (the former Bank of Kenosha) must raise capital levels, improve its loan portfolio and take steps to boost earnings, the Milwaukee Journal Sentinel reported.
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Falbo Named CEO of Nebraska Bank
Posted on January 29th, 2010 No commentsFormer Associated Bank and State Financial Services executive Michael Falbo has been named chairman and CEO of TierOne Corp. in Lincoln, Neb., the Milwaukee Business Journal reported.
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Editorial: Impose Fees on Big Banks
Posted on January 28th, 2010 No commentsPresident Obama’s proposed Financial Crisis Responsibility Fee, which would tax about 50 of the nation’s biggest banks $9 billion a year over a decade, is “sound economic policy, because it will discourage bad behavior by those who were guilty of atrocious judgment in the years leading up to the collapse of the credit system,” the Milwaukee Journal Sentinel writes in an editiorial.
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Milwaukee Area Home Prices Drop 7.7% in ’09
Posted on January 28th, 2010 No commentsAverage home prices in the Milwaukee area fell by 7.7 percent in 2009 and are expected to decline another 3.4 percent this year, the Fiserv Case Shiller Indexes show. Read more in the Milwaukee Journal Sentinel.
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Northwestern Mutual Pays 2nd Highest Dividend
Posted on January 28th, 2010 No commentsNorthwestern Mutual Life Insurance Co. said it will pay $4.7 billion in dividends to policy owners this year, even as the company’s net income fell 33.5 percent to $321 million from $483 million in 2008. The company said 2,340 new full-time financial representatives joined its network in 2009, up 12 percent from 2008. Read more in the Milwaukee Journal Sentinel.
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State Fines Guaranty Bank’s Insurer
Posted on January 26th, 2010 No commentsWisconsin’s insurance commissioner fined Evanston Insurance Co., of Deerfield, Ill., $100,000, concluding the insurer was not authorized in Wisconsin to sell mortgage guaranty insurance – a move that Brown Deer, Wis.-based Guaranty Bank says entitles the bank to relief from big premiums that are draining earnings. Read the Milwaukee Journal Sentinel article.
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Mortgage Insurer Posts 10th Quarterly Loss
Posted on January 26th, 2010 No commentsAlthough Milwaukee-based mortgage insurer MGIC Investment Corp. posted its 10th consecutive quarterly loss, the mortgage insurer’s stock price rose almost 10 percent the same day, according to the Milwaukee Journal Sentinel.