New CEO Named at Thrivent

1/20/10
Effective Feb. 1, Brad Hewitt will become the new CEO of Thrivent Financial, based in Appleton, Wis. The former chief operating officer replaces Bruce Nicholson, who retires Feb. 1 after 27 years of service to the company, according to a Thrivent news release.

https://www.thrivent.com/newceo/

Wells Fargo Touts Confidence in Customers

Breaking from the cautious, even downbeat forecasts of rivals like JPMorgan Chase & Co., Wells Fargo used words like “favorable” and “confidence” about its future amid tentative signs that its loan defaults are close to a peak or already have peaked. But banking analysts say that ongoing problems could still hold back recovery, according to the Milwaukee Journal Sentinel.

U.S. Bancorp Ends Year With Record Revenues

U.S. Bancorp reported fourth quarter net income of $602 million, or 30 cents per share, up from $330 million, or 15 cents per share, in the same period a year ago.
The Minneapolis-based parent company of U.S. Bank said its most recent quarter’s growth was the result of strong year-over-year growth in both net interest income and fee revenue. Read more in the Milwaukee Small Business Times.

M&I Loses $858M in 2009

Marshall & Ilsley Corp. reported a fourth quarter net loss of $259.5 million, or 54 cents per share, which capped a fiscal year in which it lost $858.8 million, or $2.46 per share, representing an improvement over the bank’s 2008 performance. Read the Milwaukee Small Business Times article.

Bank Employee Charged With Embezzling

Kenneth Hamberger, 47, a 15-year employee of Citizens Community Federal Bank, is charged with stealing about $22,000 from the institution over two years, according to WEAU-TV Channel 13 in Eau Claire.