$500K Unclaimed in Wisconsin WaMu Accounts

When the FDIC closed Washington Mutual Bank two years ago, it deposited about $500,000 in Wisconsin’s unclaimed property account. The state treasurer’s office reports there are about 8,300 accounts belonging to Wisconsin customers – much of it still unclaimed, according to WTAQ 1360 AM.

Developer Sues M&I Over Agreement

Subdivision developer Simon Group is suing M&I Bank over an agreement reached earlier this year that allowed the bank to take back several undeveloped properties to settle 15 foreclosure cases. In the suit, Simon Group alleges that M&I did not follow the conditions of the agreement, according to the Business Journal of Milwaukee.

Bank Alerts Union; Embezzlement Discovered

A former union official from Milwaukee has agreed to plead guilty to embezzling about $180,000 of union funds, according to federal court records. Paula Dorsey, former president of District Council 48 of the American Federation of State, County and Municipal Employees, came forward to federal prosecutors after Associated Bank in Milwaukee contacted her to inquire about large withdrawals from a union account that were then deposited into her personal account, the Milwaukee Journal Sentinel reported.

Bank Examiner Scams Reported

Recently the Janesville Police Department has taken reports of scams involving individuals calling elderly females and claiming to be bank examiners/investigators. In one instance, the suspect claimed to be a bank employee investigating a teller who was suspected of stealing funds from the victim’s account. Another time, a suspect called the victim and identified himself as a detective investigating personnel at the victim’s bank for stealing money. He told the victim he was going to mark the bills that she would later withdraw. Read more from NBC Channel 15.

Cassville Bank Must Raise $5M

For the third time in just over a year, Badger State Bank in Cassville is under FDIC orders to boost its financial reserves by about $5 million within an unspecified timeframe. The bank’s problems stem from loans involving failed real estate developments in California, Arizona and Florida, the Wisconsin State Journal reported. The FDIC also levied civil penalties against two other southern Wisconsin banks.

Few Homebuyers Despite Historic Low Rates

Teller Honored for 45 Years of Service

Hazel Loppnow, a teller at Associated Bank in De Pere, celebrated 45 years of working at the bank branch with a surprise party that included colleagues, family members and a visit from Associated President and CEO Phil Flynn. Read the Green Bay Press Gazette article.

Harris to Close 16 Amcore Branches

Harris Bank says it will close 16 of the Amcore Bank branches the company took over in April, including one in Madison on the Capitol Square. A branch in Waukesha is the only other Wisconsin location affected. The closings will take effect Sept. 17, the Wisconsin State Journal reported.

Armed Robber Sentenced to 70 Months

Steven Willard, 19, from Price County, Wis., has been sentenced to 70 months in prison for his role in the robbery of Dairyland State Bank in Exeland last fall. Investigators say Willard and and Robert McCallie, 22, robbed the Dairyland State Bank at gunpoint, leading to a deadly shootout with police where another suspect, Rudolph Frenzer, 50, was killed, WEAU Channel 13 in Eau Claire reported.

Bank Neighbor Helps Nab Robber

An Elkhart Lake man whose home surveillance footage helped capture a bank robber received a $2,500 reward from the village board. National Exchange Bank & Trust was robbed at gunpoint on April 1, and footage captured by the man showed a black Chrysler 300 in the area six times on March 31 and April 1, the Elkhart Lake police chief said in the Sheboygan Press.