Wisconsin Banking Update
Providing banking news in Wisconsin that Wisconsin Bankers can use. Keep on top of all the banking issues that are affecting Wisconsin in one place. If you would like to receive these updates by email please subscribe by entering your email address on the right. There is no cost and no obligation.
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Flynn Leads Associated Out of Slump
Posted on December 25th, 2011 No commentsWhen Philip B. Flynn became chief executive of the parent company of Associated Bank last December, Associated Banc-Corp’s loan portfolio was ailing and the company was headed toward a losing quarter. The company’s stock price was down 45% for the year. But a year later, Associated appears to have emerged from its slump. Read more in the Milwaukee Journal Sentinel. -
Manitowoc Banker Paul Benz Dies
Posted on February 27th, 2011 No commentsPaul H. Benz, 71, of Two Rivers, died Feb. 25, 2011. He had worked for Bank First National until his retirement in 2009. Read the full obituary in the Green Bay Press Gazette. -
Social Security Scam Reported
Posted on February 27th, 2011 No commentsThe local Social Security office has informed the Manitowoc County Aging & Disability Resource Center of a phone scam targeting Social Security and SSI recipients, according to the Manitowoc Herald Times Reporter. -
‘Think Like a Banker’ in Foreclosure
Posted on February 27th, 2011 No comments“Don’t give up your home without a ‘good’ fight. We don’t mean tearing the house apart or suing the bank. We mean an intelligent battle during which you make the best financial decisions for your future,” writes Mark Balaban of the Manitowoc County Board of Realtors in a Manitowoc Herald Times Reporter column. -
14% of Wis. Home Sales Were Foreclosures
Posted on February 25th, 2011 No commentsNearly 14 percent of all homes sold in Wisconsin last year were foreclosure properties, and they tended to sell for about 35 percent less than non-foreclosed homes, according to RealtyTrac. Nationally in 2010, about 26 percents of all U.S. residential sales were foreclosure deals and the average discount was 28 percent. Read the Milwaukee Journal Sentinel article. -
Madison Gets Economic Development Grant
Posted on February 25th, 2011 No commentsThrive, the Madison region economic development organization, is getting a $97,500 grant from the U.S. Economic Development Administration. The grant will help Thrive create a comprehensive economic development strategy, according to the Wisconsin State Journal. -
Bank-Owned Properties ‘Overrun Market’
Posted on February 25th, 2011 No commentsThere were 1,117 foreclosures cases in Adams, Columbia, Sauk and Juneau counties in 2010. “At one time, foreclosures were nearly unheard of in the area, local realtors say. But now, the glut of bank-owned properties, or REOs, have overrun the market – and may continue to do so for several more years,” according to the Wisconsin Dells Events. -
Bank Mutual SVP Leaving Job
Posted on February 25th, 2011 No commentsChristopher Callen will leave his position as senior vice president of lending at Bank Mutual for unspecified reasons. Bank Mutual disclosed in a regulatory filing Thursday that Callen, who has been an executive officer with Bank Mutual Corp. since 1998, will leave his position on March 18, the Business Journal reported. -
One in Five Wis. Banks Ends Year With Loss
Posted on February 25th, 2011 No commentsFifty-six Wisconsin banks — or one of every five — ended 2010 with a loss, according to new FDIC figures. In 2009, 73 banks, or 26 percent, reported a net loss for the year. M&I Marshall & Ilsley Bank had the biggest net loss, at $503.3 million, in 2010, followed by Johnson Bank, Racine, $135.3 million, and Bank Mutual, Brown Deer, $72.2 million, the Wisconsin State Journal reported. -
Thrivent Grows Core Businesses by 10%
Posted on February 24th, 2011 No commentsThrivent Financial’s core businesses of life and health insurance and annuity sales grew by 10.1 percent in 2010, according to the company. The not-for-profit membership organization, which is headquartered in Minneapolis and has a large presence in Appleton, characterized its annual financial results as “strong” and noted that eligible members will receive an estimated $304 million in dividends this year, the Milwaukee Journal Sentinel reported.