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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M&I to Eliminate 143 Positions
Posted on February 23rd, 2011 No commentsMilwaukee-based M&I Bank announced it is eliminating 143 jobs corporate wide, or 1.6 percent of its total workforce. Fifteen of the eliminated positions were based in southeastern Wisconsin. The affected positions ranged from internal support to management-level employees, the Small Business Times reported. -
Tri City National Earnings Down
Posted on February 22nd, 2011 No commentsThe parent company of Tri City National Bank reported a drop of nearly 89 percent in earnings for the fourth quarter, but the comparison with the year-ago quarter was greatly skewed by a gain related to the bank’s acquisition of a failed bank in Racine, according to the Milwaukee Journal Sentinel. -
Small Protest Organized at M&I Branch
Posted on February 22nd, 2011 No commentsSeven people gathered at an M&I bank branch at 5101 Spring St., Racine, to protest Gov. Scott Walker’s budget repair bill. The protesters handed out flyers claiming that bank employees had donated to Walker’s campaign at a time when the bank still had not repaid $1.7 billion in TARP funds. Read the story in the Racine Journal Times. -
Wells Fargo Could Be Nation’s Largest
Posted on February 21st, 2011 No commentsWells Fargo, which holds the sixth-largest deposit market share in the Milwaukee area, now serves one-third of the nation’s households, 10 percent of its small businesses and 70 percent of the Fortune 500 – all reasons why it could someday be the country’s largest bank, according to a Business Journal article. -
Egyptian Banks Reopen After Unrest
Posted on February 20th, 2011 No commentsBanks across Egypt threw open their doors on Sunday, returning to business after an almost weeklong closure mandated by the central bank because of strikes and labor protests that have hampered efforts to reboot the nation’s economy, according to an Associated Press story on the Milwaukee Journal Sentinel web site. -
Banker Urges Latinos to Save for College
Posted on February 20th, 2011 No commentsA new group started by a Boston banker is challenging low-income Latino families to save for college with the promise that their savings will be matched, according to an Associated Press story on Madison.com. -
Kanavas Leads Venture Capital Initiative
Posted on February 19th, 2011 No commentsAt the request of Gov. Scott Walker, former state Sen. Ted Kanavas is taking the lead in developing a venture capital fund for Wisconsin. Saying the creation of such a fund would contribute significantly to Walker’s goal of creating 250,000 jobs, his staff is laying out an aggressive schedule that would have venture dollars being invested in high-potential, entrepreneurial companies by July 1, according to a memo. Read the Milwaukee Journal Sentinel story. -
Inflation Impacts Wis. Manufacturers
Posted on February 19th, 2011 No commentsHaving fought their way through a bruising economic downturn, some businesses in Wisconsin are now facing another fight, this one involving skyrocketing costs for the materials that go into the products they make. The price pressure is a symptom of inflation, and there are several examples of how it’s impacting Wisconsin manufacturers, according to the Milwaukee Journal Sentinel. -
Business Leaders Support Walker’s Proposals
Posted on February 19th, 2011 No commentsWisconsin business leaders support Gov. Scott Walker’s proposals to reduce state worker benefits, even if it means weakening bargaining rights for public trade unions in the process, the Milwaukee Journal Sentinel reported. The state’s biggest pro-business lobby, Wisconsin Manufacturers & Commerce, called Walker’s proposals “modest.” -
Show Pits Guy Against Bank
Posted on February 18th, 2011 No commentsWith the song “The Best Things in Life Are Free” playing, Patrick Combs now makes a living telling the story of how he (almost) got away with cashing a bogus check for $95,000. He’ll be performing his two-hour show “Man 1, Bank 0” at the Ringling Theater. Read the Portage Daily Register story.