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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Communication Critical for M&A Success
Posted on February 18th, 2011 No commentsA study from Thomson Reuters and Freeman Consulting Services concludes “the global market for M&A will surge 36 percent in 2011 to over $3 trillion.” But on the flip side, more than 60 percent of all mergers fail to achieve their financial goals, and 20 percent of them actually reduce the value of the merged company, according to Fast Company. The importance of a good communications strategy is becoming more widely recognized within M&A communities, according to a Small Business Times column. -
UWM Plans Business Conference
Posted on February 18th, 2011 No commentsThe University of Wisconsin-Milwaukee’s Lubar School of Business will present the daylong seminar “2011 Outlook Conference” on March 24, at the UWM Union. Executives from many companies will speak, including Northwestern Mutual, Stark Investments, Robert W. Baird & Co., Mason Wells, J.P. Morgan Chase, Briggs & Stratton, Cleary Gull Inc. and Generac. Read more in the Small Business Times. -
Legacy Bank Still Short on Capital
Posted on February 18th, 2011 No commentsLegacy Bank in Milwaukee saw its capital position worsen in the fourth quarter of 2010. The bank, which was founded by three African American women in 1999, also is one month past a 60-day deadline from the Federal Reserve Bank to develop a plan addressing Legacy’s shortage of capital, The Business Journal reported. -
Associated Expands Into Indiana
Posted on February 18th, 2011 No commentsAssociated Bank is expanding operations to Indiana with a loan production office. Associated Bank has operations in other regional cities including Minneapolis, Chicago, Milwaukee and St. Louis. The bank operates in 281 locations in Wisconsin, Illinois and Minnesota, according to the Green Bay Press-Gazette. -
Anchor Agrees to TARP Oversight
Posted on February 17th, 2011 No commentsAnchor BanCorp Wisconsin is one of more than two dozen banks that have agreed to let U.S. Treasury Department observers attend board meetings after the banks failed to make dividend and interest payments on their Troubled Asset Relief Program debt, Bloomberg reported. Read The Business Journal article. -
Refinancings Boost Blackhawk Profits
Posted on February 17th, 2011 No commentsThe profits of Beloit-based Blackhawk Bancorp Inc. increased 52 percent in the fourth quarter on revenue from mortgage refinancing and an improved net interest margin. The company had net income of $886,000, or 33 cents a share, up from $582,000, or 19 cents, in fourth quarter 2009, the Milwaukee Journal-Sentinel reported. -
Wis. 40th in Mortgage Delinquencies
Posted on February 17th, 2011 No commentsIn the fourth quarter of 2010, 8.93 percent of all mortgages were past due in the U.S. – at least one payment behind but not in foreclosure – compared with 10.44 percent in fourth quarter 2009. Wisconsin ranked 40th in the nation with a delinquency rate of 6.26 percent, down from 7.96 percent in fourth quarter 2009. Figures aren’t seasonally adjusted. Read the Milwaukee Journal Sentinel story. -
Is Associated Raiding M&I Staff?
Posted on February 16th, 2011 No comments“Is Associated Bank raiding M&I Bank’s talent pool as M&I professionals await their fates under new owner BMO Financial?” asks Business Journal Rich Kirchen in the Milwaukee Biz Talk blog. -
Dodd-Frank to Increase Bank M&A
Posted on February 16th, 2011 No commentsLook for more bank mergers and acquisitions in Wisconsin and elsewhere as the Dodd-Frank act takes hold and bank boards try to manage the resulting higher costs and lower fee income, said Sharon Stark, a managing director with Sterne Agee in Birmingham, Ala., at a CFA Society of Milwaukee luncheon. Read more in The Business Journal. -
Income Up for State Bank of Cross Plains
Posted on February 14th, 2011 No commentsThe State Bank of Cross Plains reported $5.3 million in net income with $798.4 million in assets for 2010, up from $3.9 million in net income in 2009 with $721.6 million in assets. Part of the increase was due to the acquisition of Black Earth State Bank last May, the Wisconsin State Journal reported.