Wisconsin Banking Update
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CIB Marine Loses $10.3M in Q2
Posted on August 7th, 2009 1 commentPewaukee-based CIB Marine Bancshares Inc., the parent company of Marine Bank, lost $10.3 million in the second quarter as it continued to wrestle with its corporate debt and loan losses, the Milwaukee Journal Sentinel reported. CIB Marine is seeking investor approval of a bankruptcy court reorganization.
One response to “CIB Marine Loses $10.3M in Q2”
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It is not surprising that a bank where Maggie Incandela was Chief Credit Officer should declare bankruptcy. There seems to be a consistent pattern of extremely poor credit quality leading to failure or near failure at every bank she has been with. Surely this cannot be a coincidence. When will people finally wake up to the game?
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