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Posted on February 13th, 2011
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Two Green Bay-area banks are looking forward to returning to prosperity. “We are hugely liquid. We’ve fixed the problems largely, and now we need to grow the company,” said Philip Flynn, president and CEO of Associated Bank. “There still are challenges out there, but not as many,” said Robert Cera, president and CEO of Baylake Bank.” Read more about their strategies in the Green Bay Press-Gazette.
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Posted on February 12th, 2011
editor
Regulators closed Badger State Bank in Cassville, on Feb. 12. It is the second southern Wisconsin bank to fail this year. The 101-year-old bank’s single branch, about 100 miles southwest of Madison, reopens as part of Royal Bank, Elroy. Read more in the Wisconsin State Journal and the Milwaukee Journal Sentinel.
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Posted on February 11th, 2011
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Posted on February 11th, 2011
editor
Many members of metropolitan Milwaukee’s financial community reacted with uncharacteristic outrage to the recent disclosure that Marshall & Ilsley Corp. executives will receive a combined $70 million in “golden parachute” payments when the bank is sold to BMO Financial, the Business Journal reported.
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Posted on February 11th, 2011
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Koss Corp. is now suing Park Bank in Milwaukee, plus other banks, an audit firm and a credit card company for failing to detect a chunk of former Koss executive Sujata Sachdeva’s $34 million embezzlement, according to The Business Journal of Milwaukee.
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Posted on February 11th, 2011
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Greg and Heidi Kolton have resigned as chief executive officer/president and chief operating officer/executive vice president, respectively, of financially troubled Foundations Bank in Pewaukee and its holding company, Generations Bancorp Inc., effective immediately. The Koltons remain shareholders of the bank they formed in 2005, according to the Small Business Times.
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Posted on February 10th, 2011
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Tim Kotnour has been promoted to senior vice president, business segment leader in commercial banking at Associated Bank. He is responsible for leading Associated’s Wisconsin western region commercial banking group, which includes Madison, La Crosse, Eau Claire and Rockford, Ill., the Wisconsin State Journal reported.
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Posted on February 10th, 2011
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Monona State Bank reported net income of $1.8 million for 2010, up slightly from $1.7 million in 2009, with assets of $335 million, compared to $347 million as of Dec. 31, 2009, the Wisconsin State Journal reported.
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Posted on February 10th, 2011
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An agency of the Department of Defense will honor Michael DeBay of Associated Bank with a Patriot Award for his support of employee Keith Haselton, who serves in the United States Air Force Reserve, according to WSAW.com.
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Posted on February 10th, 2011
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Thrivent Financial for Lutherans will distribute $304 million in dividends this year to eligible members. The 2011 dividend payout is about 4 percent less than in 2010, but marks the fourth consecutive year with dividends topping $300 million, the Milwaukee Journal Sentinel reported.
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