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. -
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. -
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. -
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. -
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. -
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. -
Associated, Baylake Execs Optimistic
Posted on February 13th, 2011 No commentsTwo 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. -
Monona State Income Up Slightly
Posted on February 10th, 2011 No commentsMonona 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. -
Thrivent to Distribute $304M in Dividends
Posted on February 10th, 2011 No commentsThrivent 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.