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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Analyst Compares NFL Teams, Banks
Posted on January 6th, 2011 No commentsIf Green Bay-based Associated Bank were an NFL team, it would beat the bank from the hometown of the Philadelphia Eagles. That is the analysis of Philip van Doorn, a member of TheStreet’s banking and finance team. He posted a piece on TheStreet.com handicapping this weekend’s NFL playoffs based on hometown banks of all the teams playing in the games. Read more in the Milwaukee BizTalk blog. -
NE Wis. Banks Fare Better Than Others
Posted on December 28th, 2010 No commentsBanks in Northeastern Wisconsin continued working to get a handle on their balance sheets, but, as with manufacturing, the area suffered less than other regions, the Green Bay Press-Gazette wrote in an economic year-in-review article. -
Legacy Bank Still Struggling
Posted on December 28th, 2010 No commentsMilwaukee’s Legacy Bank received $5.5 million in government investment in early 2009. The bank lost more than $6 million this year and more than $15 million in 2009. “It looks like the bank bailout for the small guys failed and the American public doesn’t have the stomach for another bailout. I know I don’t,” writes Milwaukee Journal Sentinel blogger James Causey. -
Bank Mutual Restructures Balance Sheet
Posted on December 20th, 2010 No commentsMilwaukee-based Bank Mutual Corp. announced that its board of directors has approved a balance sheet restructuring as part of an overall strategy to strengthen the company going forward. Read more in the Small Business Times. -
M&I Announces Acquisition by BMO
Posted on December 17th, 2010 No commentsAfter two years in the red and facing a still-bumpy road back to profitability, Marshall & Ilsley Corp. announced its acquisition by the Canadian parent company of Harris Bank, a move that should invigorate the wounded M&I franchise but will cost Milwaukee a corporate headquarters. The all-stock deal is valued at $4.1 billion. Read more in the Milwaukee Journal Sentinel, the Small Business Times and The Business Journal. -
AnchorBanCorp Stock Rising
Posted on December 7th, 2010 No commentsBeleaguered but improving Anchor BanCorp Wisconsin Inc.’s stock has risen 60 percent since Dec. 1 — off a super-low base — and volume the past two days is running 10 times or more the bank holding company’s usual tepid trading. The stock closed at $1.30 on December 6, according to an article in The Business Journal of Milwaukee. -
‘Problem Banks’ List Grows to 860
Posted on November 23rd, 2010 No commentsThe Federal Deposit Insurance Commission said its list of “problem banks” – those with the highest risk of failing – has grown to 860 from 829, or nearly one in nine lenders. Most are small community banks that remain saddled by bad real estate loans, according to the Small Business Times of Milwaukee. -
‘The Worst is Probably Over’ for Banks
Posted on November 23rd, 2010 No commentsAbout one in five Wisconsin banks lost money in the third quarter, evidence the worst probably is over for the great majority of the state’s banks, analysts said. As a group, Wisconsin-chartered banks lost a combined $74.3 million in the quarter, compared with a loss of $280.2 million in the third quarter of last year, the Milwaukee Journal Sentinel reported. -
Fox River State Bank Turning Around
Posted on November 22nd, 2010 No commentsFox River State Bank in Burlington has begun to turn itself around. The process was under way by August 2009, when the bank brought in a new president and CEO, Keith Pollek. That December the bank issued new shares of bank stock which raised $3.4 million, Pollek said. The bank used $2 million of the newly raised cash to write off defaulted loans. Through October of this year, Fox River had a net profit of $261,000. Read the story in the Racine Journal Times. -
Anchor Bank Reports 3rd Largest Profit
Posted on November 22nd, 2010 No commentsMadison’s Anchor Bank had the third largest profit of nearly 280 financial institutions in Wisconsin, as of the end of the third quarter, Sept. 30. AnchorBank listed earnings of $4.1 million, up from a $66.6 million net loss for the year-ago quarter, the Wisconsin State Journal reported.