-
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. -
‘New Money Won’ in M&I Deal
Posted on December 17th, 2010 No commentsMarshall & Ilsley Corp., Wisconsin’s largest bank holding company, was sold to BMO – the Canadian operator of the Bank of Montreal and Harris Bank – for $4.1 billion in stock, or $7.75 a share. Not a bad price, if you purchased the stock last year for $5.75 a share in one of M&I’s two offerings – but if you’re a longtime shareholder, the sale price doesn’t look so hot. Some say a change in the bank’s lending style was responsible for the dramatic losses that led to the sale. Read the Milwaukee Journal Sentinel article. -
Loan Demand Improves Stock Outlook
Posted on December 12th, 2010 No comments“When investment fund manager Jon Bruss looks at banks, one thing stands out: solid increases in loan demand. It may sound like a flashback to better days, but Bruss says many banks in his portfolio are doing more lending. Recently, four of those banks raised capital because they need more funds to meet the increased demand, he said,” began an article about bank stocks in the Milwaukee Journal Sentinel. -
Commerce State Bank Raises $3M Plus
Posted on August 2nd, 2010 No commentsWest Bend-based Commerce State Bank said it completed its offering of 10-year notes, surpassing its $3 million goal, The Business Journal of Milwaukee reported.
-
Answers Provided to Amcore Shareholders
Posted on April 30th, 2010 No commentsShares of stock in the parent company of Chicago’s Harris Bank have hit near-record levels in the past week, but stockholders of Amcore Financial won’t see the benefits, according to a Q&A on the subject in the Wisconsin State Journal.
-
Fox River State Bank Raises $3.3M
Posted on March 25th, 2010 No commentsFox River State Bank, which in October 2009 received a “cease and desist” order from regulators, has raised more than $3.3 million in a stock offering, according to the Business Journal of Milwaukee.
-
Offer Made for Southport Bank Shares
Posted on February 10th, 2010 No commentsA former Kenosha businessman has offered $8.5 million to buy a controlling interest in Kenosha-based Southport Bank. Under an investment plan scheduled for a shareholder vote next week, the bank to increase its number of shares from 3 million to 30 million, the Kenosha News reported.
-
Associated Raises $478M
Posted on January 15th, 2010 No commentsAssociated Banc-Corp has closed its common stock offering, raising $478.3 million in new capital, according to the Milwaukee Journal Sentinel.
-
Loss Prompts Associated to Raise Capital
Posted on January 11th, 2010 No commentsAfter losing $180.6 million in fourth quarter 2009, Green Bay, Wis.-based Associated Bank announced it will raise $400 million in capital through a common stock offering and cut its quarterly dividend to a penny. Shares closed down almost 7 percent after the announcement, reported the Milwaukee Journal Sentinel and Bloomberg News.
-
Bank Stocks Rank Low on Performance List
Posted on January 10th, 2010 No commentsBank stocks comprised nine of the “10 biggest losers among Wisconsin stocks in 2009,” according to a story in the Milwaukee Journal Sentinel.