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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Regulators Close Evergreen State Bank
Posted on January 28th, 2011 No commentsA 112-year-old Stoughton bank became the fourth Wisconsin bank to fail since the economic downturn began. Evergreen State Bank was closed by state regulators on Friday, Jan. 28. McFarland State Bank will assume all of the deposits of the failed bank and agreed to purchase “essentially all” of its assets, according to the FDIC. Evergreen State Bank had about $246.5 million in assets. Read the Milwaukee Journal Sentinel article. -
Lending Gradually Increasing
Posted on January 21st, 2011 No commentsBetween the second and third quarters of 2010, the total loan holdings of Wisconsin’s FDIC-insured banks and savings institutions rose from $105.1 billion to $105.8 billion, the first recorded increase since the second quarter of 2008, Milwaukee News Buzz reported. -
Kohl: FDIC Easing Ag Credit
Posted on December 15th, 2010 No commentsU.S. Senator Herb Kohl says new federal guidelines on farm loans are a good first step to ensuring that agricultural lending is eased for producers who need credit to run their business. That’s after the FDIC issued a response to questions raised by the Milwaukee Democrat during a Senate Banking Committee hearing in early December. Read the article in the Wisconsin Ag Connection. -
‘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. -
Regulators Close First Banking Center
Posted on November 19th, 2010 No commentsRegulators closed Burlington-based First Banking Center, with First Michigan Bank, of Troy, Mich., stepping in to acquire substantially all of the assets of Burlington-based First Banking Center. The bank’s 17 branches will continue to carry the First Banking Center name. Read more in the Milwaukee Journal Sentinel or the Racine Journal Times. -
Article Suggests Checking Bank Ratings
Posted on November 14th, 2010 No comments“Through Nov. 5 of this year, the feds already had shuttered 143 banks. Is yours next? Financial experts suggest you check ratings of a bank of credit union through several free resources. The FDIC suggests two: BauerFinancial and Bankrate.com,” read a story in the Janesville Gazette. -
Most Banks Recover After Regulatory Action
Posted on November 14th, 2010 No commentsThrough Nov. 5 of this year, the feds already had shuttered 143 banks nationally. But according to the FDIC, most troubled banks eventually recover, the Janesville Gazette wrote in a recent article. -
35 Banks Now Under Regulatory Order
Posted on October 29th, 2010 No commentsISB Community Bank has been told to take steps to strengthen the bank and improve operations by the FDIC, the Milwaukee Journal Sentinel reported. The order is similar to many of the more than 35 special orders and agreements between regulators and Wisconsin-based banks over the last two years. ISB Community Bank President Jeff Knudtson said the bank already has completed many of the terms of the agreement.
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Bank Branches Decline in Number
Posted on October 16th, 2010 No commentsAfter more than a decade of constant growth, the number of bank branches in Wisconsin declined by one in 2009, then slid by 37 more this year to 2,351, new data from the Federal Deposit Insurance Corp. shows. Read the Milwaukee Journal Sentinel story.