Hovde Brother Purchases Baltimore Bank

PNC Financial Sells Servicing Unit to Mellon

PNC Financial Services Group Inc. has completed the $2.3 billion sale of its Global Investment Servicing Inc. to Bank of New York Mellon Corp., according to The Business Journal of Milwaukee. Pittsburgh-based PNC Financial runs 25 branches in the Milwaukee area and recently completed the conversion of those former National City branches to the PNC name.

Royal Credit Union Buys 11 Anchor Branches

Eau Claire, Wis.-based Royal Credit Union is purchasing 11 AnchorBank offices in Amery, Balsam Lake, Centuria, Menomonie, Milltown, New Richmond, Osceola, River Falls, St. Croix Falls, Somerset and Star Prairie. The offices will open as RCU on June 28, according to WQOW Channel 18.

Bank Ownership Changes Irk Columnist

“We have changed banks again for the fourth time in not-too-many years. It is not due to lack of good service or competitive offerings. It is due to the seemingly constant shuffle of owners,” writes columnist Al Campbell in Germantown NOW.

CIB Still Seeking Buyer; New President Named

CIB Marine Bancshares Inc., the parent company of Marine Bank, is continuing to seek a buyer but has no prospects at the moment, said chairman and CEO John Hickey Jr. Hickey also announced that he will remain as chairman. Chuck Ponicki, who has been senior vice president and chief credit officer, will serve as the new president and chief operating officer, the Milwaukee Business Journal reported.

Coulee Bank Assumes Minn. Bank Assets

Coulee Bank in La Crosse has taken over the deposits and assets of Pinehurst Bank, a $58 million bank in St. Paul, Minn., that opened six years ago. The Minnesota Department of Commerce closed the bank, making it the 73rd bank to fail in the United States this year. Read the Milwaukee Journal Sentinel article.

Nicolet Acquires Four Anchor Branches

Nicolet National Bank’s acquisition of four AnchorBank branches in Brown County, Wis., is a natural evolution for the 10-year-old bank, which wants to increase its retail-banking profile, according to a column in the Green Bay Press-Gazette.

Ashland Bank Assumes Failed Bank’s Assets

The failed State Bank of Aurora, Minnesota reopened as a branch of Northern State Bank of Ashland, Wis., according to the Milwaukee Journal Sentinel. The State Bank of Aurora had $27.8 million in assets.

Acquisitions in the Future for Associated

New Associated Banc-Corp CEO Phil Flynn is eager, but not ready, to make acquisitions to expand the bank’s presence in Wisconsin, the Twin Cities and metro Chicago, the Business Journal of Milwaukee reported.

Bankers Show Strong Interest in Acquisitions

More than 62 percent of bank executives are interested in acquiring a failed bank, and 42 percent are interested in bidding on failed bank assets or deposits, Grant Thornton reported from its 17th Bank Executive Survey. Read more in the Business Journal.