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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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. -
Communication Critical for M&A Success
Posted on February 18th, 2011 No commentsA study from Thomson Reuters and Freeman Consulting Services concludes “the global market for M&A will surge 36 percent in 2011 to over $3 trillion.” But on the flip side, more than 60 percent of all mergers fail to achieve their financial goals, and 20 percent of them actually reduce the value of the merged company, according to Fast Company. The importance of a good communications strategy is becoming more widely recognized within M&A communities, according to a Small Business Times column. -
Is Associated Raiding M&I Staff?
Posted on February 16th, 2011 No comments“Is Associated Bank raiding M&I Bank’s talent pool as M&I professionals await their fates under new owner BMO Financial?” asks Business Journal Rich Kirchen in the Milwaukee Biz Talk blog. -
Dodd-Frank to Increase Bank M&A
Posted on February 16th, 2011 No commentsLook for more bank mergers and acquisitions in Wisconsin and elsewhere as the Dodd-Frank act takes hold and bank boards try to manage the resulting higher costs and lower fee income, said Sharon Stark, a managing director with Sterne Agee in Birmingham, Ala., at a CFA Society of Milwaukee luncheon. Read more in The Business Journal. -
Royal Bank Acquires Failed Cassville Bank
Posted on February 12th, 2011 No commentsRegulators closed Badger State Bank in Cassville, on Feb. 12. It is the second southern Wisconsin bank to fail this year. The 101-year-old bank’s single branch, about 100 miles southwest of Madison, reopens as part of Royal Bank, Elroy. Read more in the Wisconsin State Journal and the Milwaukee Journal Sentinel.
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Others Critical of M&I ‘Golden Parachutes’
Posted on February 11th, 2011 No commentsMany members of metropolitan Milwaukee’s financial community reacted with uncharacteristic outrage to the recent disclosure that Marshall & Ilsley Corp. executives will receive a combined $70 million in “golden parachute” payments when the bank is sold to BMO Financial, the Business Journal reported. -
Evergreen Acquisition Occurred Quickly
Posted on February 4th, 2011 No commentsMcFarland State Bank CEO E. David Locke Locke has been visiting McFarland State Bank’s new branches in Stoughton, Sun Prairie and Janesville this week, meeting employees and customers. “This all happened so quickly,” said Locke. He was told on Wednesday the acquisition of Evergreen State Bank would go through just two days later, on Friday, Jan. 28. Read the Wisconsin State Journal article. -
Payout to M&I Execs Disclosed
Posted on February 2nd, 2011 No commentsThe Canadian parent company of Harris Bank outbid another financial institution to acquire M&I Corp. in December, a regulatory document shows.The document also discloses that top M&I executives will receive millions of dollars in connection with the transaction, including an $18 million payout to M&I Chairman and CEO Mark Furlong, the Milwaukee Journal Sentinel reported. -
U.S. Bancorp Going Strong Decade After Merger
Posted on January 28th, 2011 No commentsIn the decade since U.S. Bancorp acquired Firstar, U.S. Bancorp has remained a force in metropolitan Milwaukee business as well as in the civic arena. Employment is actually about the same, at more than 3,300, according to U.S. Bank representatives, The Business Journal reported. -
Future Unknown for M&I’s HQ Building
Posted on January 28th, 2011 No commentsThe future of Marshall & Ilsley Corp.’s downtown Milwaukee office building at at 770 N. Water St. is unknown after the bank’s acquisition announcement and impending loss of Godfrey & Kahn SC as one of its anchor tenants. Read The Business Journal article.