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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One in Five Wis. Banks Ends Year With Loss
Posted on February 25th, 2011 No commentsFifty-six Wisconsin banks — or one of every five — ended 2010 with a loss, according to new FDIC figures. In 2009, 73 banks, or 26 percent, reported a net loss for the year. M&I Marshall & Ilsley Bank had the biggest net loss, at $503.3 million, in 2010, followed by Johnson Bank, Racine, $135.3 million, and Bank Mutual, Brown Deer, $72.2 million, the Wisconsin State Journal reported. -
M&I to Eliminate 143 Positions
Posted on February 23rd, 2011 No commentsMilwaukee-based M&I Bank announced it is eliminating 143 jobs corporate wide, or 1.6 percent of its total workforce. Fifteen of the eliminated positions were based in southeastern Wisconsin. The affected positions ranged from internal support to management-level employees, the Small Business Times reported. -
Small Protest Organized at M&I Branch
Posted on February 22nd, 2011 No commentsSeven people gathered at an M&I bank branch at 5101 Spring St., Racine, to protest Gov. Scott Walker’s budget repair bill. The protesters handed out flyers claiming that bank employees had donated to Walker’s campaign at a time when the bank still had not repaid $1.7 billion in TARP funds. Read the story in the Racine Journal Times. -
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. -
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. -
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. -
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. -
Job Losses Predicted for M&I Execs, Staff
Posted on January 28th, 2011 No commentsMilwaukee business executives believe that top executives and many backroom and support staff will lose their jobs at M&I Bank. M&I has declined to disclose employment figures by department or business unit, but has about 4,000 Milwaukee-area employees, The Business Journal reported. -
Harris Names ‘Integration Management’ Director
Posted on January 25th, 2011 No commentsA Harris Bank executive from Chicago has been appointed to manage the integration of Harris and M&I Bank. BMO Financial Group disclosed in a regulatory filing that Cecily Mistarz has been named to the newly created position of Integration Management Office director, the Milwaukee Journal Sentinel reported. -
Ninth Quarterly Loss for M&I
Posted on January 20th, 2011 No commentsM&I Bank reported its ninth straight quarterly loss of $133 million, or 25 cents per share, from October through December. In the same quarter of 2009, M&I lost $260 million, the Pierce County Herald reported.