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M&I Expects Improvement in Bad Loans
Posted on October 13th, 2009 No commentsMarshall & Ilsley Corp. expects its nonperforming loans to decrease to about 4.9 percent as of Sept. 30, which would be the company’s first linked-quarter decline in nonperforming loans in four years. Read more in the Small Business Times.
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Anchor BanCorp Restates Quarterly Loss
Posted on September 11th, 2009 No commentsAnchor BanCorp Wisconsin Inc. is restating its most recent quarterly results to report a loss of $65 million to $75 million. The parent company of Anchor Bank, Madison, said the loss grew as it reclassified some of its delinquent loans and re-evaluated how much money to add to reserves to cover bad loans. Read the Milwaukee Journal Sentinel article.
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Banks Lose $3.7B in 2nd Quarter
Posted on August 27th, 2009 No commentsAccording to FDIC statistics, federally insured banks posted a net loss of $3.7 billion in the second quarter of 2009, compared with a $4.8 billion profit in the second quarter of 2008, due largely to deteriorating loan quality. Read The Business Journal of Milwaukee article.
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Wis. Banks Have Brighter First Quarter
Posted on May 27th, 2009 No commentsA stabilizing economy and a surge in mortgage refinancing is credited with increasing the number of profitable banks in Wisconsin. About one in every 10 Wisconsin banks lost money in the quarter ended March 31, compared with one in five in the fourth quarter of 2008, figures released Wednesday by the Federal Deposit Insurance Corp. show. Read the Milwaukee Journal Sentinel article.