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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Mitchell Bank Signs Regulatory Agreement
Posted on January 28th, 2011 No commentsMilwaukee-based Mitchell Bank is the latest Wisconsin bank to agree to a consent order with bank regulators requiring the bank to improve its business practices and develop a plan for improving its capital levels, according to The Business Journal. -
Bank Leaders Work Through Agreements
Posted on January 9th, 2011 No commentsLeaders at Bank of Wausau; Integrity First Bank of Wausau; and Mid-Wisconsin Bank of Medford are working through the terms of their respective agreements with regulators, dealing with the impact of the economic downturn and continuing to lend. Read more in the Wausau Daily Herald. -
Boscobel Bank Enters Agreement
Posted on January 6th, 2011 No commentsOfficials of Community First Bank in Boscobel, and its parent company, Boscobel Bancorp, have signed an agreement with state and federal regulators that requires bank officials will have to submit written plans to strengthen board oversight of the bank, improve credit risk management procedures, monitor and resolve bad loans, and manage interest rate risk appropriately, the Wisconsin State Journal reported. -
Securant Signs Regulatory Agreement
Posted on January 6th, 2011 No commentsThe parent company of Securant Bank & Trust has signed an agreement with the Federal Reserve Board following an August 2010 regulatory action by state and federal regulators. The agreement, disclosed this week, requires executives with the Menomonee Falls-based bank holding company to receive regulators’ approval for paying dividends and incurring debt. Read The Business Journal article. -
Baylake Focused on Financial Stability
Posted on January 3rd, 2011 No commentsThe parent company of Sturgeon Bay-based Baylake Bank has entered into a formal agreement with regulators to improve its financial stability, actions which it said have been under way for some time, the Appleton Post-Crescent reported. -
Regulatory Action Taken at Five Banks
Posted on December 30th, 2010 No commentsRegulators have told five more Wisconsin banks to make improvements to their loan portfolios and take other steps to strengthen their financial condition. State-based banks receiving consent orders from the Federal Deposit Insurance Corp. and the Wisconsin Department of Financial Institutions were: Mid-Wisconsin Bank, of Medford; Integrity First Bank and Bank of Wausau, both of Wausau; and Fox River State Bank, of Burlington. Read more in the Milwaukee Journal Sentinel. -
Banks Behind on TARP Dividends
Posted on December 18th, 2010 No commentsThe parent companies of five Wisconsin banks are among the 123 bank holding companies nationwide that didn’t pay the 5 percent dividend TARP payments due Nov. 15, up from 115 that deferred their payments in August and from 91 in May. In some cases, it was because regulators told them not to, the Milwaukee Journal Sentinel reported. -
Ridgestone Parent Co. Under Regulatory Order
Posted on December 2nd, 2010 No commentsThe Brookfield parent company of Ridgestone Bank must develop a plan for maintaining sufficient capital and is prohibited from borrowing money or paying dividends without permission from the Federal Reserve, according to a written agreement. Read more in the Milwaukee Journal Sentinel. -
Like Others, Bank Working Through Issues
Posted on November 26th, 2010 No commentsAlthough Stoughton-based Evergreen State Bank recently sent a letter to shareholders raising concerns about its stock, the bank is working to raise capital, either by bringing in investors or finding a merger partner. “We’re going to continue to work through these issues,” said Jim Farrell, president and CEO. Read the story in the Wisconsin State Journal. -
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.