-
Offer Made for Southport Bank Shares
Posted on February 10th, 2010 No commentsA former Kenosha businessman has offered $8.5 million to buy a controlling interest in Kenosha-based Southport Bank. Under an investment plan scheduled for a shareholder vote next week, the bank to increase its number of shares from 3 million to 30 million, the Kenosha News reported.
-
Citizens Parent Co. Sells Iowa Bank
Posted on February 1st, 2010 No commentsCitizens Republic Bancorp Inc., the parent of Citizens Bank locations in Wisconsin, said Monday that it has agreed to sell F&M Bank-Iowa to Great Western Bank of Sioux Falls, S.D., for about $50 million in cash, the Business Journal of Milwaukee reported.
-
State Fines Guaranty Bank’s Insurer
Posted on January 26th, 2010 No commentsWisconsin’s insurance commissioner fined Evanston Insurance Co., of Deerfield, Ill., $100,000, concluding the insurer was not authorized in Wisconsin to sell mortgage guaranty insurance – a move that Brown Deer, Wis.-based Guaranty Bank says entitles the bank to relief from big premiums that are draining earnings. Read the Milwaukee Journal Sentinel article.
-
Baylake Corp. Posts 4th Quarter Profit
Posted on January 25th, 2010 No commentsBaylake Corp., the Sturgeon Bay-based parent company of Baylake Bank, posted a profit of $678,000 for the fourth quarter of 2009, a turnaround from its net loss of $9.9 million the year before. Earnings were 9 cents per share, compared with the net loss of $1.25 per share, in fourth quarter 2008, according to the Milwaukee Business Journal.
-
Federal Law Brings Changes in Overdraft Fees
Posted on January 22nd, 2010 No commentsA check of local banks that provided information to the Wisconsin State Journal found a number of modest fee changes that some customers will face because of a change in federal law related to overdraft fees. Mike Petta, manager of the Verona branch of Capitol Bank, said he thinks smaller banks are trying to hold the line on fees. Read the article.
-
Bank Cites Participations as Trouble Spot
Posted on January 19th, 2010 No commentsJerry O’Connor, president of National Bank of Waupun, says his financial institution has a sound capital base and remains strong. The bank, which recently entered into an agreement with the OCC, lost $429,000 in the first nine months of 2009. Connor cited loan participations, not local loans, as the problem. Read more in the Fond du Lac Reporter.
-
Layton State Bank Participates in TARP
Posted on January 11th, 2010 No commentsLayton State Bank in Milwaukee is the latest Wisconsin bank to receive capital through the federal government’s Troubled Asset Relief Program, or TARP, the Milwaukee Journal Sentinel reported.
-
Denmark State Bank Names New President
Posted on January 10th, 2010 No commentsJill Feiler has been named president of Denmark (Wis.) State Bank, having most recently served as vice president of the bank with branches in several communities including in the Lakeshore area. Current president and Chief Executive Officer Jack Olsen remains as DSB’s CEO, according to the Manitowoc Herald Times Reporter.
-
Bank First National Adds Investment Staff
Posted on January 10th, 2010 No commentsBank First National has combined its financial services team with former employees of the George V. Reis Investment Group after allowing its contract with financial adviser George Reis to expire, according to the Manitwoc Herald Times Reporter.
-
Tri City Gaining After Elmwood Acquisition
Posted on December 30th, 2009 No commentsTwo months after Tri City National Bank in South Milwaukee purchased the failed Bank of Elmwood in Racine, it has grown from last place in Racine County market share to third place and to more than $1 billion in assets. Almost all of the former Elwood staff still works for Tri City, including former CEO Jess Levin, who works from his same office and has the title of community executive. Read more in the Milwaukee Journal Sentinel.