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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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. -
Koltons Resign from Foundations Bank
Posted on February 11th, 2011 No commentsGreg and Heidi Kolton have resigned as chief executive officer/president and chief operating officer/executive vice president, respectively, of financially troubled Foundations Bank in Pewaukee and its holding company, Generations Bancorp Inc., effective immediately. The Koltons remain shareholders of the bank they formed in 2005, according to the Small Business Times. -
Columbus Shareholders Approve Reorganization
Posted on February 7th, 2011 No commentsShareholders approved a reorganization plan proposed by the board of Jewel Box Financial Services Inc. – the holding company that owns Farmers & Merchants Union Bank in Columbus – when the company held its annual meeting. Read more in the Beaver Dam Daily Citizen. -
Layton State Bank Receives Award
Posted on February 1st, 2011 No commentsLayton State Bank will be named the Greendale Chamber of Commerce’s 2011 Business Member of the Year on Feb. 10 at the chamber’s annual awards banquet, according to the Greendale Patch. -
Federal Regulations Hinder Small Banks
Posted on January 20th, 2011 No commentsSome community banks in Wisconsin say new federal regulations are weighing them down. Eric Nottlestad is the vice president for Citizens First Bank in Viola. He says smaller banks are struggling to keep up with new regulations largely intended for Wall Street banks and other major institutions. Read more in the Pierce County Herald. -
Columbus Bank Considers Options
Posted on January 20th, 2011 No commentsJewel Box Financial Services Inc., the holding company established in 1997 that owns Farmers & Merchants Union Bank in Columbus, is evaluating its options, should its number of shareholders reach 500. The 419 current shareholders will vote on a reorganization plan in February. Read the story in the Beaver Dam Daily Citizen. -
Bank Staff Wears Jeans for Charity
Posted on January 16th, 2011 No commentsFirst American Bank presented the Hudson Boosters with a check for $500 through their Denim with a Cause program. The program raises money for local charities and nonprofits by asking employees to make a donation of $5 to wear jeans on Fridays, the Hudson Star-Observer reported. -
Forward Financial in Marshfield Honored
Posted on January 15th, 2011 No commentsForward Financial Bank was named Firm of the Year by the Marshfield Area Chamber of Commerce and Industry, according to the Wausau Daily Herald. Bank President Bill Sennholz said Forward – formerly Marshfield Savings Bank – has worked to provide for nonprofits in the area through its charitable money market accounts and to serve the community through more than 30 organizations and clubs in which its employees are involved.
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Wis. Bank Chosen for Lending Program
Posted on January 2nd, 2011 No commentsSheboygan-based Community Bank & Trust has announced its approval by the U.S. Department of Transportation as a new participating lender in the Short Term Lending Program. The bank joins only 21 other lenders across the country to offer this service, the Sheboygan Press reported.
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Legacy Bank Still Struggling
Posted on December 28th, 2010 No commentsMilwaukee’s Legacy Bank received $5.5 million in government investment in early 2009. The bank lost more than $6 million this year and more than $15 million in 2009. “It looks like the bank bailout for the small guys failed and the American public doesn’t have the stomach for another bailout. I know I don’t,” writes Milwaukee Journal Sentinel blogger James Causey.