Banking News

CIB Marine appoints new CFO
Pewaukee-based CIB Marine Bancshares Inc. announced that Edwin Depenbrok has been appointed chief financial officer, succeeding Steven Klitzing, who resigned in November.

Depenbrok, who has more than 30 years of banking and operations experience, founded Dbrok Group in 2001 to provide finance and treasury management services to community banks.

Movie project seeks old Wisconsin bank for film location
The Wisconsin banking community is playing a complementary role in the new Film Wisconsin tax credit program to give incentives for the movie industry to shoot scenes in the state.

Wisconsin boasts many examples of classic bank architecture, and one or more of those buildings may be featured in an upcoming movie about notorious bank robber John Dillinger. "Public Enemies" will star actor Johnny Depp as Dillinger.

The Wisconsin Bankers Association (WBA) has been working with the film’s site location team to identify Depression-era bank buildings that have not been substantially altered.

In addition to wanting a building that can pass for something from the 1930s, the movie location team is considering the size and look of the building’s interior, particularly the ceiling, as well as the appearance of adjacent structures. The site location team has scouted buildings in Ashland, Baraboo, Chippewa Falls, Eau Claire, Madison, Mazomanie, Milwaukee, Oshkosh, Ozaukee, Ripon and Wisconsin Rapids.

"At this point, we aren’t sure which bank building or buildings will be used in the movie," said Kurt Bauer, president and chief executive officer of the WBA. "What we do know is that the site team has traveled the state extensively scouting locations."

Litigation settlement takes bite out of Northern Trust
Northern Trust Corp.’s fourth-quarter net income fell to $125 million, or 55 cents per share, from $170.8 million, or 77 cents per share, in the same period a year earlier.

The Chicago bank holding company, which operates an office in downtown Milwaukee, said its income was reduced by $94.2 million, or 42 cents per share, on its litigation accrual of $150 million related to an antitrust lawsuit settlement between Visa Inc. and American Express Co.

Excluding those charges, Northern Trust’s fourth-quarter earnings increased 26 percent to 97 cents a share, boosted by strong growth in trust, investment and other servicing fees.

Northern Trust’s operating income rose 28 percent to $219.2 million from $170.8 million. The company’s quarterly revenue increased 25 percent to $972.8 million from $776 million.

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