Economic Development

The Rauser Agency, a health insurance and employee benefits solutions firm, recently moved its downtown Milwaukee headquarters office across the street from 400 E. Wisconsin Ave. to the 411 E. Wisconsin Ave. tower.

After working at Robert W. Baird & Co. Inc. for 19 years, financial planner Betty Wellhoefer Hill has branched out to establish her own investment advisory firm in Grafton.

Milwaukee-based MGIC Investment Corp. has announced that J. Michael Lauer, who has been the company's chief financial officer since 1989, will retire on Feb. 28, 2014.

First Business Financial Services Inc. reported third quarter net income of $3.6 million, or 91 cents per diluted common share, in the third quarter, compared with $2.6 million, or 99 cents per share, in the same period a year ago.

Reflecting the rebound of the U.S. housing market, Milwaukee-based MGIC Investment Corp. reported third quarter net income for of $12.1 million, or 4 cents per share, compared with a net loss of $246.9 million, or $1.22 per share, for the same quarter a year ago.

U.S. Bancorp, the Minneapolis-based parent company of U.S. Bank, reported third quarter net income of $1.5 billion, or 76 cents per share, comparable to $1.5 billion, or 74 cents per share, in the same period a year ago.

The PNC Financial Services Group Inc., the Pittsburgh-based parent company of PNC Bank, reported third quarter net income of $1.0 billion, or $1.79 per share, compared with net income of $1.1 billion, or $1.99 per share, for the same period a year ago.

Northern Trust Corp., the Chicago-based parent company of Northern Trust Bank, reported third quarter net income of $206.5 million, or 84 cents per share, up from $178.8 million, or 73 cents per share, in the same period a year ago.

A small group of investors is in the process of buying the former Home Bar property, located at 2659 S. Kinnickinnic Ave. in Bay View, Milwaukee Alderman Tony Zielinski said.

St. Louis, Mo.-based Stifel Financial Corp. announced it has entered into an agreement to acquire Ziegler Lotsoff Capital Management LLC (ZLCM), an asset management business with offices in downtown Milwaukee and Chicago.