Economic Development

Waukesha State Bank has renamed its Wealth Management Services division to Prairie Financial Group and named Kristin Reilly president of the division.

Brookfield-based Pinstripe, Inc. has acquired recruitment outsourcing and talent management company Ochre House, headquartered in London in the United Kingdom.

Brown Deer-based Bank Mutual Corp. reported second quarter net income of $2.6 million, or 6 cents per share, up from $1.3 million, or 3 cents per share, in the same quarter a year ago.

Associated Banc-Corp reported second quarter net income of $47 million, or 28 cents per share, up from $42 million, or 24 cents per share, for the same quarter a year ago.

Don Stockhausen has joined HighTower Palm Desert, a financial advisory firm in Palm Desert, Calif. He will travel back and forth and continue to serve his clients in Milwaukee.

BrightStar Wisconsin Foundation, a new philanthropic early stage capital fund, has received $300,000 in operating capital from the Wisconsin Economic Development Corporation.

Wisconsin Gov. Scott Walker today signed a bill designed to bring more transparency and accountability to the Wisconsin Economic Development Corporation (WEDC).

Northern Trust Corp., the Chicago-based parent company of Northern Trust Bank, reported second quarter net income of $191.1 million, or 78 cents per share, up from $179.6 million, or 73 cents per share, in the same period a year ago.

U.S. Bancorp, the Minneapolis-based parent company of U.S. Bank, reported record net income of $1.5 billion, or 76 cents per share, up from $1.4 billion, or 71 cents per share, in the same period a year ago.

Phase One of the entrepreneurship project Scale Up Milwaukee is now underway. The multi-year project is a new initiative commissioned by American Express OPEN, a division of the company that focuses on entrepreneurs, and it has begun its efforts to create an "entrepreneurship ecosystem" in Milwaukee.