Economic Development

Michael Crowley Jr., chairman and CEO of Brown Deer-based Bank Mutual Corp., has informed the company's board of directors he will retire on July 1.

Minneapolis-based U.S. Bancorp announced that it donated more than $611,000 to United Way of Greater Milwaukee's 2012 fundraising campaign through employee contributions and corporate gifts.

Facing another quarter of mounting net losses, ZBB Energy Corp., a Menomonee Falls-based developer of renewable energy power platforms and hybrid vehicle control systems, is exploring its strategic options and is seeking sources of additional financial investments.

First Business Bank-Milwaukee announced the election of Timothy Wallen to its board of directors.

Mequon-based Mortgagebot LLC plans to move its headquarters from 1000 W. Donges Bay Road in Mequon 2.5 miles north to a 40,000-square-foot space in the East Mequon Corporate Center V building at 12080 N. Corporate Parkway in Mequon.

Anthony Jovanovich, chairman and chief executive officer of Community Banc-Corp. of Sheboygan Inc., announced that Community Bank & Trust posted record earnings of $5.0 million for 2012.

RDA Holding Co., publisher of the 91-year-old Reader's Digest magazine and parent company of Greendale-based Reiman Publications, has filed for bankruptcy to cut $465 million in debt and focus on North American operations as consumers shift from print to electronic media.

Milwaukee-based A.O. Smith Corp. has about $800 million to invest in water technology acquisitions and is poised for growth in 2013.

The student team representing Marquette University’s Graduate School of Management took the prize at the Association for Corporate Growth’s recent ACG Cup competition.

Gov. Scott Walker on Monday announced his two-year budget will provide $25 million for use on investment capital initiatives.