Economic Development

A great deal of positive chatter about Wisconsin's economy in 2013 is coming out of the state's banking sector.

Regal Beloit Corp. announced it has completed the acquisition of the RAM motor business previously owned by Schneider Electric.

Anchor BanCorp Wisconsin Inc., the Madison-based parent company of Anchor Bank, announced a fiscal third quarter net loss of $15.1 million, or 71 cents per share, compared with a net loss of $15.3 million, or 72 cents per share, in the same period a year earlier.

Gus Hernandez Jr. has been appointed senior vice president and commercial banking manager for Johnson Bank's Milwaukee region.

Menasha Packaging Company LLC's Folding Carton Group is expanding its capabilities with a $6 million capital investment that will enable it to be more flexible and responsive when supporting the brand merchandising objectives of its customers.

Sheboygan-based Acuity Insurance announced that it has reached the $1 billion revenue mark, generated on premiums written across its 20-state operating territory.

Milwaukee-based Rexnord Corp. announced that its board of directors has initiated a review of its strategic alternatives that could include the sale of the company.

Generations Bancorp, Inc., parent of Pewaukee-based Foundations Bank, has raised $5 million in new capital from a shareholder subscription.

Seider Heating & Plumbing of Milwaukee and Waukesha has purchased Mohrhusen & Associates in Menomonee Falls.

BMO Harris Bank announced that it has hired Ross Kohl to lead its Small Business Administration loan program efforts in Wisconsin, Arizona, St. Louis and Kansas.