Economic Development

Milwaukee private investment firm Jacsten Holdings LLC has acquired Lake Villa, Ill.-based Vonco Products Inc.

Most Wisconsin bank leaders consider the state’s economic health to be at least “fair,” according to a Bank CEO Economic Conditions Survey recently conducted by the Wisconsin Bankers Association.

Milwaukee-based Vector Technologies Inc. has been acquired by Holden Industries Inc. of Deerfield, Ill.

Generation Growth Capital Fund I, LP, a Milwaukee-based private equity fund, has acquired Mica Tool & Manufacturing Inc. of Mukwonago.

Brookfield-based Fiserv Inc. has acquired Open Solutions Inc., a provider of collaborative, enterprise core account processing technology for financial institutions.

U.S. Bancorp reported record full-year net income of $5.6 billion in 2012, up 15.9 percent from 2011.

Chicago-based Northern Trust Corp., the parent company of Northern Trust Bank, reported fourth quarter net income of $167.7 million, or 69 cents per share, up from $130.2 million, or 53 cents per share, in the same period a year ago.

Steve Booth has been promoted to chief operating officer and will eventually serve as chief executive officer and president of Milwaukee-based Robert W. Baird & Co Inc.

The River Revitalization Foundation (RRF), Milwaukee's urban rivers land trust, has closed on the purchase of an additional riverfront property on Riverboat Road with assistance from The Conservation Fund's Land Trust Loan Program.

Financial institutions will continue to improve from a profitability standpoint throughout 2013. However, earnings pressures will also continue to challenge the industry.