Economic Development

The preferred stock and subordinated debt positions of Waukesha-based bank holding company Waukesha Bankshares Inc. are being auctioned today as part of the federal Troubled Asset Relief Program’s Capital Purchase Program.

Milwaukee-based marketing agency GMR Marketing plans to merge with San Francisco-based SportsMark Management Group.

Milwaukee-based accounting, tax and business consulting firm Schenck S.C. has acquired most of the practice of Milwaukee CPA firm Bonfield & Company S.C.

Chicago-based Cole Taylor Bank has hired two new employees at its Franklin commercial banking office as part of a southeast Wisconsin expansion.

The Riverwest Investment Cooperative has started a microlending program in cooperation with the Wisconsin Women's Business Initiative Corporation.

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.