Banking & Finance

Milwaukee-based A.O. Smith Corp. today reported first quarter net earnings of $46.7 million, or 51 cents per share, up from $39 million, or 42 cents per share, in the first quarter of 2013.

Glendale-based Johnson Controls Inc. has agreed to acquire air distribution and ventilation product manufacturer Air Distribution Technologies Inc. for about $1.6 billion.

Earnings released last week for banks with a presence in the Milwaukee market have been generally positive.

Brown Deer-based Bank Mutual Corp. reported first quarter net income of $2.8 million, or 6 cents per share, up 11.7 percent from $2.5 million, or 5 cents per share, in the first quarter of 2013.

MGS Mfg. Group Inc., headquartered in Germantown, announced it has purchased Hospira's injection molding plant in Buffalo, N.Y.

Waukesha State Bank is working on plans to build a bank branch in Hartland at the current site of the Hartbrook Lanes bowling alley at 550 Hartbrook Drive.

Green Bay-based Associated Banc-Corp reported first quarter net income of $45.1 million, or 27 cents per share, down from $47.3 million, or 28 cents per share, in the first quarter of 2013.

West Bend-based Westbury Bank will spend about $1.5 million to renovate its branch at North Avenue and Calhoun Road in Brookfield.

The NBA will reserve the right to buy back the Milwaukee Bucks from incoming owners Wesley Edens and Mark Lasry if a deal to a build a new arena in the city is not in place by November 2017.

The Accounting & Financial Women's Alliance-Milwaukee Chapter will host a half day workshop with renowned stress and resilience expert Paula Davis-Laack on Friday, June 6, from 7:30 a.m. to noon at the Radisson Hotel, 2303 N. Mayfair Road in Wauwatosa.