Banking & Finance

U.S. Bancorp, the Minneapolis-based parent company of U.S. Bank, reported record net income of $1.5 billion, or 76 cents per share, up from $1.4 billion, or 71 cents per share, in the same period a year ago.

The PNC Financial Services Group Inc., the Pittsburgh-based parent company of PNC Bank, reported second quarter net income of $1.1 billion, or $1.99 per share, up from $546 million, or 98 cents per share, in the same period a year ago.

Waukesha State Bank has renamed its Wealth Management Services division to Prairie Financial Group and named Kristin Reilly president of the division.

Brookfield-based Pinstripe, Inc. has acquired recruitment outsourcing and talent management company Ochre House, headquartered in London in the United Kingdom.

Brown Deer-based Bank Mutual Corp. reported second quarter net income of $2.6 million, or 6 cents per share, up from $1.3 million, or 3 cents per share, in the same quarter a year ago.

Associated Banc-Corp reported second quarter net income of $47 million, or 28 cents per share, up from $42 million, or 24 cents per share, for the same quarter a year ago.

Don Stockhausen has joined HighTower Palm Desert, a financial advisory firm in Palm Desert, Calif. He will travel back and forth and continue to serve his clients in Milwaukee.

BrightStar Wisconsin Foundation, a new philanthropic early stage capital fund, has received $300,000 in operating capital from the Wisconsin Economic Development Corporation.

Kenosha-based Snap-on Inc. reported second quarter net earnings of $88.4 million, or $1.50 per share, compared with $76.4 million, or $1.30 per share, in the same period a year ago.

The common stock for Glendale-based Johnson Controls Inc. last week reached a new 52-week high of $40.06, above its previous high of $38.33.