Banking & Finance

Brookfield-based North Shore Bank announced Friday that it has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase Kenosha-based Banks of Wisconsin, which does business as Bank of Kenosha.

Menomonee Falls-based Actuant Corp. announced today that its board of directors has authorized a plan to sell the company’s Electrical segment.

The board of directors for Community Bankers of Wisconsin (CBW) is calling for passage of a U.S. Senate bill that will require the nation's largest banks to increase their capital requirements.

The board of directors of Smithfield Foods Inc., the parent company of Patrick Cudahy LLC, has entered into an agreement to be acquired by Shuanghui International Holdings Limited, which is China's largest meat processing company for $7.1 billion, including the assumption of Smithfield's net debt.

Milwaukee-based Joy Global Inc. reported second quarter net income of $181.6 million, or $1.69 per share, down from $213.6 million, or $2.00 per share, in the same period a year ago.

Brookfield-based North Shore Bank today announced that it has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase Kenosha-based Banks of Wisconsin, which does business as Bank of Kenosha.

Wisconsin banks reported combined net income of $256 million in the first quarter, up from $200 million in the same period a year ago, according to the Quarterly Banking Profile released by the Federal Deposit Insurance Corporation (FDIC).

The U.S. stock market soared again today as Americans' confidence in the economy jumped in May to a five-year high, lifted by a better outlook for hiring and business conditions.

U.S. Bank is providing nearly $10 million in financing to help Heartland Housing Inc. develop a 37-unit family supportive housing project on a once vacant piece of land in northeast Milwaukee.

Milwaukee-based Patina Solutions has opened its ninth U.S. office in Minneapolis by acquiring Summit Advisory Group.