Banking & Finance

U.S. regulators on Wednesday filed suit against U.S. Bank for allegedly facilitating the embezzlement of customer funds by the jailed founder of Peregrine Financial Group Inc., the collapsed futures brokerage.

Wisconsin Bank & Trust, a Madison-based community bank serving businesses and individuals from 10 branch offices statewide, announced that Kevin Tenpas has been named president and chief executive officer.

Partnership Bank announced today it has signed a definitive agreement to acquire the two Ozaukee County bank branches operated by Oak Creek-based Tri City National Bank.

Sonic Foundry Inc., the Madison-based provider of video content management and webcasting solutions, announced that the company has renewed its line of credit with Silicon Valley Bank.

Curtis Industries, a Milwaukee-based division of Powers Holdings, today announced it has acquired Tri-Mag, Inc., which manufactures standard and customized power supplies.

Beloit-based building products distributor ABC Supply Co. Inc. has acquired the inventory and select equipment previously owned by JB Supply Company, a distributor of roofing, siding and other exterior building products in Flint, Mich.

Sally Vega has been named trust officer in Milwaukee for The Private Client Reserve of U.S. Bank. Vega will be responsible for serving high net worth clients, families and charities with trust administration services. She has more than 16 years of experience in financial services, most recently as trust officer for The PrivateBank in Milwaukee.

More than $163 million of early stage funding was invested in emerging Wisconsin companies in 2012, up 7 percent from $153 million in 2011, according to a recent report from the Wisconsin Angel Network.

David Schuelke, CEO of Brookfield-based Spring Bank, has been appointed to the Community Bankers Council of the American Bankers Association.

Wisconsin's six-month economic forecast ranks 49th in the nation, according to the latest state-by-state analysis by the Federal Reserve Bank of Philadelphia.