Banking & Finance

Despite signs of economic recovery, a new survey says Americans' confidence in their ability to afford a comfortable retirement remains at historic lows as workers appear to be grasping the realities of what they need to save.

First Business Financial Services Inc., the Madison-based parent company of First Business Bank and First Business Bank-Milwaukee, reported record first quarter net income of $3.2 million, up 47 percent from $2.2 million in the same period a year ago.

The Federal Reserve Board on Wednesday announced that the redesigned $100 note will begin circulating on Oct. 8, 2013.

Chicago-based accounting, tax and advisory firm Baker Tilly Virchow Krause LLP will merge with New York-based Holtz Rubenstein Reminick LLP on June 1.

Minneapolis-based U.S. Bancorp reported that its first quarter earnings rose 6.7 percent. Net earnings rose to $1.43 billion, or 73 cents per share, for the first quarter ended March 31, from $1.34 billion, or 67 cents per share, a year earlier.

The PNC Financial Services Group Inc., the Pittsburgh-based parent company of PNC Bank, reported first quarter net income of $1.0 billion, or $1.76 per share, compared with $811 million, or $1.44 per share, in the same period a year ago.

Brown Deer-based Bank Mutual Corp. reported first quarter net income was $2.5 million, up 120 percent from $1.2 million the same quarter a year ago.

Associated Banc-Corp reported first quarter net income of $46 million, or 27 cents per share, up from $41 million, or 24 cents per share, in the same quarter a year ago.

Briggs & Stratton Corp. reported fiscal third quarter net income of $38.5 million, or 78 cents per share, down from $39.9 million, or 80 cents per share, in the same period a year ago.

Jacsten Holdings LLC, a Milwaukee-based family investment firm, has announced an investment in Hartford-based Triton Corp., the latest addition to Jacsten’s portfolio.