Banking & Finance

Gladstone Capital Corp., a McLean, Va.-based investment company, today announced today it has invested $19.5 million in Allen Edmonds Shoe Corp. of Port Washington by purchasing a loan from one of Allen Edmonds' existing lenders.

The U.S. economy grew more quickly than previously stated in the third quarter due to stronger trade, faster health care spending and increased local government construction, the U.S. Commerce Department reported today.

As we approach the end of 2012, and with the holidays upon us, many Americans will be giving gifts in December by way of a check. This year is unique because the Fiscal Cliff is also upon us. Some people will be writing very large, multimillion-dollar checks to family members with the hopes of taking advantage of favorable tax conditions in advance of the Fiscal Cliff. Those taxpayers may become victims of their own generosity.

A second review presented to the Wisconsin Economic Development Corp.'s board of directors said the agency's problems stemmed from transferring duties from the old Department of Commerce.

Todd Sivak, partner at Sivak Financial Group in Brookfield, has earned a Certified Family Business Specialist certification.

First Business Financial Services Inc., the parent company for First Business Bank in Madison and First Business Bank-Milwaukee, announced the closing of its previously announced public offering of 1.1 million shares of common stock at $23.00 per share.

Milwaukee-based RCB Awards has acquired Artistic Engraving of West Allis and Premier Awards of Fort Atkinson.

A three-year old consent order between WaterStone Bank SSB, a wholly-owned subsidiary of Waterstone Financial Inc., holding company of WaterStone Bank, and regulators has been terminated after the Wauwatosa financial institution satisfied requirements to return to profitability.

Due to potential increases in U.S. Federal income tax rates on dividends in 2013, the board decided to accelerate the cash dividends that would normally have been paid in March and June of the company's current fiscal year which ends June 30, 2013.

Milwaukee-based Robert W. Baird & Co. Inc. and Axis Capital, the investment banking subsidiary of Axis Bank, one of the leading private sector banks in India, announced a strategic alliance for investment banking services, with an initial focus on cross-border mergers and acquisitions (M&A) between India and Europe, and India and the United States.