Banking & Finance

Wauwatosa-based Waterstone Financial Inc. reported third quarter net income of $8.4 million, 27 cents per share, compared with a net loss of $206,000 or 1 cent per share, in the same period a year ago.

Waukesha State Bank announced it plans to open a new full-service bank branch and office at 14000 W. National Ave. in New Berlin.

Racine-based Twin Disc Inc. reported fiscal first quarter net earnings of $1.3 million, or 11 cents per share down from record earnings of $9.6 million, or 83 cents per share, in the same period a year ago.

Journal Broadcast Group, Inc., a subsidiary of Journal Communications Inc., announced it has closed on the purchase of WACY-TV in Green Bay for $2.038 million from ACE TV Inc.

Chief executive officers at more than 80 major U.S. corporations have released a statement to pressure Congress to reduce the federal deficit with tax increases and spending cuts.

Buoyed by a barrage of paid political campaign television commercials, Milwaukee-based Journal Communications Inc. reported third quarter net earnings of $7.7 million, or 14 cents per share, up from $4.4 million, or 7 cents per share, in the same period a year ago.

The U.S. economy sped up in the third quarter, as the gross domestic product grew at a 2 percent clip from July through September, up from 1.3 percent in the second quarter, according to the Commerce Department.

First Business Financial Services Inc., the parent company of First Business Bank and First Business Bank-Milwaukee, reported record third quarter results highlighted by growth in revenue, in-market deposits, commercial loan balances and problem loan resolutions.

The U.S. economy has been slow to recover, unemployment remains high, the federal government's credit rating has been downgraded and some still fear the economy could slip back into a recession as more uncertainty looms in world markets because of the impending European debt crisis.

Jannsen + Company, an accounting and business resources firm based in Pewaukee, has forged a partnership with the Milwaukee Admirals Hockey Club as part of its growing initiative to coach athletes in wealth management and tax obligations.