Banking & Finance

Drought conditions that resulted in lower lawn mower sales prompted Briggs & Stratton Corp. to report a fiscal first quarter net loss of $13.2 million, excluding additional restructuring charges.

The call for a “flatter” income tax often is accompanied by a call for fairness. In truth, the flatter tax is not fair, according to Jack Norman, author of today’s Milwaukee Biz Blog.

Green Bay-based Associated Banc-Corp reported third quarter net income of $45 million, or 26 cents per share, up from $34 million, or 20 cents per share, in the same period a year ago.

Bank Mutual Corp. reported third quarter net income of $2.0 million, or 4 cents per share, up from $1.3 million, or 3 cents per share, in the same period a year ago.

Milwaukee based ManpowerGroup reported third quarter net earnings of $63.1 million, or 79 cents per share, down from $79.6 million, or 97 cents per share, in the same period a year ago.

BMO Financial Group announced it has completed the integration of the personal, commercial and wealth operating systems of Harris Bank and M&I Bank.

Minneapolis-based U.S. Bancorp, which operates U.S. Bank branches in Wisconsin, reported record third quarter net income of $1.4 billion, or 74 cents per share, up from $1.3 billion, or 64 cents per share, in the same period a year ago.

Chicago-based Northern Trust Corp., which operates a Northern Trust Bank branch in downtown Milwaukee, reported third quarter net income of $178.8 million, or 73 cents per share, up from $170.4 million, or 70 cents per share, in the same period a year ago.

Associated Bank, a division of Associated Banc-Corp, announced it will close 12 retail branches in Wisconsin and Illinois to enhance efficiency in its branch network.

Milwaukee-based Rockwell Automation Inc. announced it has completed the acquisition of the medium voltage drives business of Harbin Jiuzhou Electric Co. Ltd.