Banking & Finance

The poor housing market and large number of foreclosures continues to plague Milwaukee-based MGIC Investment Corp., which reported that its second quarter loss increased by 80.5 percent to $273.89 million.

BMO Financial Group announced the creation of BMO Harris Financial Advisors, a dedicated network of professionals committed to serving the financial planning and wealth management needs of BMO Harris Bank clients.

Menomonee Falls-based Assisted Living Concepts Inc. reported Thursday that it had a net loss of $25.1 million in the second quarter, compared to positive net income of $6.28 million in the second quarter of 2011.

Milwaukee-based Glenn Rieder Inc. announced that it has acquired San Diego-based Quality Cabinet and Fixture Company and its majority owned subsidiary, Quality Cabinets de Mexico S. de R.L. de C.V.

Cudahy logistics provider Roadrunner Transportation Systems Inc. has acquired R&M Transportation and Sortino Transportation for $24.4 million.

Milwaukee-based Bank Mutual Corp. has declared a quarterly cash dividend of $0.01 per share to be paid out on August 31 to shareholders of record as of August 17.

Heartland Financial USA has announced Wisconsin Bank & Trust will acquire First Shares Inc., the parent company of First National Bank in Platteville, for $11 million.

The Governor’s Council on Financial Literacy has awarded $250,000 in financial literacy grants to 24 school districts around the state, including three in the Milwaukee area.

Milwaukee-based Harley-Davidson Inc. reported that its second quarter profit of $247.25 million, up 29.7 percent from its 2011 second quarter profit of $190.58 million. Diluted earnings per share were $1.07, up 32 percent from 81 cents in the 2011 second quarter.

Racine-based Johnson Outdoors Inc. reported fiscal year third quarter net income of $9 million, up 10.8 percent from the previous fiscal third quarter. Net sales were $128.6 million, up five percent.