Banking & Finance

A bill that has been introduced in the both the U.S. Senate and House of Representatives could have a major impact on credit unions' lending abilities.

First Business Financial Services Inc., the Madison-based parent company of First Business Bank and First Business Bank-Milwaukee, today reported first quarter net income of $2.2 million, or 84 cents per share, up from $1.3 million, or 52 cents per share, in the same period a year ago.

Milwaukee-based Robert W. Baird & Co. Inc. posted record revenues of $925 million in 2011, up 9 percent from 2010, according to the company's annual report, which was released today.

The PNC Financial Services Group Inc. announced that its board of directors has elected William Demchak to be president of the corporation and its principal banking subsidiary, PNC Bank, National Association.

Make a Difference Wisconsin will host its fourth annual investment conference on Wednesday, May 9, from 1:30 to 5:30 p.m. at the Pfister Hotel in Milwaukee.

Northwestern Mutual Life Insurance Co. Inc. has sold the Russell Investments Center in Seattle to CommonWealth Partners for $480 million, in what is believed to be the largest single asset office sale in the Western United States since 2006.

Cudahy-based Roadrunner Transportation Systems Inc. has acquired all of the outstanding capital stock of D&E Transport, an asset-light flatbed carrier focused primarily on food and agricultural products located in Clearwater, Minn., for approximately $11.2 million plus an earnout.

MGIC Investment Corp. reported a net loss for the first quarter of $19.6 million, or 10 cents per share, compared with a net loss of $33.7 million, or 17 cents per share, for the same quarter a year ago.

Brown Deer-based Bank Mutual Corp., the largest Milwaukee County-based bank, reported first quarter net income of $1.2 million, or 3 cents per share, up from $1.0 million, or 2 cents per share, in the same period a year ago.

Windermere Wealth Advisors LLC in Milwaukee has formed a strategic alliance with independent investment and wealth management firm SCS Financial Services LLC of Boston.