Banking & Finance

Appleton Papers Inc. and Hicks Acquisition Company II Inc. today announced a definitive agreement under which Appleton will engage in a business combination with Hicks in a transaction valued at $675 million.

Wisconsin credit unions reported a steep rise in combined net income for the first quarter of 2012, up 77.5 percent over the same period last year and 21.4 percent from the previous quarter.

Associated Banc-Corp announced the appointment of James Yee to the role of executive vice president, chief information and operations officer.

Brookfield-based Inlanta Mortgage continues to expand by opening new offices Marshfield and De Pere, Wis, and Schaumburg, Ill.

Douglas Dynamics Inc., a Milwaukee-based designer and manufacturer of snow and ice control equipment for light trucks, reported a first quarter net loss of $4.3 million, or 19 cents per share, compared with a net loss of $0.8 million, or 4 cents per share, in the same period a year ago.

Menomonee Falls-based Magnetek Inc. reported first quarter net income of $6.9 million of $2.14, up from $971,000, or 30 cents per share, in the same period a year ago.

Sheldon Lubar will receive the BizTimes Bravo! Entrepreneur Lifetime Achievement Award at the Biz Expo on Thursday.

Sussex-based Quad/Graphics Inc. reported quarterly net earnings of $47.5 million, or $1.01 per share, compared with a net loss of $7.3 million, or 15 cents per share, in the same period a year ago.

Milwaukee-based Roundy's Inc. reported first quarter net income of $2.3 million, or 6 cents per share, down from $8.8 million, or 29 cents per share, in the same period a year ago.

The historic Times and Rosebud theaters have been sold at sheriff's auction to Lee Barczak, who also owns the Avalon Theatre in Bay View.