Johnson Bank to close branches
Johnson Bank announced it will close its branches in Lake Geneva and Sheboygan and its drive-up location at 5417 Washington Ave. in Racine.
The Racine-based bank will consolidate its Lake Geneva office into its Burlington location, and the Sheboygan office will be consolidated into its Kohler location. The Lake Geneva and Sheboygan branches will close Dec. 17.
The closures are part of a plan to manage business in light of the evolving economic environment, the bank said.
“No one is immune to the impact caused by the current economic situation,” said Russ Weyers, chief operating officer and incoming chief executive officer of Johnson Bank. “We’re making decisions so we can be an even stronger financial partner in the future for our clients.”
Approximately 12 jobs will be eliminated with the closures. Weyers said he expects the impact on clients to be minimal.
Weyers said the bank will continue to review multiple aspects of the organization to manage the business and adapt to the changing economic environment.
August U.S. housing starts rise to highest level since April
U.S. housing starts rose 10.5 percent in August to an annualized rate of 598,000, compared with a revised 0.4 percent increase in July, the U.S. Commerce Department said. The figure for July was revised down by 5,000.
In the Midwest there were 112,000 housing starts in August, up 21.7 percent compared to July.
The August housing starts were the highest number of homes that started construction in the U.S. and in the Midwest since April.
“Today’s data on housing activity is welcome positive news,” U.S. Commerce Secretary Gary Locke said. “We’re headed in the right direction, but we know that the housing market is tied directly to jobs and incomes. That’s why this administration will continue to pursue policies, such as the new business investment tax break, that will spur growth and help put more Americans back to work.”
New restaurant to open on Milwaukee Street
Omar Shaikh and Mike Polaski, the owners of SURG Restaurant Group (which includes Carnevor, Umami Moto and Charro) will on Friday open Distil at 722 N. Milwaukee St. in downtown Milwaukee. Distil will be a artisanl restaurant featuring premium cheeses, wines, beers, craft cocktails, bourbons and ryes.
