Banks in the news include Marshall & Ilsley Corp. and Citizens Community Bancorp Inc.
M&I executives cash in their stock options
Marshall & Ilsley Corp., the Milwaukee-based parent company of M&I Bank, announced that three of its top executives have exercised stock options that were expiring this year. The stock options were granted to the executives in 1998 under the company’s 1997 Executive Stock Option and Restricted Stock Plan. Dennis Kuester, chairman of the board, exercised stock options for 100,215 shares. John Roberts, senior vice president, exercised stock options for 16,034 shares. Thomas Ellis, senior vice president, exercised stock options for 10,690 shares. Each executive paid the exercise price of the option by surrendering previously owned shares of M&I common stock resulting in a net increase in the number of M&I shares held by each executive. After the exercise, Kuester will hold 455,452 M&I shares and options to acquire 1.8 million M&I shares. Roberts will hold 155,097 M&I shares and options to acquire 463,664 M&I shares. Ellis will hold 23,587 M&I shares and options to acquire 337,391 M&I shares.
Eau Claire bank to repurchase stock shares
Citizens Community Bancorp Inc. the Eau Claire-based holding company for Citizens Community Federal, plans repurchase up to 10 percent of its outstanding stock shares in the open market or in privately negotiated transactions. The shares will be purchased periodically time over a 12-month period, depending upon market conditions. James Cooley, president and chief executive officer of the company, said the board of directors approved the repurchase program in view of the current price level of the company’s common stock and the strong capital position of Citizens Community Federal. "We believe that the repurchase of our shares represents an attractive investment opportunity which will benefit the company and our shareholders," Cooley said. As of March 31, the company had consolidated total assets of $425.7 million and stockholders’ equity of $75.3 million. The company’s stock is traded on the Nasdaq Global Stock Market under the symbol "CZWI."
