Wisconsin

Nicolet Bankshares has agreed to buy MidWestOne Financial in an $864 million, all-stock deal. The acquisition will move the Wisconsin-based buyer into Iowa and the Twin Cities, while also allowing it to vault past a key regulatory threshold.

A July pickup in activity is just a start, experts say. The banking industry's drive for scale and greater efficiency is expected to drive a renewed wave of consolidation, pushing the institution count lower.

David Murphy, the credit union's vice president of risk and finance, will succeed Carol Adler, who is retiring.

New data from the state regulator shows gains across several key metrics even as allowances for loan losses surged and the loan-to-savings ratio fell by more than 10 points.

The Madison, Wis.-based credit union will donate $1.5 million to a pair of United Way chapters in the region which will help distribute the funds to organizations serving communities of color.

The region now leads the nation in virus cases, and with winter lurking the fear is that the outbreak will only get worse.

Gary Elliott will retire at the end of 2020, and the credit union has hired a search firm to help find its next leader.

New data from the state regulator showed that assets at credit unions in the Badger State grew by 28% during the first half of this year, versus growth of 14% in the first six months of 2019.

First-quarter income for credit unions chartered in the Badger State increased by about 6% from the same period one year earlier.

Nicolet Bankshares said its lagging stock price would complicate efforts to complete its planned purchase of Commerce Financial.

The Iowa company said Brent Giles, who was CEO of a bank that was recently sold, will run its Wisconsin Bank & Trust.

Industry groups also supported Democrat Christy Smith in a special election in California, though it appeared likely she would lose the bid.

TruStone Financial and Firefly Credit Union have announced plans to merge, pending regulatory approval and charter changes.

The Wisconsin regional said the funds will support loan growth and its dividend policy as well as create an added capital buffer.

Many states are offering additional flexibility as more consumers dip into their savings as a result of the pandemic’s economic fallout.

Northern Paper Mill Credit Union will merge with Fox Communities CU but no date has been given for when the deal might take effect.

The company agreed to buy Advantage Community Bancshares weeks after announcing a deal for Commerce Financial.

Data from regulators in the Badger State show state-chartered CUs making gains in several key areas in 2019 even amid a dip in ROA and an increase in allowance for loan losses.

The company will pay $130 million for Commerce Financial Holdings.

The Appleton, Wis.-based credit union has tapped Christopher Allen to take the helm following Greg Hilbert's retirement.