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New business entity filings
tracking 3.5% ahead of prior year

MADISON – The number of new business entities formed in Wisconsin in the first eight months of 2015 grew by 3.5% compared to same period in 2014, according to data compiled by the Department of Financial Institutions (DFI). As of August 31, 2015, new business filings totaled 27,900, compared to 26,945 in same period in 2014.

The business formation data is compiled by DFI, which is the filing office for the creation of business entities in the state. DFI tracks new business entity creation on a monthly basis and posts the data on its website.

The full report may be found at www.wdfi.org/corporations/HistoricalStatistics.htm.

DFI Secretary participates
in 5th annual Small Business Summit

EAU CLAIRE – DFI Secretary Ray Allen addresses attendees at the Governor’s Small Business Summit in Eau Claire on Sept. 9. The 5th annual summit provided about 300 attendees the opportunity to talk to Cabinet secretaries, attend breakout sessions focused on best practices for businesses, and visit with Governor Scott Walker and Lt. Governor Rebecca Kleefisch. Governor Walker, who was the keynote speaker at the event, inaugurated the Small Business Summit during his first year in office as a way for top leaders in government to hear directly from small business owners.

The Governor, Lt. Governor, and Cabinet members talked about a number of policy priorities contained in the 2015-17 budget that help small businesses, including property tax relief, tax code simplification, broadband expansion grants, infrastructure investment, and ongoing worker training initiatives.

Registration is open for 5th annual
financial literacy summit Oct. 16 in Green Bay

MADISON – Registrations are now being accepted for the 5th annual Wisconsin Summit on Financial Literacy to be held Friday, Oct. 16, at Lambeau Field in Green Bay. The conference is geared toward supporting teachers, community outreach educators, and workplace professionals who have an interest in enhancing financial and economic literacy within their communities.

The full press release may be found at www.wdfi.org/Newsroom/Press.

Net income, total lending continue
to grow at state-chartered banks

MADISON – Net income was up 8.7% and total lending increased by 6.3% at Wisconsin’s state-chartered banks in the first half of 2015, compared to the same period of the previous year, according to data released by the Federal Deposit Insurance Corp.

"The overall health of Wisconsin banks is very strong," said Ray Allen, Secretary of the Department of Financial Institutions (DFI), which oversees state-chartered institutions. "As the Wisconsin economy continues to grow, our state-chartered banks are well positioned to handle increasing demand for products and services from businesses and consumers."

The full press release may be found at www.wdfi.org/Newsroom/Press.

DFI Secretary meets with
River Valley Bank Board of Directors

WAUSAU – DFI Secretary Ray Allen, left, participated in a roundtable discussion with members of the River Valley Bank Board of Directors on August 24, 2015. River Valley Bank President and CEO Todd Nagel invited Allen and his team to meet with the bank’s directors to discuss the current state of community banking in Wisconsin and how regulations have been affecting banks. Secretary Allen said the visit was part of DFI's ongoing commitment to communicating with stakeholders. "As regulators, it is important that we listen to the concerns of the state-chartered banks that we oversee," Allen said. "The input we receive allows us to do a better job of representing the interests of Wisconsin’s community banks at the national level." River Valley Bank, with headquarters in Wausau, has offices in 13 communities.