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Longtime banking administrator Mach
participates in joint review board meeting

MADISON – Mike Mach (second from right), Administrator of DFI’s Division of Banking, participated in a joint meeting of the Bank Review Board and the Savings Institution Review Board on June 23, 2015. Mach, who retires June 30, has worked for DFI and the Office of the Commissioner of Banking for 44 years.

The review boards meet at least annually to advise the Division of Banking on industry-related issues. Attending the meeting were, left to right, Bob Gorsuch, Oak Bank, Fitchburg; Doug Farmer, Park Bank, Holmen; Tom Spitz, Settlers Bank, DeForest; Paul Adamski, The Pineries Bank, Stevens Point; Debra Lins, Mid America Bank, Janesville; Ann Collins, DFI Applications Manager; Mach; and Cheryll Olson-Collins, Deputy Administrator of the Division of Banking. Attending the meeting by teleconference were Tom Pamperin, Premier Community Bank, Marion; Charles Schmalz, East Wisconsin Savings Bank, SA, Kaukauna; James Olson, Wolf River Community Bank, Hortonville; and Bob Holmes, Timberwood Bank, Tomah.

New business entity filings
tracking 3.2% ahead of prior year

MADISON – The number of new business entities formed in Wisconsin in the first five months of 2015 grew by 3.2% compared to same period in 2014, according to data compiled by the Department of Financial Institutions (DFI). As of May 31, 2015, new business filings totaled 18,024, compared to 17,464 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’s Securities chief joins panel to discuss
Wisconsin crowdfunding initiatives

MADISON – Patty Struck, Administrator of DFI’s Division of Securities, was a featured panelist at the 2015 Wisconsin Entrepreneurs’ Conference, hosted by the Wisconsin Technology Council, on June 3 at the Alliant Energy Center in Madison. Struck joined three others in a panel discussion, "Equity crowdfunding in Wisconsin: Trends, trails and trials." Joining Struck on the panel were, pictured from left to right, Andy Shrago, Wisconsin Investment Partners; Henry Schwartz, MobCraft Beer; and David Dupee, CraftFund LLC. The moderator was Wade Hanna, First Business Bank.

June 1 marked the one-year anniversary of Wisconsin’s investment crowdfunding law, which allows state businesses to raise capital from investors through internet offerings. MobCraft was the first Wisconsin business to use the crowdfunding exemption to raise capital. CraftFund LLC was the first internet site operator to register in the state.

To date, three Wisconsin businesses have used or are using crowdfunding to raise capital, and five companies have registered with DFI as internet site operators. For more information, go to www.wdfi.org/fi/securities/crowdfunding/default.htm

Net income up 20%, lending grows 7%
at state-chartered banks

MADISON – Net income grew nearly 20% and total lending increased by 7% at Wisconsin’s state-chartered banks in the quarter ending March 31, 2015, compared to the previous year, according to data released by the Federal Deposit Insurance Corp.

"State-chartered banks had a very strong first quarter," said Ray Allen, Secretary of the Department of Financial Institutions (DFI), which oversees state-chartered banks. "The solid growth in lending, coupled with the positive trend in credit quality, are indeed signs that the Wisconsin economy continues to improve."

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