Madison
57° F
Mostly Cloudy
Mostly Cloudy
Advertisement

Bank of Wausau told to raise capital or sell out

Published On: Apr 01 2013 08:11:44 PM CDT
WAUSAU, Wis. -

Federal regulators have told the Bank of Wausau to shape up its finances or find a buyer.

The Wausau Daily Herald reports the Federal Deposit Insurance Corp. in February gave the bank 60 days to boost its capital or sell itself to another financial institution. Those 60 days are up Friday.

The newspaper says Bank of Wausau CEO Nancy Quinlisk did not immediately respond to requests for comment Monday.

The Bank of Wausau was founded in 1999 and has one location, in Wausau. Its total assets are listed at $52.7 million, but the bank has reported fourth straight years of losses.
In an order released Friday, the FDIC says the bank continues to deteriorate while its management has not demonstrated the ability to return it to health.

Advertisement
  • businesswoman working on computer in office

    iStock / shironosov

    Best ways to start every work day

    Morning routines are crucial for work day success, according to some career experts. Take a look at the most important things you should do at the start of every work day.

  • Lindsay Lohan in court new

    David McNew/Reuters

    Worst celebrity drivers

    NBA star Dwight Howard's Florida driver's license has been suspended after he failed to pay a ticket for running a red light, Reuters reported. In turns out Howard was ticketed an astonishing 10 times for running red lights in the Orlando area, and received four speeding tickets, 12 citations for failing to pay highway tolls and one citation for failing to change his address on his driver's license. Take a look at the worst celebrity drivers.

  • California fires night firefighters

    Noah Berger/Reuters

    Wildfires rage out of control in California

    Hundreds of homes have been destroyed by wildfires raging out of control in drought-stricken California. Thousands more are threatened.

  • C3K-EVENTS

    Events calendar

    Looking for something to do? Visit Channel 3000's events section featuring dining, food, music and family-friendly events throughout Madison and the surrounding area.

  • Get your weather app

    Channel3000.com and WISC-TV3 deliver local forecasts, live radar, school closings and alerts for Madison and South Central Wisconsin to iOS or Android devices.

  • Learn more about WISC-TV

    Meet the News 3 staff, learn about our newscasts, search our job postings and find out how to contact us.

Advertisement