Bank Mutual is traded on the NASDAQ index under the BKMU tag.

Michael Crowley Jr., chairman, president and chief executive officer, said the bank is very well capitalized, despite the current economic conditions many banks are facing. The bank's public offerings in 2000 and 2003 raised large amounts of capital, some of which it still has in its coffers.

"We've raised a lot of capital over the years and some of that capital is excess even in today's climate," Crowley said. "And because of the risk profile of the company – we've been very conservative - we do not have some of the same problems as other (banks)."

The combination of excess capital and a low amount of credit quality issues has made Bank Mutual's stock a good buy, Crowley said, given the recent volatility in the stock market.

"As we have wide swings that the market goes through, we have an opportunity to pick up shares at reasonable prices," he said.

Bank Mutual's board is currently weighing whether or not to apply for federal dollars under the $700 billion Emergency Economic Stabilization Act recently approved by Congress, Crowley said.

Associated Bank will get $530 million from federal bailout program
Green Bay-based Associated Banc-Corp has received preliminary approval to sell $530 million of its preferred stock and related common warrants to the U.S. Treasury Department as part of the federal bailout program for the American banking industry.

Associated is the second Wisconsin-based bank to receive support from the Capital Purchase Program of the $700 billion Emergency Economic Stabilization Act approved by Congress and signed into law by President George W. Bush last month.

Milwaukee-based Marshall & Ilsley Corp. announced recently that the Treasury Department will purchase $1.7 billion in M&I stock as part of the bailout package.

With the program, the Treasury Department agrees to buy preferred stock and related common warrants in qualifying U.S. controlled banks, savings associations and certain bank and savings and loan holding companies.

"The Treasury's action is an indication of the soundness of our bank and our capital plan," said Associated Banc-Corp chairman and chief executive officer Paul Beideman. "Our participation in the Capital Purchase Program will further strengthen the company's balance sheet by increasing capital levels that already meet the government's definition of well capitalized. In fact, the additional capital will further strengthen the company's Tier 1 capital ratio to 12.25 percent from 9.22 percent at Sept. 30, 2008, and increase the total capital ratio to 14.11 percent, compared to 11.08 percent at Sept. 30, 2008."

"I am proud of our Associated colleagues who are helping us manage through these challenging times," said Associated president and chief operating officer Lisa Binder, who is based in Milwaukee. "Our company's strong capital position has allowed us to continue to support our customers' borrowing needs. We will utilize the additional capital from the Capital Purchase Program to continue our disciplined growth.”

Associated has total assets of $22 billion and operates approximately 300 banking offices serving 180 communities in Wisconsin, Illinois and Minnesota.

Two Chicago-based banks with Milwaukee-area branches also have announced that they will receive funds from the U.S. Treasury. Northern Trust Corp. has agreed to sell $1.5 billion worth of its preferred stock to the treasury, and Midwest Bank Holdings Inc., will receive about $85.5 million from the treasury. The deadline for other banks to request funds from the Treasury is Friday.

Olympus has been a long-term supplier of Ross & Associates, said Brian Adam, vice president of sales and marketing at the Milwaukee-based firm.

"We're in similar markets and sell to the same customers," he said. "That's why we did the deal - we can now be a source for them and they can fill some of our manufacturing capacity."

Olympus expects to fulfill about 40 percent of Ross & Associates' orders. The remaining work will continue to be subcontracted, Adam said.

Olympus has about 110 employees. Its headquarters and manufacturing operations are in Milwaukee, with sales offices in San Diego, Orlando, southern Florida and Oklahoma City. Ross & Associates has 10 employees.

Olympus will see about 5-percent revenue growth this year, Adam said. The company is seeking both organic growth and growth through additional acquisitions. Although present economic conditions have caused some markets to tighten, they are also making additional acquisitions more favorable.

"We're working on some right now, and are hoping to have one more by the end of the year," Adam said.

Financial terms of the acquisition were not disclosed.

The transaction is subject to regulatory conditions and is expected to close in fourth quarter.

State Long Distance Telcom Ltd. serves 9,300 access lines and 2,200 DSL lines through one telephone exchange.

David Wittwer, president and chief executive officer of TDS Telecommunications Corp. said, "State Long Distance is an excellent addition to our footprint in southeast Wisconsin. The company is near two of our existing telecommunications companies and operates a high-quality network. We look forward to being the preferred broadband provider in the community, offering new product bundles, enhanced service quality, and faster high-speed Internet service to our new customers."

TDS Telecom and TDS Metrocom are subsidiaries of Chicago-based Telephone & Data Systems Inc.

The acquisition gives AQS broader carrier-service options, as the company adds the capabilities of the AscendantOne Policy Management Suite and the associated rate-management capabilities to its current policy administration offerings for property/casualty insurers. As part of the transaction, AQS will obtain the tools used to maintain the ISO Rating Service software.

ISO retains ownership of ISO Rating Service and will maintain and support the advisory loss costs, rules and forms contained in ISO Rating Service.

"Up until this point in our history, AQS has provided commercial lines administration products and services for carriers whose preference was to source the lion's share of product implementation work, development, support, and maintenance to us. Our industry refers to that as the 'full-service' offering," said Dave Kerford, chief executive officer of AQS.

Financial terms of the transaction were not announced.

"This transaction creates unprecedented choice and opportunity for property/casualty insurers," said Bruce Davis, chief marketing officer of AQS. "In addition to being able to choose their levels of autonomy and self-service from the beginning of their relationship with us, users will be able to choose from commercial lines and personal lines. And they'll have packaged access to AQS technology and ISO content."

Name: Scott Fuller

Title: Vice president, senior benefit consultant

Company: Associated Financial Group

City of residence: Delafield

Family: Married with three children

What's new at your company? "Associated Financial Group is a growth-oriented and dynamic organization constantly searching for ways to better serve our clients.  We have added a number of technological capabilities recently that focus on better ways to help service and manage our clients' health plans. We have also added additional resources and tools to provide more depth and focus on wellness programs which have become a very important component of an employer's ability to mitigate future health care spending."

What are the most interesting issues you work with clients on? "The employee benefit consulting business has been and will continue to be a very interesting and fast changing component of our business. There are many interesting issues I deal with on a daily basis, but the most interesting are those in which I am able to create new and unique solutions to our clients' specific needs."

What is the most difficult or challenging project you've been involved with? "The most difficult project I have is an ongoing one that faces every employer in this country and that is how to find ways to help mitigate the never ending escalation of health care costs. The most challenging component of this issue is to help employers and their health plan members to better understand how this very complex system works and to find ways to encourage and empower them to take more ownership in their health care decisions."

Jill Haupt has been named regional president of community banking with Harris Bank. She will be responsible for 11 full service and 11 limited service Harris branches in Milwaukee and Waukesha counties and will work from the bank's 1000 N. Water St. location.

Haupt worked previously as senior vice president and regional retail director for Associated Bank, N.A. where she managed 70 retail branches in the Milwaukee area. As Harris' Wisconsin Metro regional president, Haupt will be responsible for developing and executing strategies to deliver the Bank's retail, business banking and wealth management services across the bank's Metro region. 

"Harris Regional Presidents must be strong leaders, both within the bank and within the community," said Tom Bolger, Harris' district executive for Wisconsin. "With more than 20 years experience serving the financial services needs of Wisconsin-based consumers and businesses, Jill is well-positioned to lead Harris' operations in our Metro region. She has a proven track record as a successful leader and is dedicated to providing exceptional service to customers."

Investment advisors form new Milwaukee company
A team of local investment professionals have formed 1492 Capital Management LLC in Milwaukee's Historic Third Ward.

The company, which opened an office at 309 N. Water St., will provide investment advisory services to institutional and private clients and initially intends to manage investment products in the small capitalization sector of the public equity market.

The founding principals of the new company are Joseph Frohna and Tim Stracka. The Hawthorne Group of Pittsburgh, Pa., has partnered with 1492 Capital Management and has taken a minority equity ownership position.

1492 Capital Management will have two primary investment strategies - growth and value. The firm's investment products include: Microcap, Small Cap Growth, SMID Cap Growth, and Small Cap Value.

"We have assembled a fabulous team of investment professionals with extensive experience and success in small cap investing. Furthermore, we are thrilled to be partnering with Hawthorne Group in launching our new firm," Frohna said.

Rodney Hathaway, portfolio manager of the Small Cap Value Fund, said, "Setting sail with the team of investment professionals at 1492 Capital Management is a spectacular opportunity. Our group of dedicated analysts and portfolio managers possess the skills and experience that will benefit our clients through both bull and bear markets."

Frohna was the founder and chief executive officer of Cortina Asset Management and lead portfolio manager of the Cortina Small Cap Growth Strategy.

Straka's career covers more than 20 years of institutional sales experience.

Brian Andrew is the chief operating officer and chief compliance officer of the new company. Most recently, Andrew served as president of Ziegler Company's money management subsidiary and mutual fund company.

The new company also includes co-portfolio manager Rob Damron and senior equity analyst Kevin Foll.

State of Wisconsin Markets Lunch Meeting, Nov. 13, 11:30 a.m.-1:30 p.m., Brookfield Suites Hotel and Convention Center, 1200 S. Moorland Rd.; monthly meeting of Wisconsin Innovation Network; featured speaker will be Mike Roth, founding principal of Stark Investments; $25 members, $35 non-members; register at www.wisconsintechnologycouncil.com/events/win.