WisBusiness: Pair of Milwaukee-area banks thriving in tough economy

By WisBusiness Staff

As banks nationwide suffer along with the rest of the economy, two Milwaukee-area banks are touting their strength during the downturn.

— North Shore Bank today announced earnings of $8.03 million for calendar year 2008, an 8.1 percent increase over $7.43 million for 2007. North Shore Bank officials said the rise illustrates the bank’s secure position as the entire banking industry continues to face deep economic challenges.

“To experience a solid earnings jump as many of our competitors continue to suffer heavy losses is a sign that North Shore Bank is standing strong amid the ongoing crisis,” said James F. McKenna, the bank’s president and CEO. “While other banks have been forced to seek financial assistance from the federal government, North Shore Bank remains well-capitalized and secure.”

North Shore Bank, headquartered in Brookfield, has assets of nearly $1.9 billion and 43 offices throughout eastern Wisconsin and northeastern Illinois.

— Over the past year Milwaukee-headquartered Securant Bank & Trust has experienced a 21.4 percent growth in assets and a 20 percent growth in staff while expanding its services and adding locations. The 95-year-old community bank plans to open a new branch – its fifth in the metro area – in Elm Grove on Feb. 1.

“We are not new to banking. Our assets and infrastructure and personnel have been in place and performing for a long while,” said David Davis, Securant Bank & Trust president and CEO. “We have a strong capital position, money to loan and our commitment is helping clients thrive by providing financial solutions.”

Securant, formerly known as Milwaukee Western Bank, has assets of $215 million and four metro locations.