34
Wisconsin Community Banker
May/June 2014
CHANGING SCENE
At the time of the ranking, First
Business had a three-year average
ROE of 13.27 percent.
Nicolet National Bank
Breaks Ground
GREEN BAY—Nicolet National Bank
is building a new office in Medford,
where community and bank leaders
recently celebrated the groundbreak-
ing of the $3 million project. The new
building will cover more than 10,000
square feet.
Medford Mayor Mike Wellner
says the project is sign of growth in
Medford.
“We have a new hospital, we’re
redoing a lot of things in our city, and
this bank will be very visible to people
as they drive through,” Wellner said.
The new building is expected to be
completed by this fall.
Business Microloan
Program Gets Boost
MADISON—The Wisconsin Eco-
nomic Development Corp. has
announced a $100,000 grant from its
Capital Catalyst Program matched by
$100,000 more from five Northeastern
Wisconsin banks. The infusion gives
the microloan program $584,000 in
available money and boosts its assets
to more than $1 million.
Since its founding in 2011, the
program has made 27 loans valued at
$900,000 to 19 companies. Five bor-
rowers repaid their loans in full and
one defaulted owing $70,000. The
loss was shared by the chamber and
the banks that support the program.
That compares with a Small Busi-
ness Administration default rate of 10
percent.
Twelve Northeastern Wisconsin
banks provided money to the pro-
gram, including Associated Bank
Green Bay, Bank First National, Bay-
lake Bank, Citizens Bank (now First-
Merit Bank), Denmark State Bank,
Johnson Bank, BMO Harris Bank,
Nicolet National Bank, The Business
Bank, Union State Bank, Wisconsin
Bank & Trust, and Wells Fargo Bank.
Five—Bank First National, Nicolet
National, The Business Bank, Union
State, and Wisconsin Bank—provided
money to match WEDC’s grant, which
includes $34,000 to provide as grants
to businesses. The grant money might
be used for such items as contracting
with a patent attorney or an accoun-
tant to help set up a business.
The program loans between $5,000
and $100,000 to growing and startup
businesses that are considered too
risky for traditional bank lending. It
also can serve as a gap lender when
banks don’t want to lend the full
amount needed.
Minnesota Woman Gets
Prison Term
ST. PAUL, Minn.—A suburban Twin
Cities woman received a three-and-a-
half year sentence in a federal prison
for robbing five banks: two in western
Wisconsin and
three in Minne-
sota. Ranya Al-
Huthaili, 23, of
Roseville, Minn.
was also ordered
to pay back what
she stole—over
$20,000 in all.
Al-Huthaili
was arrested last
September after
she bought a
laptop with the
money she stole
from the Dairy
State Bank at
Menomonie. The
other Wisconsin
heist occurred at
First State Bank & Trust in Hudson.
In each hold-up, she handed a note
to a teller, demanding money. “I have
a gun,” the note read. “Do not make
noise. You have one minute to give me
the money.”
Al-Huthaili was apprehended after
she left a cell phone in the restroom of
the Hudson bank.
A report in The Daily Beast on
May 10 noted that Al-Huthaili, who
emigrated from Saudi Arabia with her
mother at age 17, was involved with
a “Thomas Rubino.” He claimed that
he needed $50,000 to escape his life
of organized crime. After she gave
him some money, he changed his
story, claiming that he had cancer and
needed to pay for treatment.
Spring Bank Featured
BROOKFIELD—Spring Bank’s strat-
egy to reduce compliance costs was
featured in the ABA Journal of May 9.
The bank, which opened in 2008, hires
out its compliance officer, Judy Etta.
She has been in banking for 50
years, beginning her career at a com-
munity bank while still in school.
Starting as a consultant to Spring
Bank, Etta eventually became an
employee, working four days a week
while retaining her other clients. In
addition, Spring Bank promoted her
expertise in compliance tasks—for
hire. The staff-for hire arrangement
gives the bank flexibility, and client
banks have full confidentiality when
Etta works for them.
FNB Fox Valley to
Expand
NEENAH—First National Bank –
Fox Valley (FNB Fox Valley), has
announced plans to expand with the
construction of an additional branch
located on Northland Avenue in
Appleton.
FNB Fox Valley’s new branch will
be located across from Northland
Mall at 835 W. Northland Ave. The
bank will occupy approximately 4,200
square feet, leaving additional square
footage available for lease from Bom-
ier Properties. FNB currently has loca-
tions in Neenah, Menasha, Oshkosh,
and the east side of Appleton.
Construction is on track for
