Financial institutions

Independent Banker magazine has named three Wisconsin bankers to its list of eight "rising stars" for 2005.

The magazine, published by the Independent Community Bankers of America, picked the winners for excellence in banking and service to their communities.

The bankers named were: Scott Stewart, bank card representative at State Bank of Cross Plains; Lisa Ruhland, compliance officer for Community Bank Spring Green and Plain; and Corey Davis, chief technology officer for Richland County Bank in Richland Center.

No other state had more than one banker on the list.

Monona bank opens Cottage Grove office

Monona State Bank has opened a second location in Cottage Grove, marketing director Fran Ebert said. The $2 million, 8,700-square-foot office has eight employees, including six new hires, and has a community room that will seat 50 people, Ebert said. Monona State Bank now has 70 employees, she said.

CUNA and Affiliates offers wider services

CUNA and Affiliates of Madison has contracted with John M. Floyd & Associates of Baytown, Texas, to offer expanded consulting services to its member credit unions. CUNA product manager Doug Tangwall said the consulting services include analysis to improve efficiency, marketing expertise and help in increasing fee or service charges to make up for interest income lost because of rising interest rates.

Two area banks to merge

The 114-year-old Peoples State Bank of Mazomanie and Community Bank Spring Green and Plain plan to merge.

Subject to approval by shareholders and federal and state regulators, the agreement would create The Peoples Community Bank that could more cheaply offer the technologies and services needed to satisfy customers, said Gary Harrop, president and chief executive of Peoples State Bank.

The deal could close by summer, and the banks would save about $1.3 million a year by closing one bank office and eliminating eight to 10 jobs, he said.

CUNA Credit Union offers 40-year mortgage

CUNA Credit Union of Madison has introduced a 40-year fixed-rate mortgage, said Christine Haroldson, director of mortgage operations. The loan is designed for clients who are having difficulty buying a home, but it is available to all consumers, she said.

U.S. Bank to move Hilldale branch

U.S.Bank is moving its busiest branch from the Hilldale Shopping Center to a location just across the street.

U.S. Bank lost its longtime lease on the property at the southwest corner of University Avenue and Midvale Boulevard, spokeswoman Lisa Clark said. A new, smaller branch will be built at 3609 University Ave. at the site of a former Amcore Bank branch.

Clark said the 3,500 squarefoot, full-service branch would cost about $1.4 million and have three drive-through lanes and parking spaces.

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