From Wikipedia, the free encyclopedia
|
|
This article may need to be updated. Please update this article to reflect recent events or newly available information, and remove this template when finished. Please see the talk page for more information. (January 2010) |
Marshall & Ilsley Corporation (also known as M&I Bank) is a diversified financial services corporation headquartered in Milwaukee, Wisconsin, USA, with $63.5[1] billion in assets. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin-based bank, with 194 offices throughout the state. In addition, M&I has 45 locations throughout Arizona; 17 offices in Kansas City and nearby communities; 17 offices on Florida’s west coast; 17 offices in metropolitan Minneapolis/St. Paul, and one in Duluth, Minn.; and one office in Las Vegas, Nev. M&I’s Southwest Bank subsidiary has 16 offices in the greater St. Louis area.
In December 2006, M&I signed a definitive agreement to acquire United Heritage Bankshares of Florida with 13 locations in the Orlando area. The transaction, expected to be completed in the second quarter of 2007, will give M&I 30 branches along Florida’s west coast and central Florida. Metavante Corporation, formerly a wholly owned subsidiary, provides a full array of technology products and services for the financial services industry. M&I also provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments, and insurance services from offices throughout the country and on the Internet (www.mibank.com or www.micorp.com). M&I’s customer-based approach, internal growth, and strategic acquisitions have made M&I a nationally recognized leader in the financial services industry. Fortune magazine lists the company as the 18th-largest commercial bank in 2006, based on revenues.
On January 2, 2008, M&I announced it had completed the acquisition of First Indiana (NASDAQ: FINB), which had 32 locations in central Indiana, for about $529 million.[2][3]
[edit] Caught up in the financial crisis
In mid-August 2009 the bank was named as one of the biggest of more than 150 U.S. lenders which own nonperforming loans that equal 5 percent or more of their holdings. 5 percent is a threshhold that former regulators have stated can wipe out a bank’s equity and threaten its survival.[4]
[edit] References
[edit] External links
