CIB Marine BancsharesInc. will receive approximately $1.3 million net of costs to settleclaims related to asset purchase transactions.
The agreement, which will be paid in a structured settlement,relates to asset purchase transactions that incurred in 2006 and 2007. The companyexpects to receive the majority of settlement in the second half.
The Waukesha, Wis.-based company reported second-quarter netincome of $1.2 million, or 3 cents per diluted share, compared to a loss of $143,000,or 1 cent per diluted share, in the second quarter of 2015.