trending Market Intelligence /marketintelligence/en/news-insights/trending/qYic0qucXxa-XBIGMRzEQg2 content esgSubNav
In This List

CIB Marine Bancshares to receive $1.3M in asset purchase settlement

Blog

How Financial Institutions are Managing Exposure to U.S. Municipals

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

Blog

Top 100 Banks: Capital Ratios Show Resilience to the Pandemic

Blog

Banking Essentials Newsletter: October Edition


CIB Marine Bancshares to receive $1.3M in asset purchase settlement

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. Thecompany will record the transaction as loan loss reversal.

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.