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BREAKING NEWS / URGENT: The State Supreme Court upholds Act 10, Voter ID, and the state's domestic partnership registry

MADISON, Wis (WSAU)  - The Wisconsin State Supreme Court upheld Act 10, the state law that limits the collective bargaining rights of state employees. The law from three years ago sparked protests at the state capital and led to the recall attempt against Governor Scott Walker. The court's ruling in favor of Act 10 was 5-2. Justice Michael Gableman wrote the lead opinion, which was also signed by Justices David Prosser, Pat Roggensack and Annette Ziegler. Justice Patrick Crooks concurre...

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Johnson Bank deemed profitable by federal regulators

Johnson Bank logo
Johnson Bank logo

RACINE, WI (WTAQ) - Wisconsin’s second-largest home-owned bank is profitable again.

And federal regulators say the Johnson Bank of Racine no longer needs special government scrutiny.

The bank saw its capital funding went down due to bad loans during the Great Recession. Since then, Johnson Bank obtained new leaders. And the Racine family that owns SC Johnson invested $235 million to restore the bank’s federal status of being well-capitalized.

The government said Johnson Bank had a net income of $15 million from January through September.

Johnson Financial Group president Tom Bolger said the bank has made good progress in returning to profitability – and the ending of the scrutiny means that regulators are again confident that Johnson Bank has a strong financial position.

The bank was under a federal agreement since May of last year to take a number of steps to strengthen the business.