Ticker Symbol – MI
Date – January 15, 2009 - Closing price $7.93
Announcement - plans to cut 830 jobs, or 8% of its workforce, and would give no bonuses to its executives for 2008. It also reduced the annual cash retainer for its directors by 25% and slashed its quarterly dividend to 1 cent a share. Read Full Story
Marshall & Ilsley Corporation provides diversified financial services to corporate, institutional, government, and individual customers in the United States. Its Commercial Banking segment provides various commercial, corporate, and real estate banking products and services, including traditional commercial loans and lines of credit, letters of credit, asset-based lending, equipment financing, mezzanine financing, global trade and foreign exchange services, treasury management, and other financial services to middle market, corporate, and public sector customers, as well as secured and unsecured lines of credit, construction loans, and land acquisition and development loans for commercial real estate and correspondent banking markets.
The company’s Community Banking segment offers consumer and business banking products and services, including mortgages, home equity loan and lines, credit cards, student loans, personal lines of credit and term loans, demand deposit accounts, interest bearing transaction accounts, and time deposits, as well as commercial real estate construction loans, agricultural loans, and secured and unsecured lines and term loans.
Its Wealth Management segment provides asset management, trust, brokerage, life insurance, and advisory services. Marshall & Ilsley Corporation also offers derivative, currency conversion, and foreign exchange risk management services, as well as wholesale home equity consumer lending, indirect automobile financing, and affinity banking services.
As of March 11, 2008, it operated 193 offices in Wisconsin, 50 locations in Arizona, 32 offices in central Indiana; 31 offices along Florida's west coast and in central Florida; 14 offices in Kansas City and nearby communities, Missouri; 23 offices in metropolitan Minneapolis/St. Paul and 1 in Duluth, Minnesota; 1 office in Las Vegas, Nevada; and 17 offices in the greater St. Louis area, Missouri. The company was founded in 1847 and is headquartered in Milwaukee, Wisconsin.
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