- Marshall & Ilsley
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Marshall & Ilsley Corporation 
,Type subsidiary Industry banking Founded 1847 (Samuel Marshall & Co.) Headquarters Milwaukee, Wisconsin, USA Key people Dennis Kuester (Chairman)
Mark Furlong (President/CEO)Products retail and commercial banking, trusts and investment management Revenue $4.025 Billion USD (2008) Net income 
$2.043 Billion USD (2008)Parent Harris Bank, Bank of Montreal Website www.mibank.com (Consumer Banking)
www.micorp.com (Corporate Site)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. M&I 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.[citation needed] Fortune magazine lists the company as the 18th-largest commercial bank in 2006, based on revenues. 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; 26 offices in metropolitan Minneapolis/St. Paul (Twin Cities), and one in Duluth, Minnesota; one office in Las Vegas, Nevada; 16 offices in the greater St. Louis area; and 32 offices in the greater Indianapolis area.
Marshall & Ilsley footprint
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.
In 2007, Metavante Corporation, formerly a wholly owned subsidiary known as - Marshall and Ilsley Data Services, was spun off into a separate publicly traded company and began trading on the New York Stock Exchange.
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]
In late summer of 2010, M&I Bank additionally completed the acquisition of Southwest Bank.
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 threshold that former regulators have stated can wipe out a bank’s equity and threaten its survival.[4]
On December 17, 2010, Bank of Montreal (BMO) agreed to purchase Marshall & Ilsley in an all-stock transaction valued at about $4.1 billion USD. It is expected that Marshall & Ilsley will be combined with BMO's Harris Bank subsidiary based in Chicago, IL.[5][6]
On April 5, 2011 bank officers from M&I Bank, Harris Bank, and the Bank of Montreal announced the name of the bank after the merger will be "BMO Harris Bank." Both M&I Bank and Harris bank will be affected by the name change. The new logo will be similar to BMO's logo. The difference is the words "Bank of Montreal" will be replaced with "Harris Bank." The name change to "BMO Harris Bank" will take place over a span of 18 months.[7]
On July 5, 2011, BMO Financial Group acquired Marshall & Ilsley Corporation through its subsidiary BMO Financial Corp. (formerly Harris Financial Corp.). At the time of the acquisition, certain bank mergers also occurred. M&I Marshall & Ilsley Bank, M&I Bank N.A. (successor to M&I Bank FSB), and The Harris Bank N.A. merged into Harris N.A. At the time of these mergers, Harris National Association changed its name to BMO Harris Bank National Association.References
- ^ "M&I participates in FDIC program". December 5, 2008. http://www.bizjournals.com/milwaukee/stories/2008/12/01/daily60.html?ana=from_rss.
- ^ "First Indiana to be Acquired by Wisconsin Bank". Inside INdiana Business. http://www.insideindianabusiness.com/newsitem.asp?ID=24270. Retrieved 2008-02-16.
- ^ "M&I completes First Indiana deal". The Business Journal of Milwaukee. January 2, 2008. http://www.bizjournals.com/milwaukee/stories/2007/12/31/daily6.html?ana=from_rss. Retrieved 2008-02-16.
- ^ Levy, Ari (August 24, 2009). "Toxic Loans Topping 5% May Push 150 Banks to Point of No Return". Bloomberg News (New York City, NY). http://www.bloomberg.com/apps/news?pid=20601087&sid=aTTT9jivRIWE.
- ^ Perkins, Tara; Tim Kiladze (December 17, 2010). "BMO to buy U.S. bank for $4.1-billion". The Globe and Mail (CTVglobemedia). http://www.theglobeandmail.com/globe-investor/bmo-to-buy-us-bank-for-41-billion/article1841824/. Retrieved 2010-12-17.
- ^ Marshall & Ilsley’s Shotgun Marriage
- ^ ""It's official: M&I is absorbed by Canada's BMO", "Milwaukee Journal Sentinel", July 6, 2011". Jsonline.com. 2011-07-06. http://www.jsonline.com/business/125042639.html. Retrieved 2011-07-06.
External links
Major companies based in Milwaukee Categories:- Companies listed on NASDAQ
- Companies based in Milwaukee, Wisconsin
- Companies established in 1847
- 1847 establishments in the United States
- Banks based in Wisconsin
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