najoomi asli amil baba kala jadu expert rawalpindi bangladesh uk usa
marshall & llsley corp annual reports2000
1. At M&I, we live our mission on a
daily basis by aspiring to excellence
in everything we do . . . for our
customers, our employees, our
shareholders, and the community.
M &I C
ARSHALL LSLEY ORPORATION
2002 Corporate Report
2. M &I C ®
ARSHALL LSLEY ORPORATION
2002 Financial Highlights
2002 2001 2000
($000’s except share data)
OPERATING INCOME $484,549 $420,976 $376,332
NET INCOME 480,327 337,485 315,123
PER SHARE
Diluted – Operating Income $2.18 $1.93 $1.73
Diluted – Net Income 2.16 1.55 1.45
Dividends Declared 0.625 0.568 0.518
Shareholders’ Equity 13.51 11.65 10.60
FINANCIAL CONDITION – AVERAGE
Assets $29,202,650 $26,370,309 $25,041,777
Loans 21,028,444 18,201,142 17,117,909
Deposits 18,642,987 17,190,591 17,497,783
Shareholders’ Equity 2,766,690 2,429,559 2,148,074
OTHER SIGNIF ICANT DATA
Return on Average Shareholders’ Equity
Operating Income 17.51% 17.33% 17.52%
Net Income 17.36 13.89 14.67
Return on Average Assets
Operating Income 1.66 1.60 1.50
Net Income 1.64 1.28 1.26
Net Loan and Lease Charge-Offs to
Average Loans and Leases 0.21 0.22 0.12
Allowance for Loan and Lease Losses to
End of Period Loans and Leases 1.42 1.39 1.34
See Appendix for Reconciliation of Operating Income to Net Income
The summary financial and other information contained herein is not complete and should be read in conjunction
with Marshall & Ilsley Corporation’s Annual Report on Form 10-K for the year ending December 31, 2002.
one
3. O M
UR ISSION
M &I C
ARSHALL LSLEY ORPORATION
is committed to an environment in which . . .
C USTOMERS
. . . our Customers receive high-quality financial services
consistent with sound, honest, and progressive business practices.
E MPLOYEES
. . . our Employees are inspired to excel and grow,
both personally and professionally,
in an atmosphere of trust, integrity, and respect.
S HAREHOLDERS
. . . our Shareholders receive a favorable,
long-term return on their investment.
C OMMUNITY
. . . the Community becomes a better place to live
as a result of our leadership and commitment.
4. At M&I, we live our mission on a daily basis by aspiring to excellence
“
in everything we do.” – Jim Wigdale, Chairman of the Board, and
Dennis Kuester, President and Chief Executive Officer
T O S
O UR HAREHOLDERS
Our customers. Our employees. Our shareholders. Operating income per share increased 13.0 percent in
The community. 2002 over 2001.
You are the stakeholders upon which our corporate Despite the slow economy, your Corporation
mission statement is based, and in 2002, each decision continued to grow through increasing market share
we made was with you in mind. We were again and targeted expansion. We chose markets in which
challenged with a slow economy, but our focus we would have good business opportunities and
remained the same: to conduct our business in a where our community bank focus would be an
manner that best serves our stakeholders. This phi- attractive alternative. In June, we announced the
losophy continues to serve us well, and we finished acquisition of Mississippi Valley Bancshares, Inc.,
the year as a solid performer within the industry. a move that gave us a new presence in St. Louis,
and an increased presence in Arizona. In addition,
We ended the year with $32.9 billion in assets. Net the successful integration of National City
income for the year ended December 31, 2002 was Bancorporation, Richfield State Agency, Inc., and
$2.16 per diluted share, or $480.3 million, as com- Century Bancshares, Inc. into the M&I system created
pared to $1.55 per diluted share, or $337.5 million, new opportunities to grow in the Minneapolis/
in 2001. Net income per share for 2002 increased St. Paul market. We look forward to continued
39.4 percent over 2001. Operating income for the growth in these competitive and dynamic markets.
year ended December 31, 2002 was $2.18 per M&I also welcomed many new shareholders this year
diluted share, or $484.5 million, as compared to as a result of these acquisitions, and we will work
$1.93 per diluted share, or $421.0 million, in 2001. hard to ensure their investment is a profitable one.
three
5. We experienced a solid year in 2002, with successes At M&I, we live our mission on a daily basis by
throughout the Corporation. Our dedication to aspiring to excellence in everything we do . . . for our
maintaining good credit quality served us well, customers, our employees, our shareholders, and the
enabling us to concentrate on growing our business. community. We will continue to do it with the honesty,
M&I also benefited from a full year of increasingly integrity, and respect upon which your Corporation
efficient operations as a result of the charter consoli- was founded.
dation completed in 2001.
Sincerely,
Transactional deposit growth continued to be strong,
as were our home equity lending and dealer finance
businesses, which both performed well. M&I Mortgage
Corp. experienced all-time record production with
increased production profitability. M&I Investment
Management Corp. maintained a stable asset base
under very difficult market conditions, primarily due James B. Wigdale
to their successful sales efforts to institutional and high- Chairman
net-worth investors.
Metavante Corporation successfully signed new
outsourcing clients in 2002 for financial account
processing, electronic funds transfer, and wealth
management. During the year, Metavante also
completed two acquisitions – Paytrust and Spectrum Dennis J. Kuester
EBP – that helped to further establish our technology President and Chief Executive Officer
subsidiary as a leader in the fast-growing field of
electronic presentment and payment.
These successes would not have been possible without
our dedicated employees. Their expertise and commit-
ment are unparalleled in the financial services industry.
6. (Above) By providing resources necessary to restore the Beloit Hilton Hotel in Beloit, Wisconsin, M&I
Community Development Corporation has helped to enhance the local economy. The historic building now
features inviting retail space and new housing opportunities.
five
7. Our customers receive high-quality financial services consistent with sound,
honest, and progressive business practices.
O C
UR USTOMERS
Our critical linkagesTM philosophy served our customers We also completed the acquisitions of Richfield
well in 2002, many of whom have been impacted by State Agency, Inc. and Century Bancshares, Inc. in
the challenging economy. Throughout the year, our Minnesota, expanding our banking franchise and
customers sought our advice and expertise to help them customer base in the Twin Cities area. We currently
manage their finances prudently and proactively and, have 10 offices in metropolitan Minneapolis/
through our critical linkages, we were able to provide St. Paul, in addition to our new location in
our customers with access to the people and resources Duluth, Minnesota.
they needed throughout the Corporation. This proac-
tive business strategy is nothing new. Our consultative An enhanced presence in Arizona, including offices
approach continues to set us apart from the competition in Sedona and Prescott, and a new location in the
and is a key factor in why our customers decide to do Tucson area, in addition to our offices in metropolitan
business with M&I. Phoenix, has given us significant opportunities
in this prosperous region of the country, where we
Our financial services network grew substantially in now have 25 locations. We continue to explore
2002 through a series of significant acquisitions. In targeted expansion in this dynamic market, with
June we announced the acquisition of Mississippi plans to open several new locations in 2003.
Valley Bancshares, Inc. in St. Louis, Missouri, and
its Southwest Bank affiliate, with six offices in the M&I Marshall & Ilsley Bank continues to maintain
St. Louis area, one office in Phoenix, Arizona, its position as the market share leader in Wisconsin,
and one office in Belleville, Illinois. Our plans for with a network of 214 offices throughout the state,
Southwest Bank include expansion across all business in addition to locations in Las Vegas, Nevada, and
lines in the St. Louis area. Naples, Florida.
8. (Opposite) Tom Bolger, President, M&I Marshall & Ilsley Bank, with Barbara Parish, President and Chief
Executive Officer, Wis-Pak, Inc., Watertown, Wisconsin. Wis-Pak, an M&I commercial banking customer,
is a supplier of canned and bottled soft drink products throughout the upper Midwest.
(Above) Bob Nilles, Vice President and Branch Manager, M&I Bank, Capitol Square, in Madison, Wisconsin,
meets with personal and commercial business client Jacqui Leighton, president of Panigen Inc., a company
that specializes in biomedical services.
seven
9. Our numerous retail locations, in addition to our First-time banking customers also had new opportu-
comprehensive online banking services and telephone nities in 2002 with the introduction of two products
banking through M&I Direct , combine to provide designed for individuals who may not have an employ-
®
our customers with the convenience of banking any- ment or credit history. Savings account customers
time, anywhere. Our customers continue to have can benefit by opening an M&I Thrift Savings
access to a superior line of products, matched only account, and customers interested in borrowing as
by the high level of service they receive. little as $1,000 can qualify through the M&I Credit
Builder Loan program.
Many homeowners and first-time buyers refinanced
or obtained new financing through M&I Mortgage Throughout 2002, our commercial customers relied
Corp., taking advantage of the lowest rates in 40 on the expertise of our commercial bankers to meet
years. They received competitive rates, fast approvals, their unique challenges head-on. The year was
and the best service available in the market. marked by solid commercial lending activity and the
historically excellent credit quality for which M&I is
Our high-net-worth customers are enjoying the known. In addition, a focused sales effort by regional
expansion of M&I Private Bank, through an integrated commercial teams continued to have a positive impact
banking team, unique products, and the financial on not only our customer retention and satisfaction
advice they need to manage complex accounts. but also our business development opportunities.
We continue to expand our Private Bank offerings
throughout the M&I system. And all of our customers, Two new products provided our treasury manage-
regardless of portfolio size, continue to benefit from ment customers with unique business solutions.
the expertise of M&I Financial Advisors. A team of Innovative Stored Value Cards provide corporate
over 100 advisors now assists customers with services customers with a unique way to disburse funds to
including financial planning and investments, portfolio employees or business associates. Whether the funds
management, insurance, and trust services. In 2002, are for payroll, benefits, or employee or vendor
M&I Financial Advisors reached a new sales record recognition, stored value cards offer a convenient and
for the Marshall Asset Allocation Program (MAAP) efficient alternative to a check. M&I’s new Civic
for the fifth consecutive year. The MAAP program Checking product offers flexible deposit solutions for
provides eight professionally managed portfolio nonprofit organizations as part of an overall package
strategies designed to provide a wide range of invest- designed to provide the tools needed to maximize the
ment choices across the risk-and-reward spectrum. return on deposits.
10. As a leading provider of services to financial institutions, successful product made up of M&I’s own Marshall
M&I’s Correspondent Banking division continued to Funds and leading outside mutual funds. This product
grow, providing financial institutions across 24 states solution, in combination with distribution outsourcing,
with a wide variety of services, including lending, is another example of the company’s commitment
investment, international, and treasury management. to better serve our existing customers and attract
new business.
M&I’s small-business lending activity also grew in
2002. As the number one small-business lender in M&I Investment Management Corp. maintained a
the state of Wisconsin, M&I’s small-business portfolio, stable asset base despite difficult market conditions.
consisting of borrowing relationships up to $500,000, Institutional sales from municipalities, private foun-
has almost doubled in the past two years, growing dations, corporations, and community organizations
to over $975 million by the end of the year. considerably exceeded previous years. In addition,
the Marshall Money Market Fund, one of M&I’s
Marshall & Ilsley Trust Company N.A. currently 11 mutual funds, completed its fifth consecutive
serves 1,200 company relationships through its year in the top six percent for investment performance
Commercial Trust services, including over 270,000 within its peer group.
participants in 401(k) and other defined contribution
retirement plans. During 2002, the company was M&I Support Services Corp., a leading provider of
recognized in PLANSPONSOR magazine as one item processing and lockbox solutions for financial
of the two highest-rated retirement plan providers institutions, continued to emphasize its dedication
in the defined contribution industry based on a survey to providing superior customer service by achieving
of plan sponsors rating their current retirement ISO 9001:2000 certification in addition to its
providers. Also, 100 percent of our surveyed customers ISO 9002 certification. This requirement standard
were willing to recommend M&I Trust Company is specifically used to assess an organization’s ability
to a colleague. The company’s focus on customer to meet customer and applicable regulatory require-
satisfaction has benefited plan sponsors and plan ments. M&I Support Services Corp. currently
participants as evidenced by the results of surveys processes more than 800 million items annually
and customer feedback. for its customers.
In 2002, Marshall & Ilsley Trust Company developed This was a challenging year for our customers;
the M&I MaxAdvantage IRA® account for rollover however, we worked hard to find a solution
retirement plan dollars. This innovative new product, for any challenge our customers faced. With a
designed for individuals who are retiring or have positive outlook, we approached each situation
rollover assets, provides a wide range of individual as an opportunity to make a difference for our
mutual fund choices from some of the country’s customers through sound, honest, and progressive
premier money managers. The product also utilizes business practices.
the Marshall Asset Allocation Program, the highly
(Opposite) Kelli Glynn (right), an Investment Representative with M&I Financial Advisors, provides M&I
customers Edward and Judith Clark with the expertise they need to manage their investments.
nine
11. Our employees are inspired to excel and grow, both personally and
professionally, in an atmosphere of trust, integrity, and respect.
O E
UR MPLOYEES
Attracted to M&I by its reputation, business we hire are referred by a current M&I employee
philosophy, and career development opportunities, through our employee referral program. We believe
M&I’s employees are highly respected for their this is a strong testament to our reputation among
professionalism, product knowledge, dedication, employees and within the communities we serve.
and strong work ethic. This program, in addition to the professional
development and career opportunities at M&I,
Our workforce is comprised of quality people who continues to have a positive impact on the quality
consistently provide our customers with the high of our workforce, job satisfaction, and our high rate
level of service expected of M&I. We value high of retention.
performance and reward our employees for their
individual contributions to our company’s success. The values of our employees align closely with those
of M&I, serving as a significant contributor to our
We respect and benefit greatly from the diverse com- success. This not only fosters an environment of
munities we serve; therefore, maintaining a workforce pride and satisfaction among the individuals who
that mirrors this diversity continues to be a priority have chosen a career with M&I, but is also critical
for us. Within our communities, M&I customers in maintaining our high standards of excellence.
know our employees not only as financial services
professionals, but also as their neighbors, friends, Our employees are considered among the best in
and community leaders. In turn, our employees have the industry; their commitment to providing service
recommended their friends and family members to with a high level of trust, integrity, and respect
work at M&I. Today, over 40 percent of the employees is unmatched.
12. (Opposite) Dennis Kuester (center), President and Chief Executive Officer, Marshall & Ilsley Corporation,
meets with Gina Peter, Senior Vice President, Commercial Banking, and José Mantilla, Vice President of
Treasury Management Services.
(Above) Nikkie Pruitt, Personal Banking Officer, M&I Bank, Scottsdale, Arizona, joins business banking
customer Mitch Kelldorf and his daughter Moriah in tossing a coin into the office’s wishing fountain, the
proceeds from which benefit the Make-A-Wish Foundation®
.
eleven
13. Our shareholders receive a favorable, long-term return on their investment.
O S
UR HAREHOLDERS
For more than 40 years, educated investors have and institutional investors. As a result of these efforts,
purchased Marshall & Ilsley Corporation stock for and our recent acquisitions, we welcomed many new
its quality and value. They have been rewarded with shareholders in 2002; we are confident they will find
increased earnings, 30 years of increased dividends, their investment in M&I to be a solid one.
and a solid, long-term investment.
Our business strategy is simple and straightforward.
Early in 2002, M&I was honored to join the S&P 500, M&I continues to do business in markets and indus-
one of the most widely used benchmarks of U.S. equity tries we understand and in which we excel. We have
performance. In June, we announced a two-for-one chosen to expand our business in high-growth markets
stock split, providing our shareholders with increased by acquiring solidly run financial institutions,
flexibility in managing their M&I investment. carefully selecting acquisition opportunities that
Throughout the year, M&I repurchased over five will both be accretive to our earnings in the long run
million shares of its stock through the Corporation’s and provide a valuable return to our shareholders.
share repurchase program, making treasury shares
available for employee benefit plans and other M&I’s philosophy of not taking short-term actions
corporate purposes. that will adversely affect long-term viability and
shareholder value has perhaps never been as crucial
Our increased commitment to communicating with as it is now. A difficult economy presents many
our shareholders, through participation in national challenges, but no matter what the challenge, we
investor conferences and one-on-one analyst meetings, believe the solution will provide added value for
has strengthened relationships with our individual our shareholders.
14. (Opposite) Mark Furlong (right), Executive Vice President and Chief Financial Officer, Marshall & Ilsley
Corporation, and David Long, Senior Research Analyst, Robert W. Baird & Co., Inc., Chicago.
(Above) Burleigh Jacobs (right), Director Emeritus, a member of Marshall & Ilsley Corporation’s board
of directors for 35 years, and a long-time shareholder, with grandchildren and shareholders Dexter Jacobs,
Carolyn York (seated), and Susan Jeide.
thirteen
15. The community becomes a better place to live as a result of our leadership
and commitment.
T C
HE OMMUNITY
We are proud to be a community bank, and are effort has enabled M&I to have a direct impact on the
pleased to have the opportunity to commit the prosperity of our communities.
resources needed to help our communities thrive.
Through our corporate donations we’re able to make We’re also particularly proud of the efforts of our
a significant difference in the lives of men, women, employees, who, on a daily basis, can be seen volun-
and children each year. teering their time and talents to make a difference.
They are the true leaders of our communities, whether
Prosperous communities, however, depend not only they serve on the board of directors for a local non-
on the financial contributions of their corporate leaders, profit agency, or serve a warm meal to a family in need.
but also on their commitment to the projects that
help energize a community’s economy and improve On September 28, communities across the country
its way of life. For this reason, two years ago, we benefited from the collective volunteer spirit of our
enhanced our community reinvestment activities employees during M&I in the Community Day. More
through the creation of the M&I Community than 2,000 employees coordinated over 80 projects
Development Corporation, an entity that has since involving 107 communities, including food drives, blood
dedicated significant resources to affordable housing drives, community clean-ups, and child-safety projects.
and economic development projects in markets
throughout the country. These efforts not only benefit Supporting the community has always been, and will
low- and moderate-income individuals and small or continue to be, an integral part of our corporate phi-
minority-owned companies, but also preserve the losophy. We do it not for the reward or recognition,
historical integrity of local landmarks. This focused but for one simple reason – it’s the right thing to do.
16. (Opposite) Jim Wigdale, Chairman of the Board, Marshall & Ilsley Corporation, provides visitors from the
Boys and Girls Club and the YMCA with a guided tour of M&I Marshall & Ilsley Bank’s annual holiday
display in downtown Milwaukee, Wisconsin.
(Above) Kelly Leroy (foreground), Metavante Corporation, was one of more than 2,000 M&I employees
who participated in the annual M&I in the Community Day. Sheldon Lenz, M&I Bank, Brookfield,
Wisconsin, and his wife Emily also lent a hand.
fifteen
17. Metavante Corporation – focused on helping its clients drive value in
their business.
M C
ETAVANTE ORPORATION
Focused on Customers to Drive Success Starting in the second quarter, Columbia engaged
Championing a customer-focused attitude through- Metavante to lead a yearlong business improvement
out its organization, consistent with the longstanding assessment with the goal of improving cost efficiencies
M&I philosophy, Metavante CorporationTM met a and enhancing revenue while maintaining the bank’s
challenging environment in 2002 to drive improved commitment to exceptional customer service.
business results in revenue generation and contract
renewals. Metavante continued its emphasis on A new outsourcing client that also engaged the
adopting the client’s perspective by delivering prod- company’s consulting services was Bank of Hawaii,
ucts and services designed to address the retail, a leading commercial bank in Hawaii. In July,
small business, and commercial needs of financial Bank of Hawaii selected Metavante to provide
services providers. Fundamentally, Metavante a comprehensive suite of products and services
remained focused on producing quality products to support deposit and loan transactions, financial
and solutions that help its clients provide economic account processing, consumer and corporate electronic
and competitive value for their businesses. banking services, electronic presentment and payment,
and consulting services.
Leveraging its in-depth expertise in providing
consulting and professional services to its clients, During 2002, more than 30 Metavante outsourcing
Metavante organized a business unit dedicated clients renewed their long-term contracts for
to that task in early 2002. Its results included financial account processing and related products
contracts with existing outsourcing clients such as and services.
Columbia Banking System of Tacoma, Washington.
18. (Opposite) Metavante Corporation Chairman, Chief Executive Officer, and President Joe Delgadillo (left)
talks with John J. Beale, Executive Vice President and Chief Information Officer, City National Bank,
Beverly Hills, California, a long-term Metavante financial account processing client.
(Above) Sasha Huertas assists a customer at one of the Metavante Corporation call centers, which are staffed
around the clock, seven days a week, to provide telephone support to customers of its financial institution clients.
seventeen
19. Growth Through Acquisitions By offering the full range of electronic presentment
Metavante made several strategic acquisitions in 2002 and payment technology, Metavante has solidified its
to fuel market share growth and add important new leadership position in the U.S. marketplace for these
technology. The company added to its end-to-end fast-growing services.
electronic presentment and payment platform by
acquiring electronic bill switching and routing tech- Solutions That Meet Market Needs
nology from Spectrum EBP, one of two acquisitions Building upon the Internet banking technology
completed midyear in its Electronic Presentment and acquired in 2001, Metavante engineered its next-
Payment solution group. The Spectrum technology generation electronic banking platforms for consumer,
had been developed by subsidiaries of three key business, and commercial markets. In 2002, the
Metavante electronic presentment and payment clients: company began to migrate its retail electronic banking
JPMorgan Chase, Wachovia, and Wells Fargo. clients and their customers to the new Consumer
Internet Banking platform and it continued to work
With its July 2002 acquisition of Paytrust, Metavante with its small business and corporate electronic
solidified its unique market position as the industry’s banking clients to plan their 2003 migrations to
only provider of presentment technology for both next-generation products.
paper and electronic documents. The Paytrust con-
sumer bill service provider technology complements Some clients are already benefiting from use of the
the 2001 CyberBills acquisition, and Metavante is new platforms, including Charter One Bank, which
consolidating these systems to a single next-generation in April extended its Metavante contract by signing
platform, which it anticipates introducing in 2003. a long-term agreement for consumer and small busi-
ness Internet banking hosting services, continuing
With its Paytrust acquisition, Metavante also expand- and expanding the bank’s highly successful Internet
ed its existing client relationships with leading financial banking program. In the third quarter, Gomez, Inc.
services providers including American Express and ranked Charter One number two among the best
Citibank. A significant number of new clients signed Internet Web sites. Bank of Montreal licensed the
up for electronic presentment and payment services, Metavante Corporate eBanking solution for its
including Union Bank of California, which will allow Corporate Internet Banking business and the product
its commercial customers to electronically present bills was placed into production in early December.
to their customer base and facilitate payments through Also in the fourth quarter, Winston-Salem, North
the Internet. Carolina-based Branch Banking and Trust Company
20. contracted for Commercial eBanking. The Metavante financial services providers to offer affluent customers
solution will enable BB&T to provide its business and the ability to manage their wealth through the Internet
corporate customers with industry-leading Internet with single sign-on access and a comprehensive view of
banking services. Through this enhanced electronic all their banking and investment relationships. Products
delivery channel, BB&T clients will have access like this are designed to help financial institutions build
to a suite of services designed to meet unique and maintain long-term customer relationships.
business requirements ranging from small businesses
to large corporations. Metavante Enterprise Contact Management (ECM)
helps financial institutions gain understanding about
Another North Carolina-based institution, First individual customer relationships across multiple
Citizens Bank, selected the next-generation document product lines. To enhance sales capabilities, provide
composition software CSF Communication Designer. competitive advantages, and maximize opportunities
®
The new Metavante software will enable First Citizens with their customers, Provident Bank, based in
to develop dynamic, personalized, and Internet-enabled Baltimore; S&T Bank, based in Indiana, Pennsylvania;
customer communications – such as bills, statements, and Park Bank, based in Milwaukee, were among the
letters, notices, direct mail, booklets, and brochures – Metavante clients that added ECM during 2002 to
for its banking customers. Metavante introduced CSF their existing suite of Metavante products and services.
Communication Designer in early 2002 to help clients
streamline the document development process and For owners of small businesses or sole proprietorships,
achieve substantial competitive advantages with Metavante 401(k) Services introduced a defined
increased speed to market. benefit retirement plan, which is one of the first plans
of its type to be marketed to financial advisors on a
Cross selling remains an important opportunity through national basis and through relationships with leading
the Metavante client base of over 5,100 financial institu- institutions. The plan, made possible by recent tax law
tions. For example, an existing trust processing client, changes, enables qualified investors to contribute up to
$100,000, and allows the funds to grow tax-free until
Banknorth Group, Inc. of Portland, Maine, signed a
withdrawal at retirement, providing Metavante clients
long-term agreement for a suite of Electronic Funds
with a significant opportunity to grow investment assets
Transfer and Card solutions, including ATM manage-
under management.
ment, transaction routing and switching, along with
PIN-based card transaction processing.
Focused on helping its clients drive value in their
businesses, Metavante has an ongoing commitment
Innovative Products Boost Client Revenue
to provide its core processing clients with the best
By introducing new products and cross selling them to
technology and support available. This includes
its core clients, Metavante helps financial services
continued investment in research and development,
institutions drive additional revenue. In early 2002,
as well as acquiring new technology, which in 2002
the Wealth Management solution group introduced the
Personal Cash Management product, which enables exceeded $125 million.
(Opposite) The Metavante Command Center provides financial institutions with superior client care by using
cutting-edge technology to monitor the company’s production, open-system client servers, ATM networks, and
data systems, around the clock.
nineteen
21. C ONSOLIDATED
S E
UMMARY OF ARNINGS
Years ended December 31 ($000’s except share data)
2002 2001
INTEREST INCOME
Loans and Leases $1,297,166 $1,358,798
Investment Securities:
Taxable 198,037 270,336
Tax Exempt 60,637 62,273
Short-term Investments 11,496 17,696
Total Interest Income 1,567,336 1,709,103
INTEREST EXPENSE
Deposits 283,385 566,899
Short-term Borrowings 150,310 188,587
Long-term Borrowings 127,343 110,814
Total Interest Expense 561,038 866,300
Net Interest Income 1,006,298 842,803
Provision for Loan and Lease Losses 74,416 54,115
Net Interest Income After Provision for Loan and Lease Losses 931,882 788,688
OTHER INCOME
Data Processing Services 601,500 559,816
Trust Services 120,586 120,827
Other 360,602 336,664
Total Other Income 1,082,688 1,017,307
OTHER EXPENSE
Salaries and Benefits 741,384 678,493
Other 547,541 499,867
Total Other Expense 1,288,925 1,178,360
Income Before Taxes 725,645 627,635
Provision for Income Taxes 241,096 206,659
Operating Income 484,549 420,976
Adjustments (4,222) (83,491)
Net Income $480,327 $337,485
PER SHARE*
Diluted – Operating Income $2.18 $1.93
Diluted – Net Income 2.16 1.55
Common Dividend Declared 0.625 0.568
OTHER SIGNIFICANT DATA
Year-End Common Stock Price $27.38 $31.64
Return on Average Shareholders’ Equity – Operating Income 17.51% 17.33%
Return on Average Shareholders’ Equity – Net Income 17.36 13.89
Return on Average Assets – Operating Income 1.66 1.60
Return on Average Assets – Net Income 1.64 1.28
Stock Splits 2 for 1
*All per share data restated for 2-for-1 stock split effective June 17, 2002
See Appendix for Reconciliation of Operating Income to Net Income
23. C ONSOLIDATED
AV B S
ERAGE ALANCE HEETS
Years ended December 31 ($000’s except share data)
2002 2001
ASSETS
Cash and Due From Banks $708,256 $651,367
Short-term Investments 717,130 503,857
Trading Securities 15,247 21,284
Investment Securities:
Taxable 3,325,568 3,926,737
Tax Exempt 1,224,737 1,269,175
Loans:
Commercial 6,143,862 5,478,342
Real Estate 12,633,208 10,514,536
Personal 1,388,447 1,182,049
Lease Financing 862,927 1,026,215
Total Loans and Leases 21,028,444 18,201,142
Allowance for Loan and Lease Losses 302,664 253,089
Net Loans and Leases 20,725,780 17,948,053
Other Assets 2,485,932 2,049,836
Total Assets $29,202,650 $26,370,309
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest Bearing Deposits $3,509,134 $2,895,083
Interest Bearing Deposits:
Savings and NOW Accounts 2,352,311 1,775,596
Money Market Savings 5,969,544 5,731,794
CDs of $100 or more 2,120,885 2,237,243
Other 4,691,113 4,550,875
Total Deposits 18,642,987 17,190,591
Short-term Borrowings 4,188,339 3,944,160
Long-term Borrowings 2,693,447 1,962,801
Accrued Expenses and Other Liabilities 911,187 843,198
Shareholders’ Equity 2,766,690 2,429,559
Total Liabilities and Shareholders’ Equity $29,202,650 $26,370,309
OTHER SIGNIFICANT DATA
Book Value at Year-End** $13.51 $11.65
Average Common Shares Outstanding** 212,799,996 208,587,816
Shareholders of Record at Year End*** 19,141 19,311
Employees at Year End*** 12,625 11,657
CREDIT QUALITY RATIOS
Net Loan Charge-Offs to Average Loans 0.21% 0.22%
Total Nonperforming Loans* and OREO to
End of Period Loans and OREO 0.85 0.94
Allowance for Loan Losses to
End of Period Loans 1.42 1.39
Allowance for Loan Losses to
Total Nonperforming Loans* 174 154
* Loans and leases nonaccrual, restructured, and past due 90 days or more
** Restated for 2-for-1 stock split effective June 17, 2002
*** Not restated for acquisitions
25. M &I C
ARSHALL LSLEY ORPORATION
Board of Directors
MARSHALL & ILSLEY CORPORATION
770 North Water Street, Milwaukee, WI 53202 (414) 765-7700 www.micorp.com
DIRECTORS EMERITI
OFFICERS DIRECTORS
Oscar C. Boldt
Chairman of the Board Richard A. Abdoo San W. Orr, Jr.
Glenn A. Francke
James B. Wigdale Chairman of the Board, President, Chairman of the Board, Wausau-
Burleigh E. Jacobs
and Chief Executive Officer, Mosinee Paper Corporation
James F. Kress
Wisconsin Energy Corporation
President and Chief Executive Officer Robert J. O’Toole
Don R. O’Hare
Dennis J. Kuester Chairman of the Board and Chairman, President, and Chief
Stuart W. Tisdale
Chief Executive Officer, Executive Officer, A. O. Smith
We Energies James O. Wright
Executive Vice President Corporation
Thomas M. Bolger Gus A. Zuehlke
David L. Andreas Peter M. Platten III
Former President and Vice Chairman of the Board, retired,
Executive Vice President and Chief Executive Officer, Marshall & Ilsley Corporation
Chief Financial Officer National City Bancorporation
Robert A. Schaefer
Mark F. Furlong Andrew N. Baur Former Executive Vice President and
Chairman, Southwest Bank of Chief Operating Officer, retired,
Senior Vice President, General Counsel, St. Louis Security Capital Corporation
and Corporate Secretary
Wendell F. Bueche John S. Shiely
Randall J. Erickson
Chairman, retired, IMC Global Inc. Chairman of the Board, President,
and Chief Executive Officer,
Jon F. Chait
Senior Vice Presidents
Briggs & Stratton Corporation
Chief Executive Officer, eResourcing
Joseph L. Delgadillo
and Executive Search, a division of James A. Urdan
Thomas J. O’Neill
TMP Worldwide, Inc. Partner, retired, Quarles & Brady
John L. Roberts
Timothy E. Hoeksema George E. Wardeberg
Jeffrey V. Williams
Chairman of the Board, President, Vice Chairman, retired,
and Chief Executive Officer, Wisconsin Energy Corporation
CORPORATE AUDIT Midwest Express Holdings, Inc.
James B. Wigdale
Senior Vice President and
Bruce E. Jacobs
Audit Director Chairman of the Board,
President and Chief Executive Officer,
Thomas A. Root Marshall & Ilsley Corporation
Grede Foundries, Inc.
Donald R. Johnson
CORPORATE CREDIT
Chairman of the Board, Modine
Senior Vice President and
Manufacturing Company
Chief Credit Officer
Mark R. Hogan Ted D. Kellner, CFA
Chairman of the Board and
CORPORATE FINANCE Chief Executive Officer,
Fiduciary Management, Inc.
Senior Vice President and
Corporate Controller Dennis J. Kuester
Patricia R. Justiliano President and Chief Executive Officer,
Marshall & Ilsley Corporation
CORPORATE Chairman of the Board and
HUMAN RESOURCES Chief Executive Officer,
M&I Marshall & Ilsley Bank
Senior Vice President
Paul J. Renard Katharine C. Lyall
President, University of Wisconsin
System
CORPORATE MARKETING
Senior Vice President John A. Mellowes
Nancy A. Maas Chairman and Chief Executive
Officer, Charter Manufacturing
Company, Inc.
CORPORATE TREASURY
Edward L. Meyer, Jr.
Senior Vice President and
Corporate Treasurer Chairman of the Board,
Donald H. Wilson Anamax Corporation
26. M &I C
ARSHALL LSLEY ORPORATION
Affiliate Boards of Directors
M&I MARSHALL & ILSLEY BANK
770 North Water Street, Milwaukee, WI 53202 (414) 765-7700 www.mibank.com
DIRECTORS DIRECTORS EMERITI
Richard A. Abdoo Dennis J. Kuester John E. Forester
Chairman of the Board, President, and Chief Executive Chairman of the Board and Chief Executive Officer, Carl L. Gosewehr
Officer, Wisconsin Energy Corporation M&I Marshall & Ilsley Bank Burleigh E. Jacobs
Chairman of the Board and Chief Executive Officer, President and Chief Executive Officer, Orville R. Mertz
We Energies Marshall & Ilsley Corporation David F. Nelson
Thomas M. Bolger James A. Urdan Douglas Seaman
President, M&I Marshall & Ilsley Bank Partner, retired, Quarles & Brady Leo E. Suycott
Stuart W. Tisdale
Executive Vice President, Marshall & Ilsley Corporation George E. Wardeberg
James O. Wright
Vice Chairman, retired, Wisconsin Energy Corporation
Wendell F. Bueche
Chairman, retired, IMC Global Inc. James B. Wigdale
Chairman of the Board, Marshall & Ilsley Corporation
Bruce E. Jacobs
President and Chief Executive Officer, Grede Foundries, Inc.
ARIZONA
COMMUNITY BANK BOARD OF DIRECTORS
John G. Barry Michael K. McCartney
Executive Vice President and Commercial Bank Manager, President, Marshall & Ilsley Trust Company N.A., Arizona
M&I Marshall & Ilsley Bank, Arizona
Paul F. Muscenti
Gary S. Clancy Consultant
Managing Member, Recycled Business Systems, L.L.C.
Charles F. Sands
Vaughn S. Corley President, Nutribiotech LLC; JED C, LLC
Executive Vice President and General Manager, retired,
Lawrence J. Shapiro, M.D.
Arizona Portland Cement Co.
Physician
P. Robert Fannin
Richard H. Whitney
Partner, Steptoe & Johnson, LLP
Partner, Gust Rosenfeld P.L.C.
Michael C. Francis
D. Otis Wolkins
Owner/Manager, Francis Insurance Agency
Vice President, retired, GTE Service Corporation
Dennis R. Jones
Stephen A. Wood
Chairman and President, M&I Marshall & Ilsley Bank,
President, Insurers Administrative Corporation
Arizona
Leyton S. Woolf, Jr.
Thomas C. Lathrop
Owner/Farmer, Woolf Roses, L.L.C.
Chairman, retired, M&I Thunderbird Bank
Susan Goldwater Levine
Executive Director, Hospice of the Valley
MINNESOTA
COMMUNITY BANK BOARD OF DIRECTORS
David Andreas Katie Kelley
Former President and Chief Executive Officer, National Executive Vice President, M&I Marshall & Ilsley Bank,
City Bancorporation Minnesota
Marty Chorzempa William J. Klein
Chairman, retired, Richfield Bank & Trust President, M&I Marshall & Ilsley Bank, Minnesota
Kim Culp David Malmberg
Co-Chairman, M&I Marshall & Ilsley Bank, Minnesota Chairman of the Board, Sagebrush Corporation
Lynn Evans William O. Naegele
Co-Chairman, M&I Marshall & Ilsley Bank, Minnesota Owner and Chairman of the Board, Restaurants No Limit, Inc.
Esperanza Guerrero-Anderson Roger Scherer
President and Chief Executive Officer, Milestone Growth Chairman of the Board, Scherer Brothers Lumber Company
Fund, Inc.
Sheldon Wert
Michael Horovitz Former President and Chief Executive Officer,
Owner and President, Minneapolis Glass Company Century Bancshares, Inc.
twenty-five
27. M &I C
ARSHALL LSLEY ORPORATION
Affiliate Boards of Directors
WISCONSIN – APPLETON
COMMUNITY BANK BOARD OF DIRECTORS DIRECTOR EMERITUS
Thomas J. Boldt James R. Hayes Gus A. Zuehlke
Chief Executive Officer, The Boldt Company President and Chief Executive Officer, retired,
Hayes Manufacturing Group, Inc.
Richard G. Dercks
Paul J. Heid
President, Marshall & Ilsley Trust Company N.A.,
Appleton Region President, Heid Music Company, Inc.
Stephen M. Evans Lawrence W. Wirth
President, Evans Title Companies, Inc. President, retired, Presto Products, Inc.
David J. Gitter
President, M&I Marshall & Ilsley Bank, Appleton
WISCONSIN – ASHLAND
COMMUNITY BANK BOARD OF DIRECTORS
Paul R. Bretting Peter P. Viater
Vice President, C. G. Bretting Manufacturing Company, Inc. President, M&I Marshall & Ilsley Bank, Ashland
Donald N. Marcouiller Leslie J. Whiteaker
Regional Administrator, Wisconsin Indianhead Technical Vice President and Chief Financial Officer, Memorial
College, Ashland Campus Medical Center
WISCONSIN – BROOKFIELD
COMMUNITY BANK BOARD OF DIRECTORS DIRECTORS EMERITI
J. Nathan Cunniff Irv Hansen Glenn A. Francke
President, M&I Marshall & Ilsley Bank, Brookfield Chairman, M&I Marshall & Ilsley Bank, Brookfield Philip K. Harvey
John P. Metzger
Robert H. Eldridge James E. Keyes
Gerry E. Seider
Executive Vice President and Secretary-Treasurer, retired, Chairman of the Board, KSM Industries, Inc.
Briggs & Stratton Corporation Donald A. Trepte
James M. Leef
John R. Evans President, Industrial Towel & Uniform, Inc.
President, retired, Evans Brothers Company, Inc.
Gordon J. Liebl
Andrew J. Fleckenstein President, A. L. Schutzman Co., Inc.
Trustee, Fleck Foundation
Randall J. Wright
W. P. Halquist President and Chief Executive Officer, Empire Level
Chairman of the Board, Halquist Stone Co., Inc. Mfg. Corp.
WISCONSIN – BURLINGTON
COMMUNITY BANK BOARD OF DIRECTORS
James R. Bauman John L. Malchine
President, retired, M&I Marshall & Ilsley Bank, Farmer
Burlington
Lawrence Smith
Glenda Dupons Larry’s Barber Shop
President, Bear Realty Inc.
James F. Weis
Frederick J. Koenen President, May’s Insurance Agency
Chairman of the Board, Reineman’s True Value Inc.
28. M &I C
ARSHALL LSLEY ORPORATION
Affiliate Boards of Directors
WISCONSIN – EAGLE RIVER
COMMUNITY BANK BOARD OF DIRECTORS
Al Block Thomas Gaffney
Owner, retired, A. L. Block Realty Owner, retired, Gaffney Funeral Home
Al Bybee Darryl Gremban, D.D.S.
Food Broker, retired
Richard D. Hansen
C. Randall Cox President, M&I Marshall & Ilsley Bank, Eagle River
Consultant
T. J. Doyle, D.D.S.
WISCONSIN – EAU CLAIRE
COMMUNITY BANK BOARD OF DIRECTORS
Robert R. Hood Steven R. Senn
President, M&I Marshall & Ilsley Bank, Eau Claire Chief Executive Officer, Senn Blacktop, Inc.
John A. Lubs Roger R. Sipple
President, Mason Shoe Mfg. Co. Roger & Donald Sipple Farm
James D. Myers Daniel J. Toycen
Vice President, Pleasant Hill Farm, Inc. President, Toycen Motors, Inc.
Donald J. Piepgras President, Toycen of Ladysmith, Inc.
President, St. Croix Valley Natural Gas Company, Inc. Kenneth C. Vance
Peter B. Scobie President, Ken Vance Motors, Inc.
President, R. W. Scobie, Inc.
WISCONSIN – GREEN BAY
COMMUNITY BANK BOARD OF DIRECTORS DIRECTORS EMERITI
Richard G. Baumgarten Ann M. Murphy William R. Bodart
President, retired, M&I Fox Heights Bank Vice President, Murphy Development, Inc. Carl Farah
Michael B. Gage Thomas M. Olejniczak
Investor Partner, Liebmann, Conway, Olejniczak & Jerry, S.C.
John M. Jones Peter M. Platten III
Executive Vice President and Chief Operating Officer, Former Chairman of the Board, M&I Bank Northeast
Green Bay Packers Vice Chairman of the Board, retired, Marshall & Ilsley
Michael J. Langenhorst Corporation
President, Anamax Corporation Michael D. Simmer
Peter D. Mancuso President, M&I Marshall & Ilsley Bank, Green Bay
Chief Executive Officer, Lindquist Machine Co. Ronald A. Weyers
Edward L. Meyer, Jr.
Chairman of the Board, Anamax Corporation
twenty-seven
29. M &I C
ARSHALL LSLEY ORPORATION
Affiliate Boards of Directors
WISCONSIN – HARTLAND
COMMUNITY BANK BOARD OF DIRECTORS DIRECTORS EMERITI
Steven C. Boysa Richard A. Natalizio Patrick A. Corcoran
Chairman of the Board, Creative Equities Company, Inc. Chairman of the Board, HNI Company, Inc. Anton R. Grasch
Charles J. Herro
Robert C. Goff Charles L. Rushman
William Hollenbeck
President, Goff’s Auto Body, Inc. Chairman, First Weber Realty
J. Scott Kestly
Stanley F. Hack Paul J. Schmidt
Richard K. Mueller
Attorney President, retired, Collections Unlimited, Inc.
August U. Pabst
Arthur T. Kraemer Sheldon Volk
Charles A. Perry
Chairman, M&I Marshall & Ilsley Bank, Hartland Executive Vice President, retired, M&I Lake Country Bank
Richard A. Schmidt
Scott A. Kraemer Dennis H. Wollenzien Thomas J. Waldera
President, M&I Marshall & Ilsley Bank, Hartland President and Chief Operating Officer, retired, M&I Lake
Country Bank
Donald L. McNeil
Retired, Executive Director, Inc.
WISCONSIN – JANESVILLE
COMMUNITY BANK BOARD OF DIRECTORS DIRECTOR EMERITUS
Frank E. Bauchiero Mary E. Kilkenny Donald P. Ryan
Consultant Broker, Keefe Real Estate
J. Michael Borden Michael J. Murphy
President, Hufcor, Inc. President, Chief Executive Officer, and Owner,
Southeastern Wisconsin Title Company, Inc.
Mark A. Cullen
Ronald K. Ochs
President, J. P. Cullen & Sons
President, M&I Marshall & Ilsley Bank, Janesville
Richard L. Dashnaw
James F. Ruethling
Retired, Coltec Industries
Administrator, Beloit Clinic, S.C.
John H. Franz
Robert W. Swank
Consultant
President, Marshall & Ilsley Trust Company N.A.,
Dennis L. Hansch
Janesville Region
Attorney, Nowlan & Mouat
David A. Weber
Charles H. Harker
President, Mode Industries, Inc.
President, Mid-States Concrete
WISCONSIN – KENOSHA
COMMUNITY BANK BOARD OF DIRECTORS
Kenneth L. Fellman Dennis Vignieri
President, M&I Marshall & Ilsley Bank, Kenosha President and Chief Executive Officer, Kenosha Beef
International Limited
Rita Petretti
Michael W. Wells
Vice President, Petretti Realty Corporation
President, Frank L. Wells Company
Robert G. Terwall
President, Cherry Electrical Products
WISCONSIN – LA CROSSE
COMMUNITY BANK BOARD OF DIRECTORS
Russell J. Callahan, Jr. Al L. Lindsay
Retired, Herbergers Senior Vice President, M&I Marshall & Ilsley Bank,
La Crosse
James H. Fullerton
Ronald A. Wessels
Chairman, M&I Marshall & Ilsley Bank,
La Crosse President, M&I Marshall & Ilsley Bank, La Crosse
30. M &I C
ARSHALL LSLEY ORPORATION
Affiliate Boards of Directors
WISCONSIN – MADISON
COMMUNITY BANK BOARD OF DIRECTORS
Paul M. Berge Douglas G. Reuhl
Chairman, M&I Marshall & Ilsley Bank, Madison President, American of Madison
Timothy B. Erdman Robert A. Schlicht
Chairman and Chief Executive Officer, Marshall President, M&I Marshall & Ilsley Bank, Madison
Erdman & Assoc.
Terry K. Shockley
John M. Flesch President, Shockley Group, Inc.
Executive Vice President and Treasurer, Gordon Flesch
Jay L. Smith
Company, Inc.
President, JLS Investment Group
Harold F. Mayer
F. Charles Steinhauer
Vice President Operations, retired, Oscar Mayer
Vice President, Madison Dairy Produce
Foods Corp.
Jerry J. Weygandt
Robert F. O’Loughlin
Professor of Accounting, UW School of Business
President, Softspikes, Inc.
Richard R. Renk
President, The Renk Seed Company
WISCONSIN – MARSHFIELD
COMMUNITY BANK BOARD OF DIRECTORS DIRECTORS EMERITI
John Baltus Ronald Maurer Vernon Baltus
President, Baltus Oil Co. President, Maurer Roofing Floyd Hamus
Robert O. Heck
Donald Boon Alan D. Nystrom
Ken Heiting
President, Boon Construction President, M&I Marshall & Ilsley Bank, Marshfield
James W. Hewitt
Ronald D. Doine Ronald Wiskerchen
John W. Koenig
President, Doine Excavating, Inc. President, retired, Wiskerchen Cheese, Inc.
Robert Solberg
Terry Frankland
James F. Sternweis
General Manager, V&H, Inc.
Lawrence I. Thill
Kenneth F. Heiman Warner G. Von Holzen
Owner, Nasonville Dairy, Inc.
Frederick J. Wenzel
WISCONSIN – MAYVILLE
COMMUNITY BANK BOARD OF DIRECTORS
Melvin Drinkwine Roy Rohlinger
Retired, Tab Products Co. Vice President, Rohlinger Construction, Inc.
Leo R. Fisher Kevin E. Volm
Chairman of the Board, retired, M&I Bank of Mayville President, M&I Marshall & Ilsley Bank, Mayville
Dennis M. Kemmel Stanley A. Waas
Owner, Kemmel Insurance Agency President, Waas Boring & Cable, Inc.
George F. Olson
Sales and Engineering, W. G. Strohwig Tool & Die, Inc.
WISCONSIN – MENOMONEE FALLS
COMMUNITY BANK BOARD OF DIRECTORS DIRECTORS EMERITI
Ronald R. Bast Donald H. Nimmer Gerald S. Parshalle
President, Riteway Bus Service, Inc. President, Enercon Industries Corporation Don A. Schneiders
A. W. Zillmer
Richard C. Becker Michael Richardson
President, M&I Marshall & Ilsley Bank, Menomonee Falls President, Richardson Financial Group, Inc.
Robert E. Drisner Douglas H. Stadelmann
President and Chief Executive Officer, Community President, Stadelmann Engineering Company, Inc.
Health Care Services
twenty-nine
31. M &I C
ARSHALL LSLEY ORPORATION
Affiliate Boards of Directors
WISCONSIN – MERRILL
COMMUNITY BANK BOARD OF DIRECTORS
Edward G. Chartier David B. Smith
Retired Consultant and Private Investor
John F. Koch Thomas J. Young
President, M&I Marshall & Ilsley Bank, Merrill Executive Vice President, retired, Church Mutual
Insurance Company
Lance R. Nienow
Chief Executive Officer, Weinbrenner Shoe Co.
Gary L. Schulze
Vice President, Victory Clinic Pharmacy, Inc.
WISCONSIN – OSHKOSH
COMMUNITY BANK BOARD OF DIRECTORS
Cristopher Bumby Joe McCreery
President and Chief Executive Officer, Admanco, Inc. President, retired, M&I Bank of Oshkosh
Jere Chapin Steven R. Schmudlach
President, retired, M&I Central State Bank President, M&I Marshall & Ilsley Bank, Oshkosh
Dennis Elmer Dennis E. Schwab
Food Broker President, Coldwell Banker - Schwab Realty Ltd.
H. Andersen Lyke
President, Lyke Corporation
WISCONSIN – RACINE
COMMUNITY BANK BOARD OF DIRECTORS DIRECTORS EMERITI
Matthew L. Andis David B. Rayburn Kenneth Jensen
President, Andis Company President, Modine Manufacturing Company David J. Munroe
Earl E. Richter
Thomas L. Beck Willard T. Walker
Ernest C. Styberg, Jr.
President, Unico, Inc. Chairman of the Board, Walker Forge, Inc.
Harold C. Weiss
Timothy J. Majcen
President, M&I Marshall & Ilsley Bank, Racine
James O. Parrish
Vice President, Finance, Twin Disc, Inc.
WISCONSIN – RHINELANDER
COMMUNITY BANK BOARD OF DIRECTORS
Ted S. Baginski, Jr. Dexter Musson
President, Ted Baginski and Sons Inc. President, Musson Brothers, Inc.
Fred A. Berner Kirby H. Roen
Editor, Antigo Daily Journal Director - Sector Planning, Citizens Communications
Officer, Berner Bros. Publishing Irving Schiek III, M.D.
Retired
William J. Cousineau
President, Cousineau Auto Parts, Inc.
Michael Moioffer
President, MIDE Inc.
32. M &I C
ARSHALL LSLEY ORPORATION
Affiliate Boards of Directors
WISCONSIN – SHAWANO
COMMUNITY BANK BOARD OF DIRECTORS
James A. Kasten Russell P. Schmidt
Vice President - Fluid Milk, Member, Employee Service, Retired
Foremost Farms
Jerry J. Senzig
Jeffrey P. Mace President and Owner, Senzig’s, Inc.
President, M&I Marshall & Ilsley Bank, Shawano
Gary J. Tauchen
Russell L. Obermeier Treasurer, Tauchen Harmony Valley, Inc.
Owner, Maple Creek Wildlife
President and Owner, Obermeier & Associates
President and Owner, Cloverleaf Sand and Gravel, Inc.
Larry J. Rose
CPA/PFS, Shareholder, Kerber, Rose & Associates, S.C.
CPA/PFS, Shareholder, Financial Services of Northeast
Wisconsin, Inc.
WISCONSIN – SHEBOYGAN
COMMUNITY BANK BOARD OF DIRECTORS
Ronald E. Begalke Gary D. Maples
Executive Vice President, retired, Sargento Cheese Co. President, M&I Marshall & Ilsley Bank, Sheboygan
Martin Crneckiy, Jr. Michael D. Muth
Executive Vice President and Chief Financial Officer, Chairman of the Board and Chief Executive Officer,
Vollrath Company K. W. Muth Company
Terence P. Fox David Quasius
Attorney at Law, Kummer, Lambert & Fox, LLP President, Quasius Construction, Inc.
Reynolds K. Honold
President, retired, Aldag/Honold Mechanical, Inc.
WISCONSIN – STEVENS POINT
COMMUNITY BANK BOARD OF DIRECTORS DIRECTORS EMERITI
James E. Anderson Thomas W. Rause Leonard F. DeBaker
President, Ellis Stone Construction Company, Inc. President and Chief Executive Officer, Rause Bennett C. Katz
Management, Inc. David Ross Miller
Marilynn J. Chesbrough
Robert A. Schmidt Gerald M. O’Brien
Robert L. Cooper
President, M&I Marshall & Ilsley Bank, Stevens Point Joseph J. Okray
President, Dr. Robert L. Cooper, S.C.
Earl F. Shippy
Ronald T. Skrenes
Jeffrey L. Martin Robert W. Worth
Attorney, Anderson, O’Brien, Bertz, Skrenes & Golla
President and CEO, St. Michael’s Hospital
Herbert M. Theisen
Richard W. Okray
President, Theisen’s Lumber and Millwork, Inc.
Secretary, Okray Family Farms, Inc.
thirty-one
33. M &I C
ARSHALL LSLEY ORPORATION
Affiliate Boards of Directors
WISCONSIN – SUPERIOR/DULUTH
COMMUNITY BANK BOARD OF DIRECTORS DIRECTORS EMERITI
James Banks Mary Millard Richard Buth
President and Chief Executive Officer, Allouez Maine President, Millard & Associates, Inc. James Tracy
Supply, Inc.
Fred Shusterich
John H. Hendricks President, Midwest Energy Resources
President, Hendricks, Knudson, Gee, Torvinen &
James E. Zastrow
Weiby, S.C.
President, M&I Marshall & Ilsley Bank, Superior/Duluth
Mary A. Johnson
Senior Vice President – Chief Operations Officer,
St. Mary’s/Duluth Clinic Health System
WISCONSIN – WATERTOWN
COMMUNITY BANK BOARD OF DIRECTORS DIRECTORS EMERITI
Richard Baker W. John Klinger V. R. Bauman
Baker-Rullman Mfg., Inc. Retired E. J. Dobbratz
E. W. McFarland
Robert A. Bender William J. Kwapil, Jr.
Attorney Seven-Up Bottling Co.
John H. Ebert
President, M&I Marshall & Ilsley Bank, Watertown
WISCONSIN – WAUSAU
COMMUNITY BANK BOARD OF DIRECTORS
Edward J. Creske San W. Orr, Jr.
President, Wausau Tile Chairman of the Board, Wausau-Mosinee Paper
Corporation
Dwight E. Davis
President and Chief Executive Officer, Greenheck Fan Corp. Floyd G. Shelton
President, Superior Floor
Richard D. Dudley
John L. Skoug
Chairman, Dudley Investments LLC
Chairman and Chief Executive Officer, Marathon
David Eisenreich
Cheese Corp.
President, Marathon Electric Manufacturing Corp.
Neil F. Slamka
Thomas J. Howatt
Vice President and General Manager, Green Bay
President, Wausau-Mosinee Paper Corporation
Packaging, Inc.
Hugh E. Jones Paul A. Spaude
President, M&I Marshall & Ilsley Bank, Wausau
President, Wausau Hospital Center
Ronald L. Klimisch Stanley F. Staples, Jr.
President, Wausau Supply Company
President, Alexander Properties, Inc.
Alfred P. Moore
President and Chief Executive Officer, Wausau Benefits, Inc.
WISCONSIN – WEST BEND
COMMUNITY BANK BOARD OF DIRECTORS DIRECTOR EMERITUS
Thomas R. Bast Thomas W. Kieckhafer Charles H. Johnson
Chairman of the Board, retired, M&I First National Bank Retired
Russell M. Darrow, Jr. Richard L. Leitheiser
Chairman of the Board, Russ Darrow Group, Inc. President, M&I Marshall & Ilsley Bank, West Bend
Steven C. Johnson Mark A. Nielsen
President, Johnson School Bus Service, Inc. Vice President, Richardson Financial Group, Inc.
James W. Kieckhafer George E. Prescott
Partner, Kieckhafer Dietzler Hauser & Co. Chief Executive Officer, Prescott’s Supermarkets, Inc.
34. M &I C
ARSHALL LSLEY ORPORATION
Affiliate Boards of Directors
SOUTHWEST BANK OF ST. LOUIS
2301 South Kingshighway, St. Louis, MO 63110 (314) 776-5200 www.mysouthwestbank.com
DIRECTORS DIRECTORS EMERITI
Halvor B. Anderson William F. Holekamp Edward C. Berra
Retired, Manufacturing Executive President, Holekamp Investments William J. Freschi
G. Fred Heimburger
John T. Baumstark Charles W. Hrebec, Jr.
Charles A. Zone
President, Archway Sales, Inc. President, Colt Industries, Inc.
Andrew N. Baur Henry O. Johnston
Chairman, Southwest Bank of St. Louis Retired, Investment Executive
Andrew S. Baur Stephen P. Marsh
President – Community Banking, President – Commercial Banking,
Southwest Bank of St. Louis Southwest Bank of St. Louis
Linn H. Bealke Richard G. Millman
Vice Chairman, Southwest Bank of St. Louis President, Millman Lumber Co.
William H. T. Bush Edward T. Noland
Chairman, Bush-O’Donnell & Co., Inc. President, Pharma Tech Industries, Inc.
Francis C. Cunetto Zsolt Rumy
President, Cunetto House of Pasta, Inc. President, Zoltek Corporation
Robert E. Flynn, III Almira B. Sant
President, Berry Grant Company Retired, Publisher
Frederick O. Hanser Mary P. Sherrill
Chairman, St. Louis Cardinals, L.P. Vice Chairman, Southwest Bank of St. Louis
SOUTHWEST BANK
#2 Carlyle Plaza Drive, Belleville, IL 62221 (618) 233-9288
DIRECTORS
Andrew S. Baur Mark A. Hinrichs
Chairman, Southwest Bank President, Impact Strategies, Inc.
President – Community Banking, Ronald J. Ortyl, Sr.
Southwest Bank of St. Louis Chairman, Metro East Industries, Inc.
Paul J. Galeski Robert J. Witterschein
Chairman and Chief Executive Officer, Maverick Senior Vice President, Southwest Bank of St. Louis
Technologies LLC
Karen C. Hendrickson
President, Southwest Bank
thirty-three
