Regulators lift order on Mid America Bank

2014-01-23T16:15:00Z Regulators lift order on Mid America BankJUDY NEWMAN | Wisconsin State Journal | | 608-252-6156

State and federal regulators have ended the consent order issued in February 2013 against Mid America Bank, Janesville, directing the bank to make improvements.

The changes included hiring an outside consultant to determine how to "restore all aspects of the bank to a safe and sound condition;" providing ethics training; and reducing the bank's risk for delinquent loans.

Mike Jones, Mid America president and chief executive, said the bank has strengthened operations; added "key personnel" and improved asset quality. "Our work is not complete and the lessons learned will not be forgotten but we are feeling very good about the future," he said.

Mid America, founded in 1910 as Footville State Bank, has $100 million in assets and a branch in Williams Bay and loan offices in Madison and Waukesha.

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