Wisconsin names chief regulator for state banks

Northwestern Financial Review, Jun 15-Jun 30, 2003

Lorrie Keating Heinemann of Oshkosh was named secretary of the Department of Financial Institutions for the State of Wisconsin. Gov. Jim Doyle made the announcement May 23.

Keating Heinemann was an investment advisor at Virchow Krause Wealth Management, LLC, a division of Milwaukee-based Virchow Krause & Company, the 13th largest accounting firm in the country.

"One key to facilitating economic development is to ensure the strength and soundness of financial institutions," Gov. Doyle said. "The Department of Financial Institutions plays an integral part in preserving the faith and confidence in Wisconsin's financial sector. I am confident Lorrie will be an energetic secretary for the department."

For the last three and a half years, Keating Heinemann worked at Virchow Krause Wealth Management, acting as a co-fiduciary to employers who sponsor retirement plans to ensure ERISA compliance.

Prior to joining Virchow Krause, she worked for the Associated Trust Company of Neenah. From 1989 to 1994, Heinemann served as Director of Corporate Services for Appleton-based Valley Bancorp.

Keating Heinemann was born and raised in Thorp where her family owned and operated the Thorp Telephone Company. She graduated from

UmbrellaBank branch bought

Mid America Bank, Claredon Hills, Ill., has completed the purchase of a branch office of UmbrellaBank, fsb, Chicago. The transaction involves the purchase of approximately $8 million in deposits and the assumption of the lease on the branch building. The purchase is part of Mid America's strategy of extending services to underserved markets.

Mid America Bank is a federally chartered stock savings bank with assets of $5.9 billion the University of Wisconsin-Eau Claire in 1983. In 1992, Keating Heinemann received a master's of business administration degree from UW-Oshkosh.

The Division of Banking within the Department of Financial Institutions is responsible for the supervision of 231 commercial state-chartered banks, 17 savings banks, five savings and loan associations, plus mortgage bankers/brokers, trust companies, consumer finance companies and other financial entities. The division had a 2002 fiscal year budget of $4.9 million.