Archive for category: Member News

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Cinnaire Welcomes Three New Board Members

Cinnaire has announced the appointment of three new Board members. The new members join the organization’s Board of Directors to provide strategic direction supporting continued growth around Cinnaire’s commitment to investing in people and places to transform communities.

“Sarida, Fred, and Amandula have each demonstrated a remarkable commitment to our mission and our industry,” said Mark McDaniel, Cinnaire president and CEO. “Together they bring a diverse range of wisdom, experience and perspective which will significantly benefit our organization. We’re grateful to our board members for sharing their time and talent to support our work investing in people and places to transform communities.”

The three new board members include:

  • Fred L. Greene III, FLGA, executive vice president
  • Amandula Anderson, IFF, executive director – Indiana Region
  • Sarida Lynne Scott, assistant professor and director, University of Detroit, Mercy School of Architecture and Community Development

Fred Greene III

Fred Greene III is a native Washingtonian with over 14 years of diversified real estate development, investment, and economic development experience and has been involved in over 3 million square feet of commercial development. As Executive Vice President of FLGA, a Washington, D.C.-based multifaceted real estate development and investment company, Greene oversees all day-to-day activities of the firm with oversight of all acquisition and development management strategy. Greene is also co-founder of Project Destined, a social impact program offering training and paid internships to youth in urban communities. Project Destined is focused on increasing the number of diverse owners and leaders in the commercial real estate industry by partnering with schools, corporations, and nonprofit organizations to train students in the fundamentals of commercial real estate.

Amandula Anderson

Amandula Anderson serves as IFF executive director for the Indiana Region and is charged with oversight of IFF’s full scope of services in Indiana and Louisville, KY, while actively seeking additional opportunities to further support nonprofits. Previously she served as IFF’s managing director of real estate solutions – Indiana, working alongside nonprofit organizations to help them build, move, or expand their space in order to meet the needs of their clients. Anderson has more than 20 years’ experience in the nonprofit sector. Prior to joining IFF, she led two community-based organizations – Irvington Development Organization and United Northeast CDC, convened a Quality-of-Life initiative on the northeast side of Indianapolis, directed a program to facilitate a two-generational approach to supporting families within five Indianapolis communities, and spent a few years supporting affordable housing through a tax credit syndicator.

Sarida Scott

Sarida Scott is an assistant professor of architecture and community development and director for the master of community development program at the University of Detroit, Mercy. The program offers a holistic approach to the theory and practice of community development with a foundation rooted in service, social justice, and sustainability. Her career has concentrated in the areas of nonprofit legal compliance, education, and community engagement. Scott was a program officer at W.K. Kellogg Foundation, where she developed a Detroit strategic plan to facilitate investment of approximately $7 million; served as executive director for Community Development Advocates of Detroit (CDAD); and held positions of legal director and chief program officer at Michigan Community Resources. A native Detroiter, Scott is passionate about ensuring that Detroit has an equitable recovery and return to its once legendary vibe. She serves as board member for Wayne Metro and the Michigan League for Public Policy and sits on the Detroit Revitalization Fellows Program Advisory Council.

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Cinnaire Closes $151 Million in Committed Capital for Equity Fund

Cinnaire has announced the closing of the Cinnaire Fund for Housing (Fund 39), a $151 million multi-investor Low-Income Housing Tax Credit fund. The fund will support the creation of 1,464 affordable homes across 14 new construction and rehabilitation projects in five Midwest states. Fund 39 is the first of four multi-investor funds planned by Cinnaire this year.

“Cinnaire is continuing to see very strong interest from long-time and new investors in our Housing Credit funds,” said Mark McDaniel, Cinnaire’s president and CEO. “We’re grateful for their trust, and we’re busy deploying this capital into impactful developments that will deliver affordable homes and contribute to thriving communities.”

Fund 39 investors include major national and regional banks, 93% of which are repeat investors with Cinnaire. The fund will focus on 14 properties in Illinois, Indiana, Michigan, Wisconsin, and Minnesota. The properties supported by the fund will include 2,628 bedrooms and serve an estimated 3,367 low- income residents with safe, affordable housing.

“We are proud to bring so many affordable units online at a time when affordable housing is in such need,” said Brett Oumedian, Cinnaire CFO. “Families are struggling across our communities, and the positive impact that safe, stable, affordable housing makes in the lives of our neighbors cannot be overstated.”

Two properties representing the diverse investments of Fund 39 are Grandmont Rosedale in Detroit, a 35-unit multi-family affordable housing development which recently broke ground and will include the renovation of two buildings on Detroit’s west side, and Edson School Apartments, an adaptive reuse of a historic school in Milwaukee’s Old North Neighborhood to include 75 affordable apartments and townhomes with 20 reserved for senior housing. Both developments are expected to be completed and available for residents in the summer of 2024.

“The success in closing this fund is a reminder that the work of creating affordable housing is challenging but has the opportunity to transform lives through safe, quality housing,” said Josh Ghena, SVP – equity business funding. “It is an honor to work in pursuit of something so vital to families and communities.”

The fund brings Cinnaire’s total equity investment raised since its inception 30 years ago to more than $4.2 billion.

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One Community Bank Breaks Ground in Cottage Grove

As a growing organization, One Community Bank recently announced a new bank location in the Cottage Grove community. The new bank will be located at 1565 Landmark Drive between Commerce Parkway and Limestone Pass.

On Thursday, April 27, One Community Bank held a groundbreaking ceremony to celebrate this exciting new phase of the project. Local community members as well as OCB colleagues, directors, and partners gathered for the ceremony at the location of the future bank. Attendees included: Village of Cottage Grove president and staff, leaders from the Cottage Grove Chamber of Commerce, and several of our partners from Ideal Builders, OPN Architects, and many of our subcontractor firms.

“One Community Bank believes in serving clients, supporting colleagues, and investing in our communities. Cottage Grove has a strong community presence, and our colleagues are excited to participate in events and support local businesses,” said Steve Peotter, president and CEO. “OCB has been fortunate to have worked closely with many Cottage Grove clients throughout the years. We are proud to bring OCB’s ‘Feel Good Banking’ to Cottage Grove.”

One Community Bank is working closely with Ideal Builders and OPN Architects on the new 6,000 square foot location at Landmark Drive.

“What we’ve seen in the communities that we’ve served with One Community Bank is they back up what they say,” said Tim Cleary, executive vice president of Ideal Builders. “They’ve been wonderful community participants to the schools, the business community, and to countless other non-profits. The Cottage Grove community is winning by having this employer here and I’m excited to see what they do here.”

“We are honored to be One Community Bank’s architect for the new Cottage Grove location, our third bank location together”, said Wesley Reynolds, principal, OPN Architects. “Our long-time partnership is proof that OCB is committed to designing buildings that elevate the communities in which they live, work, and invest.”

One Community Bank – Cottage Grove will offer full-service banking capabilities to current and future clients in Cottage Grove and surrounding communities. The new location will include a drive-through lane with a teller window and a remote interactive teller machine (ITM). The ITM will be available extended hours. The location will have several office spaces and a conference room for colleagues to serve clients. It will also include a welcoming spacious lobby for clients to enjoy.

Online account opening capabilities enable anyone to open an account on OCB’s website, instead of waiting until the new Cottage Grove location opens. OCB – Cottage Grove is expected to open its doors in early 2024.

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Donna Hoppenjan Leading Wisconsin Bankers Association Board

Donna Hoppenjan

Donna J. Hoppenjan, president and CEO of Mound City Bank, has been elected to serve as the 2023–2024 Board chair of the Wisconsin Bankers Association (WBA).

The Wisconsin Bankers Association is the state’s largest financial industry trade association, representing more than 200 commercial banks and savings institutions, their branches, and over 30,000 employees.

“We are delighted to announce Donna as chair of the WBA Board,” said Rose Oswald Poels, WBA president and CEO. “Her appointment is not only a testament to her individual accomplishments but also a testament to her ability to advance our mission, foster collaboration, and drive innovation in the banking industry. We look forward to working together to make a positive impact on the lives of our customers and communities.”

Hoppenjan has over 46 years of experience at Mound City Bank and is an alumna of the Graduate School of Banking (GSB) at the University of Wisconsin-Madison. Her community involvement includes serving on the Platteville Regional Chamber of Commerce Ambassador Committee, on the board of a local church, and on the board of Southwest Health.

Also serving as officers on the WBA Board are: Chair-Elect Al Araque, SVP, director of consumer and private banking, Johnson Financial Group, Racine; Vice Chair Paul Northway, president and CEO, American National Bank – Fox Cities, Appleton; and Past Chair Dan Peterson, president and CEO, The Stephenson National Bank & Trust, Marinette.

Joining the Board for three-year terms are Kelly Heroux, president and CEO, Peshtigo National Bank; Shay Horton, president and CEO, Cumberland Federal Bank; Anthony Nguyen, Minnesota/Wisconsin/Chicago regional bank director, SVP, Wells Fargo Bank, N.A., Milwaukee; and Bill Sennholz, CEO, Forward Bank, Marshfield.

Those continuing their terms on the Board are: Paul Hoffmann, president, Lake Ridge Bank, Middleton; Jay Mack, president and CEO, Town Bank, N.A., Hartland;  Ryan Kamphuis, president and CEO, Bristol Morgan Bank, Oakfield; Greg Lundberg, president and CEO, Fortifi Bank, Berlin; Tom Mews, president, First National Community Bank, New Richmond; Greg Ogren, president and CEO, Security Bank Shares, Inc., Iron River; Joe Peikert, president and CEO, Wolf River Community Bank, Hortonville; and Dan Ravenscroft, president and CEO, Royal Bank, Elroy.

Board members who completed their terms in 2022–2023 are Jim Chatterton, president and CEO, National Exchange Bank & Trust, Fond du Lac; Jenny Provancher, CEO, The Equitable Bank, S.S.B., Wauwatosa; Terry Rosengarten, president and COO, Unity Bank, Augusta; and Ken Thompson, CEO, Capitol Bank, Madison.

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Security Financial Bank Awards $6,000 in Scholarships to Area High School Graduates

Mark Oldenberg, president and CEO of Security Financial Bank (SFB), is pleased to announce that 12 area recent high school graduates each have been awarded a $500 scholarship to be used to further their education.

Recipients include:

  • Elizabeth Anderson, a graduate of Eau Claire Memorial High School, will attend Marquette University.
  • Drae Bauer, a graduate of Durand High School, will attend the University of Wisconsin–Madison.
  • Hope Burki, a graduate of Dove and Sparrow Academy, will attend the University of Wisconsin–Eau Claire at Barron County.
  • Maggie Chilson, a graduate of Regis High School, will attend the University of St. Thomas.
  • Ericka Cortes-Medina, a graduate of Lincoln Jr/Sr. High School, will attend the University of Wisconsin–Eau Claire.
  • Cicely Kiecker, a graduate of Bloomer High School, will attend the University of Wisconsin–Madison.
  • Payton Kopp, a graduate of Plum City High School, will attend the University of Wisconsin–River Falls.
  • Grace Mentink, a graduate of Baldwin-Woodville High School, will attend Northwood Technical College.
  • Haylie Schmidt, a graduate of Black River Falls High School, will attend the University of Wisconsin–Eau Claire.
  • Brooke Schwebach, a graduate of Elmwood High School, will attend the University of Wisconsin–Eau Claire.
  • Emma Southworth, a graduate of Bloomer High School, will attend the University of Montana.
  • Kelli Zimmer, a graduate of Flambeau High School, will attend Northwood Technical College.

Each year, SFB awards up to two $500 scholarships in each of its markets to graduating high school seniors. Recipients are chosen based on involvement in school, youth organizations, and community events with particular preference given to students pursuing a career in finance, accounting, or business administration.

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Fortifi Bank Employee Recognized for 45 Years

On Friday, June 2, Wendy Swansby, teller at Fortifi Bank, was recognized with the Wisconsin Bankers Association’s (WBA) Lifetime Service Award for dedicating 45 years of her career to the banking industry. At an event hosted by Fortifi, WBA President and CEO Rose Oswald Poels presented the award to Swansby.

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Griffin Joins Bank of Sun Prairie

Bank of Sun Prairie welcomes Don Griffin, a 29-year experienced financial services veteran, as their new assistant vice president – residential mortgage lender. Since 1994, Griffin has made significant contributions to the banking and mortgage fields.

Griffin graduated from the University of Wisconsin-Whitewater with a bachelor’s degree in finance. Since then, he gained experience managing retail banks and mortgage teams, along with taking the role as a residential mortgage lender since 2012. Now, he has joined Bank of Sun Prairie to further his ability to provide a full financial picture approach for their customers.

“We couldn’t be more excited to welcome Don to Bank of Sun Prairie’s mortgage team. He is a great addition, bringing in his extensive residential lending experience and strong connections across Dane County.” shared Gabrielle Loeffler, Bank of Sun Prairie’s vice president – residential lending manager. “Don offers customers a personalized experience to match each of their specific home-buying needs.”

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Farmers & Merchants Union Bank Employees Celebrate Lifetime of Service

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This spring, two Farmers & Merchants Union Bank employees — LuAnn Hasenfuss and Tracy McNulty — received recognition from the Wisconsin Bankers Association (WBA) for their tenure in the banking industry.

LuAnn Hasenfuss’ 50-year milestone was recently celebrated at a FMUB Board meeting. Hasenfuss was presented WBA’s 50 Year Club award by Rose Oswald Poels, WBA president and CEO.

Tracy McNulty was recently recognized for celebrating 30 years at FMUB. McNulty, operations center specialist, has worked in every area in the operations department and possesses a great deal of knowledge in other areas of the bank. Oswald Poels presented McNulty with the WBA Lifetime of Service Award commemorating her 30 years in the banking industry during a recent FMUB Board meeting.

 

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Bank of Wisconsin Dells Awards Scholarship

Pictured (left to right) are: Carson Beach and Scott Rockwell, BWD president/CEO.

Bank of Wisconsin Dells recently awarded its 2023 Educational Scholarship to Wisconsin Dells High School Valedictorian Carson Beach. Beach received a total of $20,000 over four years of college. The Bank of Wisconsin Dells Educational Scholarship is given out through an endowment scholarship program with the Wisconsin Dells Education Foundation. BWD wishes Beach the best of luck in his college career.

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Empowering Small Businesses: A Business Growth Solutions Event

The Racine County Economic Development Corporation (RCEDC) proudly presents “Empowering Small Businesses: A Business Growth Solutions Event,” taking place on Thursday, June 15, from 3:00 p.m. to 5:00 p.m. at the esteemed Veterans Terrace in Burlington.

This event will provide relevant insights and share valuable resources to entrepreneurs, business owners, commercial lenders, community leaders, and real estate professionals.

Jenny Trick, executive director of RCEDC, expressed her excitement about the event, stating, “RCEDC is pleased to partner with Community State Bank to host these amazing small business owners that will share their experiences and the resources they used to help them succeed in their industry.”

Sponsored by Community State Bank, this not-to-be-missed event will feature a remarkable panel of accomplished individuals in the business and financial sectors. Attendees will have the opportunity to hear from inspiring entrepreneurs and small business owners, as well as leading financial professionals who specialize in commercial lending and growth strategies.

The esteemed panelists include Becky McClelland, Burlington market president for Community State Bank; Wesley Walsh, loan officer with Business Lending Partners; Melissa Smith, owner of Buzzed Wine Bar; Tammie Begotka, co-owner of Waterford Stillhouse; and Donna Mosca, co-founder of the Enlightened Living Center.

“Our goal is to empower small businesses by providing them with the knowledge and tools necessary for growth,” said McClelland. “We are proud to sponsor this program and invite everyone to join us for an informative and engaging afternoon.”

Registration for “Empowering Small Businesses: A Business Growth Solutions Event” is now open and free of charge. Registered attendees will enjoy networking opportunities, delicious food, and receive one drink ticket.

As seating is limited to only 50 individuals, interested participants are encouraged to secure their spot early. To register and secure your spot, please visit rcedc.org/empowering-small-businesses.

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Madison, WI 53718

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