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Feds tell bank to raise capital

Customers should see few changes

August 26, 2010
For months, First Banking Center has been in the process of raising capital from private investors to improve its financial position following its losses during the rough economic times. The Federal Reserve has stated the bank is "significantly undercapitalized" and corrective action must be taken. The bank and the Federal Reserve had entered into an agreement in October 2009 requiring the bank's directors submit plans to improve the institution's financial position. Bank CEO Brant Chappell said Tuesday the institution has "been dealing with this for months."

Chamber wants to expand building

August 26, 2010
Three weeks ago, Lake Geneva aldermen wondered about the future of the Geneva Lake Area Chamber of Commerce building as part of the Flatiron Park improvement plan. On Monday night, chamber executive director George Hennerley presented a drawing to the council showing a footprint for a 700-square-foot addition to the current facility. The 16-by-38-foot addition would be located on the south side of the building on the side where the Andy Gump statue is located. "It will serve us well for a number of years," Hennerley said about the addition. It will allow the chamber to open up the entryway for more walk-in visitors and to display more brochures and information about its members.

Recent Lake Geneva News
UPDATE - Venetian Festival off to great start
August 19, 2010
Many local residents poured into Flatiron and Seminary parks to enjoy the first night of Venetian Festival Wednesday evening.Under clear skies and perfect temperatures, adults and children enjoyed the carnival rides, games and local food tents among other activities. The adults enjoyed the entertainment and beer tent.The annual event, which has been held by the Lake Geneva Jaycees since 1962, runs through Sunday night with the culmination of the festivities a fireworks display over the clear waters of Geneva Lake just off the shore near the Library and Riviera Beach.
Rain delays Edwards Boulevard extension completion to mid October
August 19, 2010
The $2 million Edwards Boulevard extension project is behind schedule because of weather. City Administrator Dennis Jordan said he hopes the project will be ready for traffic by Oct. 15.“They are about three weeks behind,” Jordan said. “We are hoping it will be open for traffic then.”
Mirbeau discovery on hold
Judge orders stay until motion heard
August 19, 2010
The discovery process of the $29 million lawsuit involving Mirbeau of Geneva Lake and the city of Lake Geneva is on hold.U.S. Eastern District Federal Court Judge J.P. Stadtmueller ordered last week that until the motions to dismiss as requested by the most recent defendants added to the suit are heard, the gathering of evidence and witness interviews will have to wait. Two weeks ago, Lake Geneva Mayor Jim Connors, Linn Township resident Richard Malmin, and Lower Density Development and its manager Tom Muenster asked the court to dismiss Mirbeau’s complaints against them. The same defendants, after receiving notices to appear for depositions for the case, requested to stay discovery.
Venetian centerpiece of busy August
August 12, 2010
The biggest annual event in Lake Geneva is celebrating its 48th year as Venetian Festival kicks off Wednesday, Aug. 18, and finishes with a boom Sunday Aug. 22.Maintaining its stature as the longest running outdoor celebration in the city, the event is set again for the shore of Geneva Lake in Flatiron Park with additional activities in Seminary and Library parks. Sponsored by the Lake Geneva Jaycees, the five-day festival features a carnival, craft fair, live music, water ski show, a lighted boat parade and fireworks display.“Families from all over Southern Wisconsin and Northern Illinois have been visiting Lake Geneva for years to take part in the fun and excitement that the festival brings to town,” said Matt Stinebrink, Venetian Festival chairman. “Each year we see more and more visitors enjoying the music, carnival, boat parade, fireworks and the many attractions the Lake Geneva area has to offer. And we’re anticipating greater attendance this year due to the cancellation of Chicago’s Venetian Festival.”
Mayor, others answer Mirbeau claims
August 12, 2010
The four defendants most recently added to Mirbeau of Geneva Lake’s $29 million claim against the city of Lake Geneva have responded to the accusations.Lake Geneva Mayor Jim Connors, Linn Township resident Richard Malmin, and Lower Density Development and its manager Tom Muenster are asking the court that Mirbeau’s complaints against them be dismissed.In three separate motions filed in U.S. District Court late last week, the defendants cited the statute of limitations has expired, that there is no basis or fact that infers conspiracy or interference, and there are improper procedures and law citations included within the complaint.
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