marshall & llsley corp annual reports 2003

TA B L E CONTENTS
OF

one 2003 FINANCIAL HIGHLIGHTS
two TO OUR SHAREHOLDERS
five BEYOND BRICKS AND MORTAR
six GROWTH IN TRADITIONAL AND NEW MARKETS
nine FINANCIAL INSTITUTIONS GROUP ACCELERATES
GROWTH BEYOND TRADITIONAL MARKETS
ten RETAIL BANKING CUSTOMERS BENEFIT FROM
NEW PRODUCT INTRODUCTIONS
thirteen BUSINESS AND COMMERCIAL BANKING
CONTINUE TO GROW CUSTOMER BASE
fourteen WEALTH MANAGEMENT BUSINESSES
FOCUS ON STRONG PERFORMANCE
seventeen METAVANTE CORPORATION: TURNING HIDDEN
REVENUE INTO PROFITS
twenty MARSHALL & ILSLEY CORPORATION OFFICERS
twenty-one MARSHALL & ILSLEY CORPORATION
BOARD OF DIRECTORS
twenty-two AFFILIATE BOARDS OF DIRECTORS
thirty-two SELECTED FINANCIAL DATA
thirty-seven CONSOLIDATED FINANCIAL INFORMATION
– MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL POSITION AND RESULTS OF OPERATIONS
– CONSOLIDATED FINANCIAL STATEMENTS
– INDEPENDENT AUDITORS’ REPORT AND
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS

inside back cover SHAREHOLDER INFORMATION

2003 FINANCIAL HIGHLIGHTS

2003 2002 2001
($000’s except share data)

OPERATING INCOME $545,629 $484,549 $420,976
NET INCOME 544,105 480,327 337,485

PER SHARE
Diluted – Operating Income $2.39 $2.18 $1.93
Diluted – Net Income 2.38 2.16 1.55
Dividends Declared 0.700 0.625 0.568
Shareholders’ Equity 15.00 13.51 11.65

FINANCIAL CONDITION – AVERAGE
Assets $33,268,021 $29,202,650 $26,370,309
Loans and Leases 24,392,591 21,028,444 18,201,142
Deposits 21,985,878 18,642,987 17,190,591
Shareholders’ Equity 3,240,654 2,766,690 2,429,559

OTHER SIGNIF ICANT DATA
Return on Average Shareholders’ Equity
Operating Income 16.84% 17.51% 17.33%
Net Income 16.79 17.36 13.89
Return on Average Assets
Operating Income 1.64 1.66 1.60
Net Income 1.64 1.64 1.28
Net Charge-Offs to Average Loans and Leases 0.21 0.21 0.22
Allowance for Loan and Lease Losses to
End of Period Loans and Leases 1.39 1.42 1.39

See page 36 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, 2003.

one

TO OUR SHAREHOLDERS

2003 was a significant year for M&I, in terms of record-breaking year, experiencing high volume for
expansion, success across our business lines, and the second year in a row, and Metavante Corporation
positive corporate earnings. Faced once again with returned to double-digit growth, posting an increase
an uncooperative economy, M&I maintained consistent of 16 percent in segment income for the year. Our
growth despite challenges facing the banking industry. historically excellent credit quality, loan growth, and
M&I stock increased 39.7 percent during the year, expense management also contributed to a strong year.
outperforming both the S&P 500 and our peers in
the banking industry.

We ended the year with $34.4 billion in assets. Net
income for the year ended December 31, 2003 was
$2.38 per diluted share, or $544.1 million, as com-
pared to $2.16 per diluted share, or $480.3 million,
in 2002. Net income per share for 2003 increased
10.2 percent over 2002. Operating income for the
year ended December 31, 2003, which excludes
transition-related expenses associated with Metavante
Corporation’s Paytrust acquisition, was $2.39 per
diluted share, or $545.6 million, as compared to
$2.18 per diluted share, or $484.5 million, in 2002.
Operating income per share increased 9.6 percent
in 2003 over 2002.

Throughout 2003, we experienced successes across
the Corporation. Our mortgage company had another

James B. Wigdale, Chairman of the Board, Marshall & Ilsley Corporation, and Dennis J. Kuester, President and Chief
Executive Officer, Marshall & Ilsley Corporation; Chairman of the Board and Chief Executive Officer, M& I Marshall & Ilsley
Bank; and Chairman of the Board, Metavante Corporation, in front of M& I’s annual holiday display, M& I’s holiday gift to the
community for over 30 years.

two

We increased the number of banking offices in the whether we’re establishing new locations in our core
fast-growing Arizona market from 24 to 28, with markets or reaching more customers nationwide
plans to open more offices in Arizona, St. Louis, through services such as outsourcing, wealth manage-
and Minnesota in 2004, through which we will have ment, or investments.
the opportunity to welcome many new customers
and employees to the M&I family. We are also pleased Our goal is to provide you, our shareholders, with
to have new offices in Duluth, Minnesota, and Bonita a favorable long-term return on your investment
Springs, Florida. by continuing to perform in the top quartile of our
banking peers in profitability and growth.
Our expansion efforts have served us well, and will
continue to benefit us as we grow marketshare and pro- Our achievements in 2003 would not have been
vide our customers with the products and services that possible without the dedication of our employees
will help them succeed. Our vision, however, is to provide corporate-wide and the experienced leadership of
high-quality financial products and services to every consumer M&I executive management. This year we were
and business in the United States, either directly through the pleased to welcome two additions: In March,
M& I brand or indirectly through other financial institutions. Frank Martire became President and Chief
Executive Officer of Metavante Corporation, and
For this reason, in addition to targeted expansion in in June, Ken Krei joined Marshall & Ilsley Trust
both traditional and new markets, we’re moving Company N.A. as President and Chief Executive
beyond a traditional “bricks and mortar” philosophy Officer. We look forward to working with them
to address the needs of individuals, businesses, and in the years to come.
corporations nationwide. We continue to expand our
physical presence, but at the same time are exploring Sincerely,
new ways to reach customers outside our traditional
M&I footprint.

Now, with M&I or Metavante offices in 26 states and James B. Wigdale Dennis J. Kuester
with customers in all 50, M&I truly is a national Chairman President and
financial services provider. We will continue to pursue Chief Executive Officer
all opportunities to grow our national presence,

three

Metavante Processing
(Customers in 50 states)
Banking Offices
(Offices in 7 states)
Investment Services
Correspondent Banking Loan
and Deposit Relationships
M&I Home Lending Solutions
Metavante Corporation
Item Processing
Dealer Finance
M&I First National Leasing
Marshall & Ilsley Trust
Company N.A.

BEYOND BRICKS M O RTA R TM
AND

With M&I or Metavante locations throughout the through the M&I brand or indirectly through other
United States and customers in all 50 states, Marshall financial institutions, has never been more possible
& Ilsley Corporation has proven itself as a national than it is today.
financial services provider. Through our extensive
network of offices and the efforts of our employees Throughout this annual report, we have featured several
to connect customers with the M&I professionals, companies from across the United States that, although
products, and services to meet their needs, we are outside of M&I’s traditional markets, utilize M&I
able to reach customers regardless of where they services to meet their financial needs. These compa-
live or do business. nies, from Spokane, Washington, to Philadelphia,
Pennsylvania, are but a few examples of our efforts
As a result, our vision of providing high-quality to go beyond traditional bricks and mortar to reach
financial products and services to every consumer potential customers from coast to coast.
and business in the United States, either directly

Stephen Butterfield, Co-Chief Executive Officer and Vice Chairman of Nelnet, visits with students on the campus of Southwestern
College in Arizona. Nelnet, one of the leading education finance companies in the United States, is headquartered in Lincoln,
Nebraska. Nelnet uses M& I’s Correspondent Banking services and recently became M& I’s student loan servicer for Arizona.

five

GROWTH TRADITIONAL NEW MARKETS
IN AND

Throughout 2003, we continued to expand within our and in Minnesota, a new location in Duluth brings
core markets, opening new offices in areas of growth our total Minnesota locations to 11.
and enhancing our presence nationwide.
The acquisition of AmerUs Home Lending in
In our home state of Wisconsin, M&I Marshall & Urbandale, Iowa, will assist us in expanding our
Ilsley Bank currently has 199 offices, and continues product line and distribution channel in the wholesale
to be the marketshare leader in the state. real estate lending market. At the start of 2004,
M&I’s Home Equity division had customers in
In Arizona, we opened four new offices during the 45 states and 56 home equity representatives. In
year. The reception to this expanded network of 2003, M&I Home Lending Solutions experienced
offices has been very positive. We experienced an increase in loan production and correspondent
34 percent growth in the Arizona market in 2003, business, resulting in a 43 percent increase in average
growing faster than the market itself, and will open outstandings.
additional offices in 2004.
We look forward to exploring additional opportuni-
We completed the integration of Southwest Bank of ties for growth in the future, both in markets M&I
St. Louis in February of 2003, and later in the year has traditionally served, and new markets where we
acquired the employee benefit plan business of United can lay a solid foundation for success.
Missouri Bank. The addition of private banking and
enhancement of our mortgage services at Southwest As always, we will continue to work hard to antici-
Bank of St. Louis will continue to play a significant role pate our customers’ needs and expand our product
in building M&I’s reputation in this growing market. and service offerings throughout the M&I network
to best serve our current and future customers.
A new Private Bank office in Bonita Springs, Florida,
enhances our presence in the greater Naples area,

Riteway Bus Service, Germantown, Wisconsin, discovered the benefits of prepaid cards available through M& I’s Treasury
Management area. Drivers such as Monica Bailey, pictured with Ronald Bast, President, Riteway Bus Service, use them for the
convenience they offer in paying daily expenses incurred while on the road.

six

FINANCIAL INSTITUTIONS GROUP
A C C E L E R AT E S G R O W T H
BEYOND TRADITIONAL MARKETS

M&I’s Financial Institutions Group (FIG) has played leads. Not surprisingly, it has also enabled us to signifi-
a vital role in helping M&I move beyond its traditional cantly grow our business beyond our traditional
market footprint. Through FIG, M&I business lines markets. The impact of the Financial Institutions
that specialize in serving financial institutions have Group is substantial; by the end of the year, we
the opportunity to further assist customers nationwide were able to close many product sales to customers
by referring them to other financial specialists through- throughout the United States – sales that were
out M&I. facilitated through FIG’s strong referral network.

Independently, the areas of Trust, Treasury FIG has also had a tremendous impact on our success
Management, Support Services, Correspondent at the business-line level. Correspondent Banking now
Banking, Investment Services, Metavante Corporation, has correspondent loan and deposit relationships in
and Strategic Sales Outsourcing have, in the past, 37 states, and Investment Services serves financial
provided financial institutions and other customers institutions in 25 states. In addition, as a leading
with the products and services they require. Together, technology provider, Metavante Corporation now
the members of FIG act as a team, providing serves over 5,000 financial institutions in 50 states
customers with a unique set of solutions to help them and 23 countries.
achieve their goals of increasing customer satisfaction,
market share, and profitability. This relatively new As a member of FIG, Metavante Corporation provides
combined sales effort has driven growth throughout us with a unique advantage few of our competitors
the Corporation and promises to play a key role in can match. As a software and processing provider,
M&I’s strategy to grow its customer base in the future. Metavante ensures our customers have access to the
products, services, and specialists to meet their tech-
The FIG business-partner approach has served M&I nology needs – in addition to the traditional financial
well, resulting in increased customer retention, new services offered through M&I.
cross-selling opportunities, and high-quality business

Doug Brodzik, Senior Vice President, M& I Marshall & Ilsley Bank, visits Arthur Birenbaum, Executive Vice President,
Head Commercial Lender, and Scott Megargee, Executive Vice President, Chief Lending Officer, both of Philadelphia,
Pennsylvania-based The Bancorp Bank, a client of M& I’s Financial Institutions Group. M& I Bank and The Bancorp Bank
work jointly on business endeavors, including the financing of projects for developers such as Allan Domb. Domb developed
The Barclay Hotel (pictured here), a condominium building located in center city Philadelphia.

nine

R E TA I L B A N K I N G C U S T O M E R S B E N E F I T
FROM NEW PRODUCT INTRODUCTIONS

Our retail banking customers continue to have more imaging positions us well to realize the benefits of this
choices than ever before, with 24-hour banking by new law.
phone and on the Internet, and local offices in regions
across the country, offering products and services We’re also making it easier for individuals who are
designed to meet all their financial needs. seeking new car loans to be approved immediately,
onsite at the dealership. M&I Dealer Finance, working
And now, the new M&I Rewards program offers in conjunction with Metavante Corporation, offers
customers even more reasons to bank with M&I. DealerTrackTM, new technology that enables dealers
By using the M&I Rewards Credit Card and the to receive real-time approvals for their customers.
M&I Rewards Check Card, customers earn points M&I Dealer Finance experienced a 35 percent
and redeem them for valuable rewards including gift increase in production over 2002 by building stronger
cards, entertainment, hotel stays – even airline tickets dealer relationships and improving service through
and cruises. Customers have been reaping the rewards advances in technology, such as DealerTrack.
of using these valuable cards since the program’s
introduction in early 2003. College students also have new financing opportunities
through M&I Alternative Student Loans, a product that
To assist our business and community banking complements M&I’s Stafford and Parent PLUS loans
customers in efficiently managing their M&I checking and is designed for students who do not receive enough
accounts, we introduced a new check imaging service. financial aid to cover college costs.
Now, instead of receiving cancelled checks in the mail,
or requesting a copy of a specific check as needed, And, for the third year in a row, M&I retail customers
customers can access check images online. By October made the most of the low interest rate environment to
st
2004, the Check Clearing for the 21 Century Act will purchase new homes or refinance their mortgage loans.
require all banks to process checks electronically – We surpassed $5.3 billion in mortgage loan volume,
one of the first steps in a nationwide effort to eliminate exceeding 2002 by almost $1 billion, and served more
paper check processing. M&I’s introduction of check than 30,000 customers during the year.

Customers are quickly discovering the value of the new M& I Rewards program, which offers the opportunity to earn valuable
rewards simply by using the M& I Rewards Credit Card and the M& I Rewards Check Card. When customers use their Rewards
card at retailers, such as M& I customer American TV and Appliance (pictured opposite), they earn points that can be redeemed
for gift certificates, travel packages, and more.

ten

BUSINESS COMMERCIAL BANKING
AND

CONTINUE GROW CUSTOMER BASE
TO

M&I’s Commercial Banking division succeeded in being named the number-one small business lender
securing new business throughout the year despite by the U.S. Small Business Administration.
an economy that was financially challenging for both
existing and potential customers. Growth in deposit- For our treasury management customers, M&I’s
based relationships and cross-selling within our exist- prepaid cards continue to increase in popularity,
ing customer base continue to be important strategies providing employers with the means to reward or
in successfully serving our customers’ needs. In 2003, pay their employees with a disposable or reloadable
we also added a significant number of new customer card that can be used much like a credit or debit card.
relationships in all our markets, while maintaining In addition, municipalities and nonprofit organiza-
M&I’s high standards of credit quality. tions are learning the value of M&I’s Civic Checking,
a product that offers flexible deposit solutions for
Our commercial real estate business experienced its our customers.
third straight year of strong growth across all markets.
An active housing market resulted in an increase in In addition to businesses and commercial entities,
financing of investor-owned commercial real estate, other financial institutions rely on M&I for the services
and was a key factor in the year’s significant growth. we can provide to both the financial institution and its
At year-end, M&I’s commercial real estate business customers. These services, provided through M&I’s
topped $8.2 billion. Correspondent Banking division, include deposit
and lending services, plus treasury management and
M&I’s small business lending continued to grow international services. In 2003, as customers took
in 2003, ending the year with a 14.3 percent annual advantage of low interest rates to pay off loans,
growth rate. M&I’s small business portfolio, repre- Correspondent Banking pursued new business by
senting borrowing relationships of up to $500,000, expanding into new market territories and taking
grew to over $1.1 billion during the year. In advantage of opportunities presented by M&I’s
Wisconsin, M&I again earned the distinction of Financial Institutions Group.

Randy Brown, Chief Executive Officer, AGSCO, and Katie Kelley, Executive Vice President, Regional Manager, Commercial
Banking, M& I Bank, Minnesota, at AGSCO’s headquarters in Grand Forks, North Dakota. M& I provides a full
complement of commercial banking products to the Brown family of companies, including AGSCO, a retailer and distributor of
agricultural products.

thirteen

W E A LT H M A N A G E M E N T B U S I N E S S E S
FOCUS STRONG PERFORMANCE
ON

As of December 31, 2003, M&I Investment in 14 of 18 categories as surveyed by PLANSPONSOR
Management Corp. (IMC) managed $15.7 billion magazine, surpassing its already high rating from the
in assets. Strong investment performance remains prior year. M&I received Best in Class ratings for its
the primary focus at IMC and 2003 was no different, services in categories such as reporting accuracy and
especially for the Mid-Cap Value, Small-Cap timeliness, range of investment options, Internet ser-
Growth, and Money Market strategies. Each fin- vices, participant call center, employee communication
ished in the top 15 percent of their respective peer materials, and account representative expertise.
groups for the three years ending December 2003.
M&I Trust Operations Outsourcing experienced
M&I’s Custom Quantitative Solutions Group created a successful sales year, broadening its footprint of
the M&I High Dividend Strategy to provide cus- serving the back-office needs of financial services
tomers with increased income and less stock market companies throughout the United States, most of
volatility, attracting $100 million in new assets in which are outside of M&I’s traditional markets.
the program’s first twelve months. The Marshall Asset Working together, Metavante Corporation and M&I
Allocation Program (MAAP), a product made up of Trust Operations Outsourcing provide the technology
M&I’s own Marshall Funds and other leading mutual and personnel required to meet all of an organization’s
funds, experienced another successful year, reaching trust technology and operations needs.
over $1 billion in investments for the first time.
Interest in the complete IMC line-up continues to Our Wealth Management area continues to grow
grow within the institutional marketplace. as we serve the needs of affluent customers in all
our regions and integrate these services as part of
Marshall & Ilsley Trust Company N.A. currently serves an offering that also includes private banking and
more than 1,200 company relationships through its brokerage services. We continue to attract new
commercial trust services, including nearly 430,000 customers and enhance existing relationships through
participants in 401(k) and other defined contribution a comprehensive offering of products and services.
plans. In 2003, the company was rated Best in Class

Sue Bernarde, Vice President, Marshall & Ilsley Trust Company N.A., and Wayne Klomstad (far right), Vice President, Marshall
& Ilsley Trust Company N.A., meet with Jack Heath, President and Chief Operating Officer, and Tom Nesbitt, Trust Administration
Manager, both of Washington Trust Bank, an M&I trust operations outsourcing customer based in Spokane, Washington.

fourteen

M E TAVA N T E C O R P O R AT I O N :
TURNING HIDDEN REVENUE INTO PROFITS

During 2003, Metavante Corporation added financial The Metavante electronic banking solution is
services clients located beyond the bounds of the con- designed to enhance the delivery of electronic infor-
tiguous United States, ranging from Puerto Rico to mation to financial institutions, while the Metavante
Guam, and document composition software clients electronic presentment and payment solution is
throughout Europe, from Norway to Italy. To serve designed to add value to payment transactions.
these clients, our customer service centers are staffed Metavante also provides these technologies to other
24 hours a day, seven days a week, 365 days a year. industries including insurance, telecommunications,
The goal: never miss a beat in delivering premier and utilities.
customer care.
With several large banks converting to the Metavante
Anywhere, Anytime Account Access financial account processing system during 2003,
Metavante financial services clients are located in six including Bank of Hawaii, Banco Popular North
time zones throughout North America, stretching America, and Mellon Financial Corporation, the
from Puerto Rico to the Hawaiian Islands, from the number of deposit accounts the company processes
Atlantic to the Pacific Oceans. Yet, our clients’ cus- increased to nearly 17 million.
tomers may be located anywhere. Our online banking
and bill payment technologies help meet their end- Equipping financial institutions with advanced
customer needs by providing financial account access technology is at the heart of the Metavante
from anywhere in the world over the Internet. business strategy, primarily by cross-selling
new technologies within its core constituency
Throughout the year, Metavante demonstrated its of financial account processing clients. The
proven technology leadership as it converted many Metavante Financial Services Group drove over
financial institution clients and their tens of thousands 900 new client-sales or cross-sales during 2003.
of customers onto new consumer electronic banking In addition, the group signed 24 client renewals
and bill payment platforms that provide enhanced during the year, including City National Bank,
end-user experiences and added conveniences. MidFirst Bank, and Synovus.

Gary Geisel, Chairman and Chief Executive Officer, Provident Bankshares Corporation, and Provident Bank’s Group
Manager, Operations, Russell Johnson (foreground) discuss services provided by Metavante Corporation. The Baltimore,
Maryland-based bank is a Metavante core processing client that also uses Metavante’s customer relationship management prod-
ucts, electronic funds transfer and card products, and eFinance products.

seventeen

Improving Efficiency and Profitability in cross-selling products and services. Enterprise
Capitalizing on its consulting expertise in financial contact management is one CRM technology that
services, wealth management, and technology, many Metavante clients – including Provident Bank
Metavante introduced a new marketing campaign in in Baltimore – use to help keep bank and branch
mid-2003 with the theme, “Turning Hidden Revenue personnel informed about clients’ needs and services.
Into Profits.” Many financial institutions, including
Bank of Hawaii and Columbia Bank of Tacoma, Analyzing information about clients and understand-
Washington, engaged Metavante consultants in business ing their banking habits and financial needs is also
process improvement projects, which can be tied to critical to the successful selling of financial products.
a system conversion or to a bank management’s desire During 2003, Metavante introduced the Business
to improve efficiency and profitability. With a staff Intelligence Center analytics solution that connects
exceeding 200 business consultants, many of whom built with the Metavante Data Warehouse. This new
their careers in the banking industry, Metavante has the tool provides an enterprise view of a financial
resources necessary to help a financial organization institution and makes information and reports
analyze its strengths and weaknesses, and recommend available to a greater number of employees throughout
ways to improve its operations to drive efficiency an organization.
improvements or enhance profitability.
Debit and Prepaid Cards Expand
To increase client value, consulting and professional The Metavante Electronic Funds Group continued
services conducts opportunity assessments, which result to expand its services and clients during 2003, and
in recommendations to change the way processes are saw continued growth in its prepaid and debit card
handled and to adopt technology enhancements. programs. Discover Financial Services selected
Through customer relationship management (CRM) Metavante to deliver a flexible card solution for its
consulting, the introduction of additional technologies clients, which includes the production and process-
can equip branch personnel with powerful tools useful ing of gift cards on the Discover®/Novus network.

eighteen

Several Metavante clients, including City National In 2004, Metavante will mark its 40th year of opera-
Bank of Florida, have introduced payroll cards as tions by renewing its longstanding commitment to put
an alternative to issuing and cashing payroll checks. its clients and their customers first. Metavante products
The product, which helps a financial institution and services will continue to lead the efforts of our
strengthen its commercial relationships, also helps Financial Institutions Group to provide high-quality
businesses reduce payroll costs. Payroll cards replace financial products and services to every consumer
traditional paychecks, are convenient for recipients, and business in the United States either directly
and provide cost savings to employers. through the M&I brand or indirectly through other
financial institutions. The entire Metavante team is
Metavante continued to expand its services to the dedicated to improving our clients’ efficiency and
transit industry by establishing relationships with profitability through premier customer care, financial
the Chicago Transit Authority and with the Regional services expertise, and proven technology leadership.
Transportation Commission of Southern Nevada.
Late in 2003, Metavante acquired Printing For
Systems, Inc. (PSI), to extend its card products into
the healthcare insurance market. PSI, of Madison,
Connecticut, is a leading application service provider
to the insurance industry, Fortune 500 corporations,

©Photographers Library LTD/eStock Photo/PictureQuest
and progressive marketing organizations, and is a
leading provider of healthcare identification cards.

The Metavante commitment to providing clients with
the best technology and support available continued
in 2003 through an investment of $130 million in
acquired technology, research, and development.

Metavante total bill management services give financial institution customers the ability to receive, review, and pay their bills over
the Internet from anywhere, at anytime.

nineteen

M A R S H A L L & I L S L E Y C O R P O R AT I O N
OFFICERS

James B. Wigdale Dennis J. Kuester Thomas M. Bolger Mark F. Furlong
Chairman of the Board, President & CEO, Executive Vice President, Executive Vice President &
Marshall & Ilsley Corporation Marshall & Ilsley Corporation Marshall & Ilsley Corporation Chief Financial Officer,
Chairman of the Board and CEO, President, Marshall & Ilsley Corporation
M&I Marshall & Ilsley Bank M&I Marshall & Ilsley Bank Chief Financial Officer,
Chairman of the Board, M&I Marshall & Ilsley Bank
Metavante Corporation

Ryan R. Deneen Randall J. Erickson Mark R. Hogan Patricia R. Justiliano
Senior Vice President & Senior Vice President, Senior Vice President & Senior Vice President &
Director of Corporate Tax, General Counsel & Corporate Secretary, Chief Credit Officer, Corporate Controller,
Marshall & Ilsley Corporation Marshall & Ilsley Corporation Marshall & Ilsley Corporation Marshall & Ilsley Corporation

Kenneth C. Krei Nancy A. Maas Frank R. Martire Thomas J. O’Neill
Senior Vice President, Senior Vice President & Senior Vice President, Senior Vice President,
Marshall & Ilsley Corporation Director of Corporate Marketing, Marshall & Ilsley Corporation Marshall & Ilsley Corporation
President & CEO, Marshall & Ilsley Marshall & Ilsley Corporation President & CEO, Executive Vice President,
Trust Company N.A. Metavante Corporation M&I Marshall & Ilsley Bank
President, M&I Bank FSB

Paul J. Renard John L. Roberts Thomas A. Root Jeffrey V. Williams Donald H. Wilson
Senior Vice President & Senior Vice President, Senior Vice President & Senior Vice President, Senior Vice President &
Director of Human Resources, Marshall & Ilsley Corporation Audit Director, Marshall & Ilsley Corporation Corporate Treasurer,
Marshall & Ilsley Corporation President, M&I Support Services Corp. Marshall & Ilsley Corporation Chairman of the Board, Marshall & Ilsley Corporation
Marshall & Ilsley Trust Company N.A.
CEO, M&I Brokerage Services, Inc.

twenty

M A R S H A L L & I L S L E Y C O R P O R AT I O N
BOARD DIRECTORS
OF

MARSHALL & ILSLEY Dennis J. Kuester James A. Urdan
President and Chief Executive Officer, Partner, retired, Quarles & Brady, a law firm
CORPORATION
Marshall & Ilsley Corporation
George E. Wardeberg
770 North Water Street
Chairman of the Board and Vice Chairman of the Board, retired,
Milwaukee, WI 53202 Chief Executive Officer, Wisconsin Energy Corporation, a holding
(414) 765-7700 M&I Marshall & Ilsley Bank company with subsidiaries in utility and
non-utility businesses
www.micorp.com Chairman of the Board,
Metavante Corporation James B. Wigdale
DIRECTORS Katharine C. Lyall Chairman of the Board,
Richard A. Abdoo President, University of Wisconsin System
Chairman of the Board and Chief Executive John A. Mellowes DIRECTORS EMERITI
Officer, Wisconsin Energy Corporation, a
Chairman of the Board and Chief Executive
holding company with subsidiaries in utility
Oscar C. Boldt
Officer, Charter Manufacturing Company,
and non-utility businesses
Inc., a producer of bar, rod, wire, and Wendell F. Bueche
Chairman of the Board, We Energies wire parts for the auto industry and Glenn A. Francke
other industries
David L. Andreas Burleigh E. Jacobs
Edward L. Meyer, Jr.
Former President and Chief Executive Officer, James F. Kress
National City Bancorporation, a bank Chairman of the Board, Anamax Don R. O’Hare
holding company Corporation, a processor and manufacturer
Stuart W. Tisdale
of various rendered products
Andrew N. Baur James O. Wright
San W. Orr, Jr.
Chairman of the Board, Southwest Bank of
Gus A. Zuehlke
St. Louis Chairman of the Board, Wausau-
Mosinee Paper Corporation
Jon F. Chait
Robert J. O’Toole
Chairman of the Board, Chief Executive
Officer, and President, Hudson Highland Chairman of the Board, President, and
Group, Inc., a provider of workforce staffing Chief Executive Officer, A.O. Smith
and search services Corporation, a manufacturer of electric
motors and water systems technologies
Bruce E. Jacobs
Peter M. Platten III
President and Chief Executive Officer,
Grede Foundries, Inc., a manufacturer Vice Chairman of the Board, retired,
of gray and ductile iron, steel, and alloyed Marshall & Ilsley Corporation
castings
Robert A. Schaefer
Donald R. Johnson Former Executive Vice President and
Chairman of the Board, retired, Chief Operating Officer, retired,
Modine Manufacturing Company, Security Capital Corporation,
a provider of heat-transfer and a bank holding company
heat-storage technology
John S. Shiely
Ted D. Kellner, CFA Chairman of the Board, President,
Chairman of the Board and and Chief Executive Officer,
Chief Executive Officer, Briggs & Stratton Corporation,
Fiduciary Management, Inc., a manufacturer of gasoline engines
an investment management firm for outdoor power equipment

twenty-one

A F F I L I AT E B O A R D S DIRECTORS
OF

M&I MARSHALL ARIZONA MINNESOTA
& ILSLEY BANK COMMUNITY BANK COMMUNITY BANK
BOARD OF DIRECTORS BOARD OF DIRECTORS
770 North Water Street
Milwaukee, WI 53202 John G. Barry David Andreas
Executive Vice President and Commercial Former President and Chief Executive Officer,
(414) 765-7700
Bank Manager, M&I Marshall & Ilsley National City Bancorporation
www.mibank.com Bank, Arizona
Marty Chorzempa
DIRECTORS Gary S. Clancy Chairman, retired, Richfield Bank & Trust
Managing Member, Recycled Business
Kim Culp
Richard A. Abdoo Systems, L.L.C.
Chairman, M&I Marshall & Ilsley Bank,
Vaughn S. Corley Minnesota Region
Officer, Wisconsin Energy Corporation
Executive Vice President and General
Mike Fiterman
Chairman of the Board, We Energies
Manager, retired, Arizona Portland
Thomas M. Bolger Cement Co.
Liberty Diversified Products
President, M&I Marshall & Ilsley Bank
P. Robert Fannin
Esperanza Guerrero-Anderson
Executive Vice President, Marshall & Ilsley Partner, Steptoe & Johnson, LLP
Corporation
Michael C. Francis Milestone Growth Fund, Inc.
Bruce E. Jacobs Owner/Manager, Francis Insurance Agency
Michael Horovitz
Dennis R. Jones Owner and President, Minneapolis
Grede Foundries, Inc.
Chairman and President, M&I Marshall Glass Company
Dennis J. Kuester & Ilsley Bank, Arizona
Katie Kelley
Thomas C. Lathrop Executive Vice President, M&I Marshall
Officer, M&I Marshall & Ilsley Bank
Chairman, retired, M&I Thunderbird Bank & Ilsley Bank, Minnesota
Susan Goldwater Levine William J. Klein
Executive Director, Hospice of the Valley President, M&I Marshall & Ilsley Bank,
Chairman of the Board, Metavante Corporation
Minnesota
Michael K. McCartney
James A. Urdan
David Malmberg
President, Marshall & Ilsley Trust Company
Partner, retired, Quarles & Brady
N.A., Arizona Chairman of the Board, Sagebrush
George E. Wardeberg Corporation
Charles F. Sands
Vice Chairman of the Board, retired,
Roger Scherer
President, Nutribiotech LLC; JED C, LLC
Wisconsin Energy Corporation
Chairman of the Board, Scherer Brothers
Richard H. Whitney
James B. Wigdale Lumber Company
Partner, Gust Rosenfeld P.L.C.
Chairman of the Board, Marshall & Ilsley
Sheldon Wert
D. Otis Wolkins
Corporation
Former President and Chief Executive Officer,
Vice President, retired, GTE Service
DIRECTORS EMERITI Century Bancshares, Inc.
Corporation
Wendell F. Bueche Stephen A. Wood
John E. Forester President, Insurers Administrative
Carl L. Gosewehr Corporation
Burleigh E. Jacobs Leyton S. Woolf, Jr.
Orville R. Mertz Owner/Farmer, Woolf Roses, L.L.C.
David F. Nelson
Douglas Seaman
Leo E. Suycott
Stuart W. Tisdale
James O. Wright

twenty-two

OF

WISCONSIN – APPLETON WISCONSIN – BROOKFIELD WISCONSIN – BURLINGTON
COMMUNITY BANK COMMUNITY BANK COMMUNITY BANK
BOARD OF DIRECTORS BOARD OF DIRECTORS BOARD OF DIRECTORS
Thomas J. Boldt J. Nathan Cunniff James R. Bauman
Chief Executive Officer, The Boldt Company President, M&I Marshall & Ilsley Bank, Chairman, M&I Marshall & Ilsley Bank,
Brookfield Burlington
John A. Bykowski
Robert H. Eldridge Glenda Dupons
Secura Insurance Companies Executive Vice President and Secretary- President, Bear Realty Inc.
Treasurer, retired, Briggs & Stratton
Stephen M. Evans Frederick J. Koenen
Corporation
President, Evans Title Companies, Inc. Chairman of the Board, Reineman’s True
John R. Evans Value Inc.
David J. Gitter
President, retired, Evans Brothers
John L. Malchine
President, M&I Marshall & Ilsley Bank,
Company, Inc.
Appleton Farmer
Andrew J. Fleckenstein
James R. Hayes Lawrence Smith
Trustee, Fleck Foundation
President and Chief Executive Officer, retired, Larry’s Barber Shop
W. P. Halquist
Hayes Manufacturing Group, Inc.
James F. Weis
Chairman of the Board, Halquist Stone
Paul J. Heid President, May’s Insurance Agency
Co., Inc.
President, Heid Music Company, Inc.
Irv Hansen WISCONSIN – EAGLE RIVER
Mary M. Hosmer
COMMUNITY BANK
Account Executive/Owner, Insurance
Brookfield
Services, Inc. BOARD OF DIRECTORS
James E. Keyes
John E. Pfefferle Al Block
Chairman of the Board, KSM Industries, Inc.
President, Grubb & Ellis/Pfefferle Owner, retired, A. L. Block Realty
James M. Leef
Lawrence W. Wirth Al Bybee
President, Industrial Towel & Uniform, Inc.
President, retired, Presto Products, Inc. Food Broker, retired
Gordon J. Liebl
C. Randall Cox
President, A. L. Schutzman Co., Inc.
DIRECTOR EMERITUS
Consultant
Aldo Madrigrano
Gus A. Zuehlke
T. J. Doyle, D.D.S.
President, W.O.W. Distributing Co., Inc.
Thomas Gaffney
Randall J. Wright
WISCONSIN – ASHLAND
Owner, retired, Gaffney Funeral Home
COMMUNITY BANK
Empire Level Mfg. Corp.
Darryl Gremban, D.D.S.
BOARD OF DIRECTORS
Richard D. Hansen
DIRECTORS EMERITI
Paul R. Bretting
Past President, M&I Marshall & Ilsley
Vice President, C. G. Bretting Manufacturing Glenn A. Francke Bank, Eagle River
Company, Inc.
Philip K. Harvey
James E. Levandoski
Donald N. Marcouiller John P. Metzger
Regional Administrator, Wisconsin Indianhead Gerry E. Seider Eagle River
Technical College, Ashland Campus
Donald A. Trepte
Peter P. Viater
Ashland
Leslie J. Whiteaker
Vice President and Chief Financial Officer,
Memorial Medical Center

twenty-three

OF

WISCONSIN – EAU CLAIRE WISCONSIN – GREEN BAY WISCONSIN – HARTLAND
Robert R. Hood Richard G. Baumgarten Steven C. Boysa
President, M&I Marshall & Ilsley Bank, President, retired, M&I Fox Heights Bank Chairman of the Board, Creative Equities
Eau Claire Company, Inc.
Michael B. Gage
John A. Lubs Robert C. Goff
Investor
President, Mason Shoe Mfg. Co. President, Goff’s Auto Body, Inc.
John M. Jones
James D. Myers Stanley F. Hack
Executive Vice President and Chief Operating
Vice President, Pleasant Hill Farm, Inc. Officer, Green Bay Packers Attorney
Peter B. Scobie Michael J. Langenhorst Arthur T. Kraemer
President, R. W. Scobie, Inc. President, Anamax Corporation Chairman, M&I Marshall & Ilsley Bank,
Hartland
Steven R. Senn Peter D. Mancuso
Scott A. Kraemer
Chief Executive Officer, Senn Blacktop, Inc. Chief Executive Officer, Lindquist
Machine Co. President, M&I Marshall & Ilsley Bank,
Roger R. Sipple
Hartland
Edward L. Meyer, Jr.
Roger & Donald Sipple Farm
Donald L. McNeil
Chairman of the Board, Anamax
Daniel J. Toycen
Corporation Retired, Executive Director, Inc.
President, Toycen Motors, Inc.
Ann M. Murphy Richard A. Natalizio
President, Toycen of Ladysmith, Inc.
Vice President, Murphy Development, Inc. Chairman of the Board, HNI Company, Inc.
Kenneth C. Vance
Thomas M. Olejniczak Charles L. Rushman
President, Ken Vance Car City Inc.
Partner, Liebmann, Conway, Olejniczak & Chairman, First Weber Realty
President, Ken Vance Motors, Inc. Jerry, S.C.
Paul J. Schmidt
Peter M. Platten III President, retired, Collections Unlimited, Inc.
Former Chairman of the Board, M&I Bank
Sheldon Volk
Northeast
Executive Vice President, retired, M&I Lake
Vice Chairman of the Board, retired, Country Bank
Dennis H. Wollenzien
Michael D. Simmer President and Chief Operating Officer, retired,
President, M&I Marshall & Ilsley Bank, M&I Lake Country Bank
Green Bay
DIRECTORS EMERITI
Ronald A. Weyers
Patrick A. Corcoran
DIRECTORS EMERITI Anton R. Grasch
Charles J. Herro
William R. Bodart
William Hollenbeck
Carl Farah
J. Scott Kestly
Richard K. Mueller
August U. Pabst
Charles A. Perry
Richard A. Schmidt
Thomas J. Waldera

twenty-four

OF

WISCONSIN – JANESVILLE WISCONSIN – KENOSHA WISCONSIN – MADISON
Frank E. Bauchiero Kenneth L. Fellman Timothy B. Erdman
Consultant President, M&I Marshall & Ilsley Bank, Chairman and Chief Executive Officer,
Kenosha Marshall Erdman & Assoc.
J. Michael Borden
Robert G. Terwall John M. Flesch
President, Hufcor, Inc.
President, Cherry Electrical Products Executive Vice President and Treasurer,
Mark A. Cullen
Gordon Flesch Company, Inc.
Dennis Vignieri
President, J. P. Cullen & Sons
Harold F. Mayer
Richard L. Dashnaw
Kenosha Beef International Limited Vice President Operations, retired,
Retired, Coltec Industries
Oscar Mayer Foods Corp.
Michael W. Wells
John H. Franz Robert F. O’Loughlin
President, Frank L. Wells Company
Consultant
President, Softspikes, Inc.
Dennis L. Hansch WISCONSIN – LA CROSSE Richard R. Renk
Attorney, Nowlan & Mouat
COMMUNITY BANK President, The Renk Seed Company
Charles H. Harker BOARD OF DIRECTORS Douglas G. Reuhl
President, Mid-States Concrete
President, American of Madison
Dr. Julio J. Bird, M.D.
Mary E. Kilkenny Robert A. Schlicht
Gundersen Lutheran
Broker, Keefe Real Estate
Karl J. Brickl
Michael J. Murphy Madison
President, Brickl Bros., Inc.
President, Chief Executive Officer, and Owner, Terry K. Shockley
Russell J. Callahan, Jr.
Southeastern Wisconsin Title Company, Inc.
President, Shockley Group, Inc.
Retired, Herbergers
Ronald K. Ochs Jay L. Smith
Randolph A. Eddy, Sr.
President, JLS Investment Group
President, Carrier Insurance Agency
Janesville
F. Charles Steinhauer
James H. Fullerton
James F. Ruethling
Vice President, Madison Dairy Produce
Administrator, Beloit Clinic, S.C.
Jerry J. Weygandt
La Crosse
David A. Weber
Professor of Accounting, UW School
Al L. Lindsay
President, Mode Industries, Inc.
of Business
Senior Vice President, M&I Marshall &
Ilsley Bank, La Crosse
DIRECTOR EMERITUS
Barbara Skogen
Donald P. Ryan
Vice President, Skogen’s Foodliner, Inc.
Ronald A. Wessels
La Crosse

twenty-five

OF

WISCONSIN – MARSHFIELD WISCONSIN – MAYVILLE DIRECTORS EMERITI
COMMUNITY BANK COMMUNITY BANK Gerald S. Parshalle
BOARD OF DIRECTORS BOARD OF DIRECTORS Don A. Schneiders
A. W. Zillmer
John Baltus Melvin Drinkwine
President, Baltus Oil Co. Retired, Tab Products Co.
WISCONSIN – MERRILL
Donald Boon Leo R. Fisher
COMMUNITY BANK
President, Boon Construction Chairman of the Board, retired, M&I Bank
BOARD OF DIRECTORS
of Mayville
Ronald D. Doine
Dennis M. Kemmel Edward G. Chartier
President, Doine Excavating, Inc.
Owner, Kemmel Insurance Agency Retired
Terry Frankland
George F. Olson John F. Koch
General Manager, V&H, Inc.
Sales and Engineering, W. G. Strohwig President, M&I Marshall & Ilsley Bank,
Kenneth F. Heiman
Tool & Die, Inc. Merrill
Owner, Nasonville Dairy, Inc.
Roy Rohlinger Lance R. Nienow
Ronald Maurer
Vice President, Rohlinger Construction, Inc. Chief Executive Officer, Weinbrenner Shoe Co.
President, Maurer Roofing
Kevin E. Volm Gary L. Schulze
Alan D. Nystrom
President, M&I Marshall & Ilsley Bank, Vice President, Victory Clinic Pharmacy, Inc.
Mayville
David B. Smith
Marshfield
Stanley A. Waas Consultant and Private Investor
Ronald Wiskerchen
President, Waas Boring & Cable, Inc.
Thomas J. Young
President, retired, Wiskerchen Cheese, Inc.
Executive Vice President, retired, Church
WISCONSIN –
DIRECTORS EMERITI Mutual Insurance Company
MENOMONEE FALLS
Vernon Baltus
WISCONSIN – OSHKOSH
COMMUNITY BANK
Floyd Hamus
COMMUNITY BANK
BOARD OF DIRECTORS
Robert O. Heck
BOARD OF DIRECTORS
Ronald R. Bast
Ken Heiting
President, Riteway Bus Service, Inc. Cristopher Bumby
James W. Hewitt
John W. Koenig Richard C. Becker
Admanco, Inc.
Robert Solberg President, M&I Marshall & Ilsley Bank,
Menomonee Falls Jere Chapin
James F. Sternweis
President, retired, M&I Central State Bank
Lawrence I. Thill Robert E. Drisner
Warner G. Von Holzen President and Chief Executive Officer, retired, Dennis Elmer
Community Health Care Services
Frederick J. Wenzel Food Broker
Donald H. Nimmer H. Andersen Lyke
Chief Executive Officer, Enercon Industries President, Lyke Corporation
Corporation
Steven R. Schmudlach
Michael Richardson President, M&I Marshall & Ilsley Bank,
President, Richardson Financial Group, Inc. Oshkosh
Douglas H. Stadelmann Dennis E. Schwab
President, Stadelmann Engineering, Inc. President, Coldwell Banker - Schwab
Realty Ltd.

twenty-six

OF

WISCONSIN – RACINE Kirby H. Roen WISCONSIN – SHEBOYGAN
Director - Sector Planning, Citizens
COMMUNITY BANK COMMUNITY BANK
Communications
BOARD OF DIRECTORS BOARD OF DIRECTORS
Irving Schiek III, M.D.
Matthew L. Andis Ronald E. Begalke
Retired
President, Andis Company Executive Vice President, retired, Sargento
Cheese Co.
Thomas L. Beck WISCONSIN – SHAWANO
Terence P. Fox
President, Unico, Inc. COMMUNITY BANK
Attorney at Law, Kummer, Lambert &
Timothy J. Majcen BOARD OF DIRECTORS Fox, LLP
James A. Kasten Reynolds K. Honold
Racine
Vice President - Fluid Milk, Employee & President, retired, Aldag/Honold
James O. Parrish Member Services, Foremost Farms Mechanical, Inc.
Vice President, Finance, retired, Twin Disc, Inc.
Jeffrey P. Mace Gary D. Maples
David B. Rayburn President, M&I Marshall & Ilsley Bank, President, M&I Marshall & Ilsley Bank,
President, Modine Manufacturing Company Shawano Sheboygan
Willard T. Walker Russell L. Obermeier Michael D. Muth
Chairman of the Board, Walker Forge, Inc. Owner, Maple Creek Wildlife Chairman of the Board and Chief Executive
Officer, K. W. Muth Company
President and Owner, Obermeier & Associates
DIRECTORS EMERITI
David Quasius
President and Owner, Cloverleaf Sand and
Kenneth Jensen Gravel, Inc. President, Quasius Construction, Inc.
David J. Munroe Larry J. Rose
Earl E. Richter CPA/PFS, Shareholder, Kerber, Rose &
Ernest C. Styberg, Jr. Associates, S.C.
Harold C. Weiss Financial Consultant, First Choice
Financial Services, LLC
WISCONSIN – RHINELANDER Russell P. Schmidt
COMMUNITY BANK Retired
BOARD OF DIRECTORS Jerry J. Senzig
President and Owner, retired, Senzig’s, Inc.
Ted S. Baginski, Jr.
President, Ted Baginski and Sons Inc. Gary J. Tauchen
Treasurer, Tauchen Harmony Valley, Inc.
Fred A. Berner
Editor, Antigo Daily Journal
Officer, Berner Bros. Publishing
William J. Cousineau
President, Cousineau Auto Parts, Inc.
Michael Moioffer
President, MIDE Inc.
Dexter Musson
President, Musson Brothers, Inc.
Dale J. Opperman
Rhinelander

twenty-seven

OF

WISCONSIN – WISCONSIN – WISCONSIN – WAUSAU
STEVENS POINT SUPERIOR/DULUTH COMMUNITY BANK
BOARD OF DIRECTORS
COMMUNITY BANK COMMUNITY BANK
BOARD OF DIRECTORS BOARD OF DIRECTORS Edward J. Creske
President, Wausau Tile
James E. Anderson James Banks
President, Ellis Stone Construction President and Chief Executive Officer, Dwight E. Davis
Company, Inc. Allouez Marine Supply, Inc. President and Chief Executive Officer,
Greenheck Fan Corp.
Marilynn J. Chesbrough John H. Hendricks
President, Hendricks, Knudson, Gee & Richard D. Dudley
Robert L. Cooper
Torvinen, S.C. Chairman, Dudley Investments LLC
President, Cooper Dental
Mary A. Johnson David Eisenreich
Jeffrey L. Martin
Senior Vice President – Chief Operations President, Marathon Electric Manufacturing
President and CEO, St. Michael’s Hospital
Officer, St. Mary’s/Duluth Clinic Health Corp.
Richard W. Okray System
Thomas J. Howatt
Secretary, Okray Family Farms, Inc. Mary Millard President, Wausau-Mosinee Paper
Thomas W. Rause President, Millard & Associates, Inc. Corporation
President and Chief Executive Officer, Fred Shusterich Hugh E. Jones
Rause Management, Inc.
President, Midwest Energy Resources President, M&I Marshall & Ilsley Bank,
Robert A. Schmidt Wausau
James E. Zastrow
President, M&I Marshall & Ilsley Bank, Ronald L. Klimisch
Stevens Point
Superior/Duluth President, Wausau Supply Company
Ronald T. Skrenes
Alfred P. Moore
DIRECTORS EMERITI
Attorney, Anderson, O’Brien, Bertz,
Skrenes & Golla
Richard Buth Wausau Benefits, Inc.
Herbert M. Theisen James Tracy San W. Orr, Jr.
President, Theisen’s Lumber and
Chairman of the Board, Wausau-Mosinee
Millwork, Inc.
WISCONSIN – WATERTOWN Paper Corporation
COMMUNITY BANK
DIRECTORS EMERITI Floyd G. Shelton
BOARD OF DIRECTORS President, Superior Floor
Leonard F. DeBaker
Richard Baker John L. Skoug
Bennett C. Katz
Baker-Rullman Mfg., Inc. Chairman and Chief Executive Officer,
David Ross Miller
Marathon Cheese Corp.
Robert A. Bender
Gerald M. O’Brien
Neil F. Slamka
Attorney
Joseph J. Okray
Vice President and General Manager,
Robert W. Worth John H. Ebert
Green Bay Packaging, Inc.
Paul A. Spaude
Watertown
President, Wausau Hospital Center
William J. Kwapil, Jr.
Stanley F. Staples, Jr.
Seven-Up Bottling Co.
Chairman of the Board, Alexander
DIRECTORS EMERITI Properties, Inc.

V. R. Bauman
E. J. Dobbratz
E. W. McFarland

twenty-eight

OF

WISCONSIN – WEST BEND Donald H. Wilson Edward T. Noland
President, Pharma Tech Industries, Inc.
Senior Vice President and Corporate
COMMUNITY BANK
Treasurer, Marshall & Ilsley Corporation
Almira B. Sant
BOARD OF DIRECTORS
Retired, Publisher
Thomas R. Bast SOUTHWEST BANK
Robert J. Witterschein
Chairman of the Board, retired, M&I First OF ST. LOUIS
National Bank
2301 South Kingshighway Commercial Banking, Southwest Bank
Mark A. Hauser of St. Louis
St. Louis, MO 63110
Partner, Kieckhafer Dietzler Hauser & Co.
(314) 776-5200 DIRECTORS EMERITI
Steven C. Johnson
www.mysouthwestbank.com
President, Johnson School Bus Service, Inc.
Edward C. Berra
Thomas W. Kieckhafer DIRECTORS William J. Freschi
Retired G. Fred Heimburger
Halvor B. Anderson
Richard L. Leitheiser Charles W. Hrebec, Jr.
Retired, Manufacturing Executive
President, M&I Marshall & Ilsley Bank, Charles A. Zone
John T. Baumstark
West Bend
President, Archway Sales, Inc.
Mark A. Nielsen
Andrew N. Baur
President, Cochran Sign Company, Inc.
Chairman, Southwest Bank of St. Louis
DIRECTOR EMERITUS Andrew S. Baur
Charles H. Johnson
Community Banking, Southwest Bank
of St. Louis
M&I BANK FSB
Linn H. Bealke
3993 Howard Hughes Parkway Vice Chairman, Southwest Bank of St. Louis
Suite 100
John G. Brunner
Las Vegas, NV 89109
Chief Executive Officer, Vi-Jon Laboratories, Inc.
(702) 737-3910
William H. T. Bush
Chairman, Bush-O’Donnell & Co., Inc.
DIRECTORS
Francis C. Cunetto
Randall J. Erickson
President, Cunetto House of Pasta, Inc.
Senior Vice President, General Counsel, and
Donald Danforth III
Corporate Secretary, Marshall & Ilsley
Corporation President, City Academy
Patricia R. Justiliano Robert E. Flynn III
Senior Vice President and Corporate President, Berry Grant Company
Controller, Marshall & Ilsley Corporation
Richard A. Grebel
Thomas J. O’Neill President, KCI Construction
President, M&I Bank FSB
Frederick O. Hanser
Senior Vice President, Marshall & Ilsley Chairman, St. Louis Cardinals, L.P.
Corporation
Henry O. Johnston
Executive Vice President, M&I Marshall &
Retired, Investment Executive
Ilsley Bank
Richard G. Millman
John L. Roberts
President, Millman Lumber Co.
Senior Vice President, Marshall & Ilsley
Corporation
President, M&I Support Services Corp.

twenty-nine

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