2. Mission Statement
Marshall & Ilsley Corporation is committed to an environment in which…
. . . our Customers receive high quality financial services consistent with sound, honest, and
progressive business practices.
. . . our Employees are inspired to excel and grow, both personally and professionally, in an
atmosphere of trust, integrity, and respect.
. . . our Shareholders receive a favorable, long-term return on their investment.
. . . our Community becomes a better place to live as a result of our leadership and
commitment.
Each business decision we make, whether for the benefit of our customers, employees,
shareholders, or the community, is guided by The Golden Rule.
3. 2005 Financial Highlights
($000’s except share data) 2005 2004 2003
NET INCOME $727,469 $627,086 $544,105
PER SHARE
Diluted – Net Income $3.10 $2.77 $2.38
Dividends Declared 0.93 0.81 0.70
Shareholders’ Equity 19.98 17.24 15.00
FINANCIAL CONDITION – AVERAGE
Assets $43,283,541 $37,162,594 $33,268,021
Loans and Leases 31,776,383 27,021,498 24,392,591
Deposits 26,101,473 23,987,935 21,985,878
Shareholders’ Equity 4,291,402 3,504,786 3,240,654
OTHER SIGNIFICANT DATA
Return on Average Shareholders’ Equity 16.95% 17.89% 16.79%
Return on Average Assets 1.68 1.69 1.64
Net Charge-Offs to Average Loans and Leases 0.12 0.11 0.21
Allowance for Loan and Lease Losses to
End of Period Loans and Leases 1.06 1.21 1.39
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, 2005.
M&I 1
4. To Our Shareholders
Marshall & Ilsley Corporation ended the year 2005
as one of the top performing companies in the
financial services industry. Positive annual results
were fueled by strong loan growth, improved
deposit growth, expansion of our wealth manage-
ment businesses, exceptional credit quality, and
revenue growth from Metavante Corporation.
At year-end, we had over $46 billion in assets.
During the past three years, we have grown,
not through the acquisition of other banks,
but through the consistent efforts of our bankers
in all our regions. Since 2002, year-to-date
average loans grew $11 billion, year-to-date average
noninterest bearing deposits grew $1 billion, and
trust assets under management grew by $6 billion.
We built 14 new banking offices in 2005, ending
the year with 195 offices in Wisconsin, 42 offices
in Arizona, 14 offices in Minnesota, two offices
in Florida, seven offices in St. Louis, one office
in Illinois, and one office in Las Vegas.
Although we remain committed to expanding
and enhancing all our business lines in our home
state of Wisconsin, our strategic decision to expand
beyond our traditional footprint reflects our contin-
ued commitment to identifying areas of high
growth and determining how to best capitalize
on the opportunities they present.
In November, we announced plans to acquire
Gold Banc Corporation, a bank holding company
with 31 Gold Bank offices in Kansas, Missouri,
Florida, and Oklahoma.
Dennis Kuester
Chairman of the Board and CEO
M&I 2 Marshall & Ilsley Corporation
5. Mark Furlong
President
Marshall & Ilsley Corporation
Frank Martire
President and CEO
Metavante Corporation
Gold Bank’s location in a fast-growing institutions nationwide. The success including health savings accounts.
Midwestern market and its significant of this group clearly demonstrates Metavante’s strategic acquisitions,
presence in Florida made it a perfect the impact M&I’s Critical LinkagesTM dedication to serving its customers,
fit for our strategic plans in these approach can have on generating and commitment to offering excep-
regions. Gold Bank has developed new business within our growing tional products and services have
a strong commercial and consumer customer base. consistently contributed to the
base, which will be enhanced by company’s growth. In October,
M&I’s increased lending capacity and M&I’s Wealth Management division we celebrated an important mile-
a full line of personal banking and also had a strong year. We success- stone when Metavante Corporation
wealth management services. fully integrated our wealth manage- surpassed $1 billion in revenue.
ment services into the market served We applaud the dedication and
Our planned acquisition of St. Louis- by Southwest Bank of St. Louis and efforts of Metavante’s employees
based Trustcorp Financial, Inc., created Cedar Street AdvisorsSM to nationwide who made this achieve-
announced in December, will com- deliver customized financial services ment possible.
plement the Gold Banc announce- for ultra-high-net-worth individuals.
We also announced the acquisition
ment and will increase our market- Marshall & Ilsley Corporation’s
of FirstTrust Indiana, enabling us to
share in St. Louis. The Trustcorp shareholders also benefited
further expand our wealth manage-
acquisition will double the number from our growth during the
ment services.
of locations in the region and pro- year, celebrating 33 consecutive
vide us with opportunities to build years of increased dividends.
Our Commercial Banking and
on the success of our Southwest Commercial Real Estate divisions
Bank of St. Louis franchise. benefited from consistent loan The new year brings with it many
growth and an expanded regional challenges, but we are committed
We look forward to welcoming the presence throughout the M&I system. to turning these challenges into
many new customers and employees opportunities for our customers,
who will join us from these well- Metavante Corporation strengthened our employees, our shareholders,
regarded institutions in the year ahead. its Financial Solutions and Payment and the communities we serve.
Solutions groups through six acquisi-
Expansion beyond traditional bricks- tions, further enhancing our ability to
and-mortar facilities was equally provide client solutions for regulatory
significant. Our Financial Institutions compliance, document storage, and
Group played an important role in loan origination, as well as payment Dennis J. Kuester Mark F. Furlong
these efforts, facilitating the cross- services for government payment Chairman of the President
selling of M&I’s services to financial processing and consumer health care, Board and CEO
M&I 3
6. Community Banking
M&I’s community banking customers benefited
from our expanded branch network, online banking
enhancements, and new products and services
throughout 2005. We built 14 new banking offices
in 2005 – nine in Arizona, two in Minnesota, two
in Wisconsin, and one in Missouri – and already,
these new offices are performing better than antici-
pated. Our banking efforts outside Wisconsin now
represent 18 percent of our net income, compared
to only three percent in 2001. We plan to continue
taking advantage of expansion opportunities in
high-growth markets throughout the country.
Many of our new locations also feature our
refreshed M&I brand. Throughout 2005, we
began to introduce M&I’s updated look – on
our signage, in our advertisements, and on our
website. Although the look of our brand may be
updated, our commitment to our customers has
not changed. The M&I brand still represents the
qualities our customers have come to expect of
M&I: outstanding service and quality products.
The products and services we offer continue to
evolve as we anticipate the future needs of our
customers. In recent years, a shift in consumer
payment preferences, from checks and cash, to
cards and electronic payments, has motivated
our customers to take advantage of many of the
new and innovative products M&I has to offer.
The Mill Avenue branch of M&I Bank in Tempe,
Arizona, on the ASU campus, features a contem-
porary look and showcases M&I’s refreshed brand
– the M&I symbol in a blue box on a field of white.
M&I 4
7. M&I’s Business Banking group
received five Business Banking
Service Excellence Awards from
Greenwich Associates for excellence
in customer service, business bank-
ing officer performance, and cash
management services.
Our proactive approach to offering cards, cruises, and hotel stays. customers identify these fraudulent
online banking services, gift cards, Purchase volume for M&I Rewards e-mails before they become victims.
and rewards credit and check cards cards increased close to 70 percent
helps our customers streamline in 2005. M&I’s strength as a mortgage lender
their personal cash management continues to attract homebuyers,
processes, minimizing the time they M&I’s gift card program has been with enhanced mortgage and home
spend managing their finances. equally successful, offering a conven- equity products designed to serve
ient gift-giving option for birthdays, their unique needs. M&I’s home equity
M&I’s Online Banking products lead weddings, holidays, or company business continues to do well, with
the way. More and more customers incentives. The ability to include a 17 percent five-year compound
are taking advantage of M&I Online a personal message makes this growth rate. Home equity loans
Banking to manage their accounts; gift a unique way to celebrate a represented more than three-fourths
in 2005, usage was up nearly 60 special occasion. of all consumer loans in 2005.
percent. Our Online Bill Payment
service has been very well received In addition to offering a full line Businesses of all sizes also count on
M&I to serve their complex financial
as well, with usage doubling in the of banking products and services,
needs, and in 2005, the efforts of
past year, and our Online Statements we also recognize the importance of
our Business Banking team were
service continues to gain momen- keeping our customers’ personal and
recognized by receiving Greenwich
tum as more customers discover financial information safe and secure,
Associates’ Business Banking Service
the convenience of accessing their and the role we can have, as a finan- Excellence Awards. M&I, the only
statements electronically. cial institution, in educating con- bank in the Midwest to win five
sumers about this important issue. To awards, received national recognition
The popularity of the M&I RewardsSM help them learn more, we developed for excellence in overall customer
program has also grown significantly, an online resource center devoted to service, business banking officer
as more customers recognize the educating consumers about identity performance, and branch service.
benefits of earning valuable rewards theft and e-mail fraud, featuring an At the regional level, M&I was cited
by using their M&I Rewards Credit innovative, multi-media presentation for excellence in overall customer
Card, M&I Rewards Check Card, or that offers practical advice for safe- satisfaction and cash management.
the M&I Rewards Equity Card. Since guarding personal information. A
the program’s introduction, cus- comprehensive, customized online M&I’s national consumer businesses,
tomers have had the opportunity checklist provides consumers with a including brokered home equity lend-
to earn and redeem points for many list of the steps they can take to help ing and auto finance, also performed
valuable rewards, including airline protect themselves, and information well in 2005, posting a five-year annual
tickets, store and restaurant gift about e-mail fraud, or “phishing,” helps growth rate of 36 percent.
M&I 5
8. Commercial Banking
M&I’s Commercial Banking division had a strong year,
with loan growth of 20 percent. Demand deposit
growth in our commercial and industrial businesses
was 5.4 percent and 16.8 percent in commercial
real estate. M&I’s Correspondent Banking division
experienced 40 percent loan growth. The introduc-
tion of new products and services, expansion in our
St. Louis and Minnesota markets, and continued
success in marketing our services to other financial
institutions contributed to this growth.
Serving the commercial banking needs of our
customers in the communities we serve has always
been a priority. We work hard to meet the needs of
customers in many highly specialized lines of
business, including retail trade, construction,
and agriculture. As a leading agribusiness bank
in the state of Wisconsin and the number eight
agricultural bank in the nation, M&I is a leader in
offering effective and practical financial strategies
for farms and agribusinesses of all sizes. Dedicated
bankers who understand farming, agribusiness, and
financial services are experts in developing financial
programs for agricultural professionals, including
suppliers, producers, marketers, and processors.
M&I is represented by well-established agribusiness
bankers throughout Wisconsin, Arizona, and
Minnesota, with plans to expand efforts in the
St. Louis market.
Businesses, such as Trig’s in Wisconsin, can stream-
line the check deposit process by using M&I
DepositEdgeSM, which enables them to electronically
deposit checks onsite.
M&I 6
9. Cedar Valley Cheese in Belgium,
Wisconsin, utilizes M&I’s commercial
banking products and agricultural
expertise to most effectively manage
their business finances.
Just as retail consumers continue Group, this service will be marketed 2005, ending the year with revenue
to migrate towards electronic pay- to customers nationwide. growth of more than $18 million
ments, our commercial and business compared to 2004. M&I’s relationship-
customers have a similar goal: auto- Leveraging the resources of M&I’s lending approach and Critical
mate transactions and deposits Correspondent Banking, Trust, Linkages philosophy play a critical
in order to streamline business Treasury Management, Support role in the group’s success. Whether
processes and create additional Services, and Investment Services the funding of a large office condo-
efficiencies. M&I DepositEdgeSM, divisions, in addition to those of minium project presents an opportu-
offered through M&I Treasury Metavante Corporation, M&I’s nity for M&I’s Business Banking group
Management, provides them with Financial Institutions Group serves to fund loans for individual office
the means to do so. Now retailers as a valuable business partner to suites, or the financing of a housing
and other commercial businesses thousands of financial institutions developer results in new residential
have the ability to scan checks onsite throughout the country, providing mortgages for M&I’s Community
and deposit them electronically, them with the tools and resources Banking division, the efforts of
eliminating the need to deposit they need to effectively compete M&I’s Commercial Real Estate group
paper checks conventionally. The in the marketplace. contribute to the success of divisions
images are processed electronically throughout M&I. Commercial real
or reprinted and sent to the paying Whether our customer is a small estate loans represent close to
bank. M&I DepositEdge enables cus- start-up community bank, a well- one-third of M&I’s loan portfolio.
tomers to improve deposit accuracy established regional bank, or a multi-
and increase funds availability. billion dollar financial institution, Regional growth in commercial real
M&I’s Financial Institutions Group estate was also substantial in 2005.
Similarly, M&I’s Correspondent provides access to the products and In Arizona, a high-growth market
Banking division, a provider of lend- services that can help them succeed. with an abundance of housing and
ing, investment, international, and Regardless of their size, financial housing-related financing opportuni-
treasury management services to institutions can rely on the expertise, ties, M&I experienced significant
other financial institutions, is helping knowledge, and resources of M&I 34 percent loan growth. In the
its client banks increase efficiencies to help them compete with much southeastern Wisconsin market,
through the development of an elec- larger banks. Revenue from financial the Commercial Real Estate group
tronic cash letter product. This prod- institutions was more than $850 posted an impressive 22 percent
uct will allow M&I’s correspondent million in 2005. increase in loans. Economic
banks to clear checks directly through strength, lower interest rates,
M&I, enabling them to streamline M&I’s Commercial Real Estate group and a renewed interest in real
their check clearing process. Working continued to maintain significant estate investments have helped to
with M&I’s Financial Institutions growth and strong credit quality in fuel growth in this key business line.
M&I 7
10. Wealth Management
M&I Wealth Management posted 12 percent
revenue growth in 2005. Key contributors were
a disciplined sales process, a commitment to
investment performance, and the implementation
of a regional structure that aligns with M&I’s
Commercial Banking and Community Banking
divisions. Investments throughout the year
enabled us to enter new markets, offer new,
specialized services to our customers, and
continue to grow our wealth management
business corporate-wide.
The introduction of Cedar Street AdvisorsSM,
a unique, boutique firm dedicated to providing
comprehensive banking, asset management,
trust, and advanced financial planning
services to ultra-high-net-worth individuals,
further expanded M&I’s integrated wealth
management services. Each client, working
with a dedicated relationship manager,
benefits from all-inclusive personal financial
management, including asset allocation,
estate and tax planning, expense management,
and insurance. Cross-selling through M&I’s
Commercial Banking and Private Banking
divisions provides additional opportunities
for growth in this niche market.
Karen and Robert Hobbs, residents of Paradise
Valley, Arizona, utilize M&I’s wealth management
and commercial banking services to assist them in
managing their personal and business finances.
M&I 8
11. Legacy Bank, led by Deloris Sims,
President and Chief Executive
Officer, partners with M&I to utilize
services offered through M&I’s
Financial Institutions Group,
enabling the bank to offer addition-
al products and services to its
personal and business banking
customers.
To assist in these efforts and strength- FirstTrust’s customers to M&I’s full majority – seven funds – achieving
en our personal banking capabilities, line of trust, asset management, top quartile rankings within their
we added private bankers in six and brokerage products. Lipper peer groups. In addition,
regions in 2005, and opened a traditional, structured, and alterna-
new Wealth Management office Similarly, the announced acquisi- tive investment products are being
in Wisconsin. M&I’s private bankers tions of Gold Banc Corporation well received by our clients, as
provide specialized banking services and Trustcorp Financial, Inc., evidenced by the growth in assets.
to customers throughout the markets provide Wealth Management with
we serve, further enhancing this excellent expansion opportunities For the fourth year in a row,
important component of our wealth in the Missouri, Kansas, and Florida clients once again rated M&I
management strategy. markets. Following the completion as a top-ranked retirement plan
of the Gold Banc merger, our provider through PLANSPONSOR
M&I’s network of financial advisors, Florida presence will increase magazine’s Defined Contribution
through M&I Brokerage Services, significantly, with M&I offices Services Survey. M&I’s Commercial
also works closely with Community located throughout the corridor Trust division, a provider of 401(k)
Banking to secure referrals and from Tampa to Marco Island. and other defined contribution
develop new relationships. plans, received 31 Best in Class
By the end of the year, Marshall awards, and was awarded honors
The acquisition of FirstTrust Indiana, & Ilsley Trust Company N.A. in all four market segments.
announced in October, provides had $83 billion in assets under
M&I with the opportunity to enter administration and M&I Investment
the Indianapolis, Indiana, market. Management Corp. had just
While M&I has historically expanded under $19 billion in assets under
through the acquisition of banks, management, both representing
this merger specifically focuses on all-time highs.
our wealth management offerings.
FirstTrust Indiana’s asset manage- M&I’s family of publicly available
ment, trust administration, and mutual funds, known as the Marshall
estate planning services for high- Funds, continue to provide success-
net-worth individuals and institu- ful investment strategies for share-
tional customers complement M&I’s holders. Several equity and fixed-
expansion plans. In addition, M&I income funds achieved outstanding
has the opportunity to introduce performance during 2005, with a
M&I 9
12. Metavante Corporation
A Billion Dollar Achievement
In 2005, Metavante Corporation celebrated a
significant milestone by reaching over $1 billion
in annual revenue. The achievement of this major
business goal capped a remarkable year of business
expansion and revenue growth, representing the
company’s continuing efforts to provide its clients
with superior customer service and industry-leading
product and service selection in both banking and
payments. These efforts resulted in steady organic
growth, increased cross sales, and additional rev-
enue from companies acquired during the year.
For Metavante, success in 2005 was confirmation
of its 41 years of innovation in the delivery of core
processing and software to financial institutions.
For example, Metavante helped increase the
operational and business efficiency of its clients,
while at the same time continuing to successfully
cross-link the competencies of its subsidiaries
and cross-sell products and services to existing,
as well as new, client populations.
The company’s 2005 total revenue of $1.247
billion grew by 28 percent over the prior year.
The company’s 2005 net income of $124.4
million grew by 55 percent during the same
period, resulting in a 22 percent improvement
in its net income margin, from 8.2 to 10 percent.
Metavante Corporation's newly renovated
atrium at its corporate headquarters in Wisconsin
offers a welcoming environment for clients and
guests.
M&I 10
13. Success also included six acquisitions Strength in Numbers compliance and risk management
announced in 2005, broadening Metavante strengthened its banking solutions to all segments of
Metavante’s banking and payments technology by continuing its invest- the financial services industry.
groups’ business strategies and ment in internal development, Combining Prime with existing
expanding products and services. including introducing a new web- risk and compliance management
They also extended Metavante’s based customer interface and consulting services helps Metavante
presence into the new area of expanding its customer relationship provide any bank with a solution that
consumer-directed payments includes the people, processes, and
management software with new
to government agencies. technologies to ensure anti-money
marketing automation and customer
information capabilities. The company laundering compliance.
Metavante enhanced its leadership
won new core processing business
position within the industry by In August, Virginia-based TREEV,
with such clients as Morgan Stanley,
successfully integrating its seven LLC was acquired, adding to
and renewed 119 client contracts
acquisitions announced in 2004 into Metavante’s image solutions.
profitable business affiliates within for its outsourced and licensed core
processing services. In addition, TREEV delivers browser-based
its corporate family. This included
Metavante acquired several compa- document and report management
the consolidation of the NYCE ATM-
nies whose technology supported software in both lending and
driving and debit card-issuing business
its core banking and electronic check deposit environments, and comple-
into the larger Metavante platform.
processing abilities, enhanced its anti- ments Metavante’s check imaging
The NYCE network also benefited
from new financial institution partici- money laundering solution, and also strategy by providing solutions for
pants from across the United States, expanded into consumer finance and document storage and retrieval,
including California, Hawaii, the residential mortgage lending services. including electronic report storage.
Midwest, Southeast, and Middle TREEV’s customer base already
Atlantic States. Transaction volumes For example, in February, Metavante includes a number of Metavante,
on the NYCE network also expanded completed its acquisition of New Kirchman, and AFS clients.
during the year. Other products Jersey-based Prime Associates, Inc.,
from such companies as Advanced a leading provider of software, data, Also in August, a new residential
Financial Solutions (AFS), VECTORsgi, and services that address the regula- mortgage origination and consumer
Kirchman, and NuEdge helped form tory and compliance mandate of vendor finance solution set joined
the foundation for new areas of financial institutions, such as anti- Metavante’s Financial Solutions
revenue growth, such as check image money laundering regulations. Group through the acquisition of
and licensed core processing soft- GHR Systems, Inc., in Pennsylvania.
ware, which continued through Metavante’s integration of Prime GHR offers point-of-sale products
additional acquisitions. allows it to deliver state-of-the-art and comprehensive origination,
M&I 11
14. underwriting, processing, and closing payment and presentment, and services by announcing the acquisi-
technology with a market focus on prepaid debit cards, into new tion of AdminiSource Corporation
the top 100 bank market. GHR’s cus- market segments. It also enables in Texas. A leading provider of
tomers include four of the top ten the company to take advantage of healthcare payment distribution
U.S. mortgage lenders. GHR is also its account processing capabilities services, AdminiSource complements
expanding into the consumer lend- and add products to support flexible Metavante’s existing services to the
ing market, providing a comprehen- spending accounts (FSA) and health third-party administrator market and
sive origination solution for home savings accounts (HSA). offerings to healthcare insurance
equity and consumer loan products. providers. It will also further develop
In July, Metavante built on the foun- Metavante’s focus on helping clients
In October, Metavante purchased dation of its internally developed transition from paper-based to elec-
Brasfield Technology in Alabama, debit-based payment solutions by tronic payments and information
broadening the company’s licensed acquiring MBI Benefits, Inc. (MBI), flow within the healthcare industry.
software strategy by allowing a leading provider of electronic
Metavante to offer a hosted solution Metavante also strengthened
payment services and debit cards
directly to community banks choos- its consumer-directed payments
for employee benefit and consumer-
ing to use the Bankway licensed soft- by acquiring Tennessee-based
directed healthcare accounts.
ware for core banking processing. LINK2GOV, extending its bill
payment capability into government
MBI is one of the largest and most
Expanding the Payment Possibilities services, a new vertical market with
experienced providers of electronic unique processing requirements for
Metavante also enhanced its con- payment systems for employee ben- consumer-directed payments. As
sumer-directed healthcare payment efit cards electronically accessing government entities work toward
services and expanded into the new FSAs. MBI’s FSA and HSA solutions providing the convenient payment
consumer area of online government are currently used by approximately options consumers seek, Metavante
payments, continuing the company’s 200 third-party administrators and looks to become a successful partici-
efforts to deliver to its clients the health plans that service over 17,000 pant in this growing segment.
industry’s most complete payment employers and approximately 1.4
processing network and capabilities. million employee accounts. These In 2005, Metavante also saw significant
Expanding into the fast-growing seg- solutions enable Metavante clients success in cross-selling products and
ment of healthcare payments allows to offer FSA and HSA cards to their services, in part by offering its acquired
Metavante to extend its existing corporate customers. Metavante companies the opportunity to
consumer-directed electronic pay- continued building its consumer- market their products and services
ment solutions, such as online bill directed healthcare payment to Metavante core processing clients.
M&I 12
15. This strategy expands the reach Another significant agreement Carolina, a leading provider of
of the acquired companies into occurred between Metavante’s check image exchange and archive
additional financial institutions, and Endpoint Exchange Network and services to the nation’s top financial
provides Metavante with cross-sell the Electronic Check Clearing House institutions.
opportunities into new client pools. Organization (ECCHO), a not-for-profit
national clearinghouse with the This relationship will enable the
Partnering to Advance primary objective of supporting the electronic exchange of check data
Electronic Payments use of technology to enhance the and images between each network’s
Check clearing and processing remain check payment system. ECCHO is member financial institutions, with
at the core of banking, and the owned by its member banks, and settlement through The National
October 2004 introduction of Check 21 in December 2004, M&I Bank joined Clearing House. While Bank of
legislation accelerated the move ECCHO. In early 2005, Metavante America Corporation was the first
from paper checks to electronic pay- endorsed, and the Endpoint to implement this new service, all
ments. But to remain competitive in Exchange Network agreed to Endpoint and Viewpointe members
the post-Check 21 image-based pro- adopt, ECCHO’s check image will be able to take advantage of
cessing environment, it is important exchange rules. These rules should this increased connectivity.
for financial institutions to capture and help facilitate the transition to a
truncate check transactions as early more efficient check payment system. 2005: A Landmark Year
in the clearing process as possible.
2005 was a landmark year for
The Endpoint Exchange Network Metavante, not only in achieving
Metavante continued to smooth the
enables U.S. financial institutions to $1 billion in annual revenue, but
way for clients to quickly adopt elec-
clear their check-based transactions in its efforts to improve its product
tronic payments and increase their
business efficiency, especially in the by permitting the exchange of check and services offerings and grow its
areas of check image capture and images between member institutions. clients’ businesses. By providing the
exchange, through several partner- The ECCHO rules are the accepted most complete family of bank tech-
ships and associations. For example, industry standard for check image nology solutions, recognizing the
using Metavante image solutions exchange, making this agreement a dedication of its employees, and
technology, M&I Bank introduced key step in driving the exchange of the value of community support,
its DepositEdge merchant capture check images across the country. Also the Metavante brand will continue
services, a solution that allows for helping expand check imaging's to gain strong recognition in 2006,
check image capture and electronic reach was Metavante’s agreement and continue to bring greater value
deposit of remittances by its to connect the Endpoint Exchange to its clients.
corporate customers. Network with Viewpointe in North
M&I 13
16. Our Commitment
to the Community
Our role as a corporate citizen extends far beyond
our efforts to ensure our customers have access to
the products and services that help them manage
their finances. As a corporation, we also have a
responsibility to support programs that ensure the
men, women, and children living in the communi-
ties we serve have access to the services they need
to enhance their quality of life.
Therefore, each year, Marshall & Ilsley Corporation
commits resources to support causes and organi-
zations that benefit the communities we serve.
Through our corporate donations, the volunteer
efforts of our employees nationwide, and the work
of M&I Community Development Corporation,
we strive to make our communities better places
in which to live and work.
Education continues to play an important role
in our efforts. In 2005, M&I introduced a new
initiative designed to equip customers and
members of the community with the knowledge
and tools they need to make sound decisions
about their financial well-being. M&I’s Community
Education Initiative focuses on educating adults
living in low- to moderate-income neighborhoods,
as well as students of all ages. As part of this
M&I Community Development Corporation’s
financing of the Salisbury Park housing develop-
ment in St. Louis, Missouri, helped provide afford-
able housing for area residents.
M&I 14
17. Thousands of employees participated
in M&I Community Day, performing
community service projects corpo-
rate-wide, such as hosting a tailgate
and baseball game for youth served
by local organizations.
initiative, M&I bankers who serve to their hearts and helps build strong generously, helping support the
as community advocates, often in and healthy communities. In addition, organizations that need it most.
partnership with local community each year, employees throughout
organizations, conduct seminars the Corporation use their energy We’re confident the efforts of
throughout M&I’s markets, covering and enthusiasm for helping our employees, as part of the
topics such as budgeting and others by joining forces for M&I M&I family and M&I Community
saving, checking accounts, credit, Community Day. For the fifth Day, have had a significant impact
and identity theft. year in a row, M&I employees on the lives of thousands of men,
participated in this annual mobiliza- women, and children.
Our corporate efforts also include tion to benefit the men, women,
developing, funding, and managing and children in our communities.
projects and investments that
demonstrate M&I’s ongoing commit- M&I Community Day projects took
ment to the public welfare of M&I place in nearly 200 communities,
communities. The M&I Community with employees participating in
Development Corporation (MICDC) a variety of activities, including
helps us meet these critical needs. building homes, feeding families,
In 2005, the MICDC funded a variety collecting school supplies for local
of projects that benefited individuals children, and raising money for
in the markets we serve. From the important causes. From Braintree,
financing of affordable housing in Massachusetts, to Phoenix, Arizona,
Racine, Wisconsin, and St. Louis, M&I employees across the country
Missouri, to the purchase of new- rolled up their sleeves to make
market tax credits for commercial a difference.
real estate projects promoting tech-
nology development in Phoenix, Our employees also play a significant
Arizona, MICDC provided our com- role in supporting M&I-sponsored
munities with a significant resource. efforts to support local organizations
through monetary donations.
The individual efforts of our employ- Whether funding national organiza-
ees are at the core of our efforts. tions, such as United Way, or local
The volunteer work they perform organizations that promote health
benefits the organizations closest or the arts, our employees give
M&I 15
18. Marshall & Ilsley Corporation
Board of Directors
Dennis J. Kuester Richard A. Abdoo Andrew N. Baur Jon F. Chait John W. Daniels, Jr. Bruce E. Jacobs
Chairman of the Board Chairman of the Board Chairman of the Board, Chairman of the Board Partner, President and
and Chief Executive Officer, and Chief Executive Officer, Southwest Bank of St. Louis and Chief Executive Officer, Quarles & Brady LLP, Chief Executive Officer,
Marshall & Ilsley Corporation retired, Hudson Highland Group, Inc., a law firm Grede Foundries, Inc.,
Wisconsin Energy Corporation, a provider of workforce a manufacturer of gray
Chairman of the Board
a holding company with staffing and search services and ductile iron, steel,
and Chief Executive Officer,
subsidiaries in utility and and alloyed castings
M&I Marshall & Ilsley Bank
non-utility businesses
Chairman of the Board,
Chairman of the Board, retired,
Metavante Corporation
We Energies
Ted D. Kellner, CFA Katharine C. Lyall John A. Mellowes Edward L. Meyer, Jr. San W. Orr, Jr. Robert J. O’Toole
Chairman of the Board President, retired, Chairman of the Board Vice Chairman, Chairman of the Board, Chairman of the Board
and Chief Executive Officer, University of Wisconsin and Chief Executive Officer, Sanimax Corporation, Wausau Paper Corp. and Chief Executive Officer,
Fiduciary Management, Inc., System Charter Manufacturing a processor and manufacturer retired,
an investment Company, Inc., of various rendered products A.O. Smith Corporation,
management firm a producer of bar, rod, wire, a manufacturer of
and wire parts for the auto electric motors and
industry and other industries water systems technologies
Peter M. Platten III John S. Shiely James A. Urdan Debra S. Waller George E. Wardeberg James B. Wigdale
Vice Chairman of the Board, Chairman of the Board, Partner, retired, Chairman of the Board Vice Chairman of the Board, Chairman of the Board,
retired, President, and Quarles & Brady LLP, and Chief Executive Officer, retired, retired,
Marshall & Ilsley Corporation Chief Executive Officer, a law firm Jockey International, Inc., Wisconsin Energy Corporation, Marshall & Ilsley Corporation
Briggs & Stratton Corporation, a manufacturer of a holding company with
a manufacturer of gasoline undergarments subsidiaries in utility and
engines for outdoor non-utility businesses
power equipment
Directors Emeriti
Oscar C. Boldt Wendell F. Bueche Glenn A. Francke Burleigh E. Jacobs
James F. Kress Don R. O’Hare Stuart W. Tisdale James O. Wright Gus A. Zuehlke
M&I 16 Marshall & Ilsley Corporation 770 North Water Street, Milwaukee, WI 53202 (414) 765-7700 www.micorp.com
19. Marshall & Ilsley Corporation
Officers
Dennis J. Kuester Randall J. Erickson Frank R. Martire
Chairman of the Board Senior Vice President, Senior Vice President,
and Chief Executive Officer, General Counsel, Marshall & Ilsley Corporation
Marshall & Ilsley Corporation and Corporate Secretary, President
Chairman of the Board Marshall & Ilsley Corporation and Chief Executive Officer,
and Chief Executive Officer, General Counsel Metavante Corporation
M&I Marshall & Ilsley Bank and Corporate Secretary,
Chairman of the Board, M&I Marshall & Ilsley Bank Thomas J. O’Neill
Metavante Corporation Senior Vice President,
Mark R. Hogan Marshall & Ilsley Corporation
Mark F. Furlong Senior Vice President Executive Vice President,
President, and Chief Credit Officer, M&I Marshall & Ilsley Bank
Marshall & Ilsley Corporation Marshall & Ilsley Corporation
President,
President, Executive Vice President M&I Bank FSB
M&I Marshall & Ilsley Bank and Chief Credit Officer,
M&I Marshall & Ilsley Bank Paul J. Renard
John M. Presley Senior Vice President
Senior Vice President Patricia R. Justiliano and Director of Human Resources,
and Chief Financial Officer, Senior Vice President Marshall & Ilsley Corporation
Marshall & Ilsley Corporation and Corporate Controller,
Marshall & Ilsley Corporation John L. Roberts
Chief Financial Officer,
M&I Marshall & Ilsley Bank Senior Vice President,
Brent J. Kelly Marshall & Ilsley Corporation
Senior Vice President
Ryan R. Deneen and Director of President,
Senior Vice President Corporate Marketing, M&I Support Services Corp.
and Director of Corporate Tax, Marshall & Ilsley Corporation
Marshall & Ilsley Corporation Thomas A. Root
Beth D. Knickerbocker Senior Vice President
Thomas R. Ellis Senior Vice President and Audit Director,
Senior Vice President, and Chief Risk Officer, Marshall & Ilsley Corporation
Marshall & Ilsley Corporation Marshall & Ilsley Corporation
Executive Vice President, Ronald E. Smith
M&I Marshall & Ilsley Bank Kenneth C. Krei Senior Vice President,
Senior Vice President, Marshall & Ilsley Corporation
Marshall & Ilsley Corporation Executive Vice President,
Chairman of the Board, M&I Marshall & Ilsley Bank
President, and
Chief Executive Officer,
Marshall & Ilsley Trust Company N.A.
Chairman of the Board
and Chief Executive Officer,
M&I Investment Management Corp.
M&I 17
20. Affiliate Boards
M&I Arizona Minnesota Appleton, WI
Marshall & Ilsley Bank Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board
770 North Water Street Dennis R. Jones Kim Culp David J. Gitter
Milwaukee, WI 53202
(414) 765-7700
Chairman and President, Chairman, President,
www.mibank.com M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank,
Arizona Minnesota Appleton
Directors
Dennis J. Kuester John G. Barry Bradley D. Chapin Thomas J. Boldt
Chairman of the Board Executive Vice President President, Chief Executive Officer,
and Chief Executive Officer, and Commercial Bank Manager, M&I Marshall & Ilsley Bank, The Boldt Company
M&I Marshall & Ilsley Bank M&I Marshall & Ilsley Bank, Minnesota
Chairman of the Board Arizona John A. Bykowski
and Chief Executive Officer, David L. Andreas President and
Marshall & Ilsley Corporation Gary S. Clancy Former President and Chief Executive Officer,
Managing Member, Chief Executive Officer, Secura Insurance Companies
Chairman of the Board,
Recycled Business Systems, L.L.C. National City Bancorporation
Metavante Corporation
Joyce A. Bytof
Michael C. Francis Marty Chorzempa President,
Mark F. Furlong
Owner/Manager, Chairman, retired, Coldwell Banker
President,
Francis Insurance Agency Richfield Bank & Trust The Real Estate Group, Inc.
M&I Marshall & Ilsley Bank
President, Charles F. Sands Mike Fiterman Stephen M. Evans
Marshall & Ilsley Corporation President, President and President,
Nutribiotech LLC; JED C, LLC Chief Executive Officer, Evans Title Companies, Inc.
Richard A. Abdoo Liberty Diversified Products
Chairman of the Board and Richard H. Whitney Mark J. Fenlon
Chief Executive Officer, retired, Partner, Esperanza Northeast Regional Manager,
Wisconsin Energy Corporation Gust Rosenfeld P.L.C. Guerrero-Anderson M&I Wealth Management
Chairman of the Board, retired, President and
We Energies D. Otis Wolkins Chief Executive Officer, James R. Hayes
Vice President, retired, Milestone Growth Fund, Inc. President and
Bruce E. Jacobs GTE Service Corporation Chief Executive Officer, retired,
President and Michael Horovitz Hayes Manufacturing Group, Inc.
Chief Executive Officer, Stephen A. Wood Owner and President,
Grede Foundries, Inc. President, Minneapolis Glass Company Paul J. Heid
Insurers Administrative President,
James A. Urdan Corporation Katie Kelley Heid Music Company, Inc.
Partner, retired, Executive Vice President,
Quarles & Brady, LLP Leyton S. Woolf, Jr. M&I Marshall & Ilsley Bank, Mary M. Hosmer
Owner/Farmer, Minnesota Executive Vice President –
George E. Wardeberg Woolf Roses, L.L.C. Commercial Lines Department,
Vice Chairman of the Board, David Malmberg Hilb Rogal and
retired, Wisconsin Energy Chairman of the Board, Hobbs Insurance Services, Inc.
Corporation Sagebrush Corporation
John E. Pfefferle
James B. Wigdale Sheldon Wert President,
Chairman of the Board, retired, Former President and Grubb & Ellis/Pfefferle
Marshall & Ilsley Corporation Chief Executive Officer,
Century Bancshares, Inc. Lawrence W. Wirth
Directors Emeriti President, retired,
Wendell F. Bueche Presto Products, Inc.
John E. Forester
Carl L. Gosewehr Director Emeritus
Burleigh E. Jacobs Gus A. Zuehlke
David F. Nelson
Douglas Seaman
Stuart W. Tisdale
James O. Wright
M&I 18
21. Affiliate Boards
Ashland, WI Brookfield, WI Burlington, WI Eagle River, WI
Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board
Peter P. Viater J. Nathan Cunniff James R. Bauman James E. Levandoski
President, President, Chairman, President,
M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank,
Ashland Brookfield Burlington Eagle River
Paul R. Bretting Robert H. Eldridge Glenda Dupons Al Block
Vice President, Executive Vice President and President, Owner, retired,
C. G. Bretting Manufacturing Secretary-Treasurer, retired, Bear Realty Inc. A. L. Block Realty
Company, Inc. Briggs & Stratton Corporation
Frederick J. Koenen Al Bybee
Donald N. Marcouiller John R. Evans Chairman of the Board, Food Broker, retired
Regional Administrator, President, retired, Reineman’s True Value Inc.
Wisconsin Indianhead Evans Brothers Company, Inc. C. Randall Cox
Technical College, John L. Malchine Consultant, retired
Ashland Campus Andrew J. Fleckenstein Chief Executive Officer,
Trustee, Badger State Ethanol T. J. Doyle, D.D.S.
Leslie J. Whiteaker Fleck Foundation Dentist, retired
Vice President and Lawrence Smith
Chief Financial Officer, W. P. Halquist Larry’s Barber Shop Thomas Gaffney
Memorial Medical Center Chairman of the Board, Owner, retired,
Halquist Stone Co., Inc. James F. Weis Gaffney Funeral Home
President,
Irv Hansen May’s Insurance Agency Richard D. Hansen
Chairman, retired, President, retired,
M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank,
Brookfield Eagle River
James E. Keyes
Chairman of the Board,
KSM Industries, Inc.
James M. Leef
President,
Industrial Towel & Uniform, Inc.
Gordon J. Liebl
President,
A. L. Schutzman Co., Inc.
Aldo Madrigrano
President,
W.O.W. Distributing Co., Inc.
Randall J. Wright
President and
Chief Executive Officer,
Empire Level Mfg. Corp.
Directors Emeriti
Glenn A. Francke
Philip K. Harvey
John P. Metzger
Gerry E. Seider
Donald A. Trepte
M&I 19
22. Affiliate Boards
Eau Claire, WI Green Bay, WI Hartland, WI Janesville, WI
Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board
Robert R. Hood Michael D. Simmer Arthur T. Kraemer Ronald K. Ochs
President, President, Chairman, President,
M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank,
Eau Claire Green Bay Hartland Janesville
Peter B. Scobie Richard G. Baumgarten Scott A. Kraemer Frank E. Bauchiero
President, President, retired, President, Consultant
R. W. Scobie, Inc. M&I Fox Heights Bank M&I Marshall & Ilsley Bank,
Hartland J. Michael Borden
Steven R. Senn Bernard E. Dahlin President,
Chief Executive Officer, President, Steven C. Boysa Hufcor, Inc.
Senn Blacktop, Inc. Nichols Paper Products Chairman of the Board,
Creative Equities Company, Inc. Mark A. Cullen
Roger R. Sipple John M. Jones President,
Roger & Donald Sipple Farm Executive Vice President Robert C. Goff J. P. Cullen & Sons
and Chief Operating Officer, President,
Daniel J. Toycen Green Bay Packers Goff’s Auto Body, Inc. Richard L. Dashnaw
President, Retired,
Toycen Motors, Inc. Michael J. Langenhorst Stanley F. Hack Coltec Industries
President, President and CEO, Attorney
Toycen of Ladysmith, Inc. Anamax Group, U.S., Dennis L. Hansch
a division of Sanimax Donald L. McNeil Attorney,
Kenneth C. Vance Corporation Retired, Executive Director, Inc. Nowlan & Mouat
President,
Ken Vance Car City Inc. Peter D. Mancuso Richard A. Natalizio Charles H. Harker
Chief Executive Officer, Chairman of the Board, President,
President, Lindquist Machine Co. HNI Company, Inc. Mid-States Concrete
Ken Vance Motors, Inc.
Director Emeritus
Michael A. McDonald Charles L. Rushman Mary E. Kilkenny
James D. Myers President, Chairman, Broker,
McDonald Lumber Co., Inc. First Weber Realty Keefe Real Estate
Ann M. Murphy Paul J. Schmidt James F. Ruethling
Murphy Development, Inc. President, retired, Administrator,
Collections Unlimited, Inc. Beloit Clinic, S.C.
Thomas M. Olejniczak
Partner, Liebmann, Conway, Sheldon Volk David A. Weber
Olejniczak & Jerry, S.C. Executive Vice President, retired, President,
M&I Lake Country Bank Mode Industries, Inc.
Thomas L. Olson
President, retired, Dennis H. Wollenzien
Sonoco – U.S. Mills, Inc. President and
Chief Operating Officer, retired,
Ronald A. Weyers M&I Lake Country Bank
Directors Emeriti Directors Emeriti
William R. Bodart Patrick A. Corcoran
Carl Farah Anton R. Grasch
Michael B. Gage Charles J. Herro
Edward L. Meyer, Jr. William Hollenbeck
Peter M. Platten III J. Scott Kestly
Richard K. Mueller
August U. Pabst
Charles A. Perry
Richard A. Schmidt
Thomas J. Waldera
M&I 20
23. Affiliate Boards
Kenosha, WI La Crosse, WI Madison, WI Marshfield, WI
Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board
Kenneth L. Fellman Ronald A. Wessels Robert A. Schlicht Alan D. Nystrom
President, President, Chairman, President,
M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank,
Kenosha La Crosse Madison Marshfield
Mario Garetto, M.D. Dr. Julio J. Bird, M.D. Douglas S. Nelson John Baltus
Gastroenterologist Gundersen Lutheran President, President,
M&I Marshall & Ilsley Bank, Baltus Oil Co.
Robert G. Terwall Karl J. Brickl Madison
President, President, Donald Boon
Prairie Shores – Brickl Bros., Inc. Timothy B. Erdman President,
Concrete Solutions, Inc. Vice Chairman, Boon Construction
Russell J. Callahan, Jr. Marshall Erdman & Assoc.
Dennis Vignieri Retired, Chairman and CEO, Ronald D. Doine
President and Herbergers Erdman Holdings President,
Chief Executive Officer, Doine Excavating, Inc.
Kenosha Beef International Randolph A. Eddy, Sr. John M. Flesch
Limited President, Executive Vice President Terry Frankland
Carrier Insurance Agency and Treasurer, President,
Michael W. Wells Gordon Flesch Company, Inc. V&H, Inc.
President, Barbara Skogen
Frank L. Wells Company Vice President, Harold F. Mayer Kenneth F. Heiman
Skogen’s Foodliner, Inc. Vice President Operations, retired, Owner,
Oscar Mayer Foods Corp. Nasonville Dairy, Inc.
Robert F. O’Loughlin Ronald Maurer
President, President,
Softspikes, Inc. Maurer Roofing
Directors Emeriti
Richard R. Renk
Vernon Baltus
President,
Floyd Hamus
The Renk Seed Company
Robert O. Heck
Ken Heiting
Douglas G. Reuhl James W. Hewitt
President, John W. Koenig
American of Madison Robert Solberg
James F. Sternweis
Terry K. Shockley Lawrence I. Thill
President, Warner G. Von Holzen
Shockley Group, Inc. Frederick J. Wenzel
Ronald Wiskerchen
Jay L. Smith
President,
JLS Investment Group
F. Charles Steinhauer
Partner,
Steinhauer & Company
Jerry J. Weygandt
Professor of Accounting,
UW School of Business
Kathleen E. Woit
President,
Madison Community
Foundation
M&I 21
24. Affiliate Boards
Mayville, WI Menomonee Falls, WI Merrill, WI Oshkosh, WI
Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board
Kevin E. Volm Richard C. Becker John F. Koch Steven R. Schmudlach
President, President, President, President,
M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank,
Mayville Menomonee Falls Merrill Oshkosh
Melvin Drinkwine Ronald R. Bast Brian Arndorfer Cristopher Bumby
Retired, President, Assistant Vice President Director of Import Sourcing,
Tab Products Co. Riteway Bus Service, Inc. and Assistant General Counsel, Admanco, Inc., a division
Church Mutual Insurance of Ebsco Industries
Leo R. Fisher Robert E. Drisner Company
Chairman of the Board, retired, President and Jere Chapin
M&I Bank of Mayville Chief Executive Officer, Edward G. Chartier President, retired,
retired, Retired M&I Central State Bank
Dennis M. Kemmel Community Health Care
Owner, Services Lance R. Nienow Dennis Elmer
Kemmel Insurance Agency Chief Executive Officer, Food Broker
Donald H. Nimmer Weinbrenner Shoe Co.
George F. Olson Chief Executive Officer, Gary R. Lerch
Sales and Engineering, Enercon Industries Corporation Gary L. Schulze President,
W. G. Strohwig Tool & Die, Inc. Vice President, Service Oil Company, Inc.
Michael Richardson Victory Clinic Pharmacy, Inc.
Roy Rohlinger President, H. Andersen Lyke
Vice President, Richardson Financial Group, Inc. David B. Smith President,
Rohlinger Construction, Inc. Consultant and Private Investor Lyke Corporation
Douglas H. Stadelmann
Stanley A. Waas President, Dennis E. Schwab
President, Stadelmann Engineering, Inc. President,
Waas Boring & Cable, Inc. Coldwell Banker –
Directors Emeriti Schwab Realty Ltd.
Gerald S. Parshalle
Don A. Schneiders
A. W. Zillmer
M&I 22
25. Affiliate Boards
Racine, WI Rhinelander, WI Shawano, WI Sheboygan, WI
Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board Community Bank Advisory Board
Timothy J. Majcen Dale J. Opperman Jeffrey P. Mace James A. Maxon
President, President, President, President,
M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank,
Racine Rhinelander Shawano Sheboygan
Matthew L. Andis Ted S. Baginski, Jr. James A. Kasten Ronald E. Begalke
President, President, Vice President - Executive Vice President, retired,
Andis Company Ted Baginski and Sons Inc. Fluid Milk, Sargento Cheese Co.
Employee & Member Services,
Thomas L. Beck Fred A. Berner Foremost Farms Terence P. Fox
President, Editor, Attorney at Law,
Unico, Inc. Antigo Daily Journal Russell L. Obermeier Kummer, Lambert & Fox, LLP
Officer, Owner, Maple Creek Wildlife
James O. Parrish Berner Bros. Publishing President and Owner, Gary D. Maples
Vice President, Finance, Obermeier & Associates President, retired,
retired, Lowell R. Bostrom M&I Marshall & Ilsley Bank,
President and Owner,
Twin Disc, Inc. President, Sheboygan
Cloverleaf Sand and Gravel, Inc.
Woodruff Hardware, Inc.
David B. Rayburn Weston Hardware, Inc. Michael D. Muth
Larry J. Rose
President, Shawano Hardware, Inc. Chairman of the Board
CPA/PFS, Shareholder,
Modine Manufacturing and Chief Executive Officer,
Kerber, Rose & Associates, S.C.
Company William J. Cousineau K. W. Muth Company
Financial Consultant,
President,
Directors Emeriti First Choice Financial
Cousineau Auto Parts, Inc.
Kenneth Jensen Services, LLC
David J. Munroe
Earl E. Richter Kirby H. Roen
Russell P. Schmidt
Ernest C. Styberg, Jr. Director – Sector Planning,
Retired
Willard T. Walker, Sr. Citizens Communications
Harold C. Weiss Jerry J. Senzig
Irving Schiek III, M.D.
President and Owner,
Retired
retired, Senzig’s, Inc.
Dr. Martin R. Smith
Gary J. Tauchen
President,
Treasurer,
Foster & Smith, Inc.
Tauchen Harmony Valley, Inc.
M&I 23
26. Affiliate Boards
Stevens Point, WI Superior, WI/ Watertown, WI Wausau, WI
Community Bank Advisory Board Duluth, MN Community Bank Advisory Board Community Bank Advisory Board
Robert A. Schmidt Community Bank Advisory Board John H. Ebert Hugh E. Jones
President, James E. Zastrow President, President,
M&I Marshall & Ilsley Bank, President, M&I Marshall & Ilsley Bank, M&I Marshall & Ilsley Bank,
Stevens Point M&I Marshall & Ilsley Bank, Watertown Wausau
Superior/Duluth
James E. Anderson Richard Baker Edward J. Creske
Chairman, James L. Banks Baker-Rullman Mfg., Inc. Chief Executive Officer,
Ellis Stone Construction President and Wausau Tile, Inc.
Company, Inc. Chief Executive Officer, Robert A. Bender
Allouez Marine Supply, Inc. Attorney Dwight E. Davis
Marilynn J. Chesbrough Chairman and
John H. Hendricks William J. Kwapil, Jr. Chief Executive Officer,
Robert L. Cooper Of Counsel, Knudson, Seven-Up Bottling Co. Greenheck Fan Corporation
President, Gee & Torvinen, S.C.
Cooper Dental Directors Emeriti Richard D. Dudley
Mary E. Millard V. R. Bauman Chairman,
Jeffrey L. Martin E. W. McFarland Dudley Investments LLC
President,
Regional CEO, Millard & Associates, Inc.
Ministry Health Care Thomas J. Howatt
Fred L. Shusterich President and
Richard W. Okray President and Chief Executive Officer,
Secretary and Treasurer Chief Executive Officer, Wausau Paper Corp.
Okray Family Farms, Inc. Midwest Energy Resources
Ronald L. Klimisch
Thomas W. Rause John C. Smylie President,
President and Executive Vice President – Wausau Supply Company
Chief Executive Officer, Duluth Clinic,
Rause Management, Inc. SMDC Health System San W. Orr, Jr.
Chairman of the Board,
Ronald T. Skrenes Directors Emeriti Wausau Paper Corp.
Attorney, Richard H. Buth
Anderson, O’Brien, James T. Tracy John L. Skoug
Bertz, Skrenes & Golla Chairman and
Chief Executive Officer,
Directors Emeriti Marathon Cheese Corporation
Leonard F. DeBaker
Bennett C. Katz Neil F. Slamka
David Ross Miller Vice President and
Gerald M. O’Brien General Manager,
Joseph J. Okray Green Bay Packaging, Inc.
Robert W. Worth
M&I 24
