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Bank of Wausau approaching federal deadline

by
Money
Money

WAUSAU, WI (WSAU) -  The clock is ticking for a Wausau financial institution to improve its financial standing or find a buyer. The Federal Deposit Insurance Corporation gave the Bank of Wausau sixty days to do that in February. April 5th is the deadline.

The FDIC reported Saturday their belief the bank is continuing to deteriorate and that management has not demonstrated the ability to return it to health.

The Bank of Wausau has nearly 53 million dollars in assets, but they’ve also had four straight years of overall losses.

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