Mancino’s names closing date, new location

EAU CLAIRE — Mancino’s Grinders & Pizza announced that Sept. 22 will be its final day of doing business at 809 W. Clairemont Ave.

Situated in front of a hotel that will be turned into apartments, the Eau Claire restaurant’s home for the last 19 years will soon be demolished.

The eatery that’s been part of Eau Claire for 25 years is already in the process of moving to a new home, which is scheduled to open in December.

Owners Samantha and John Biwer are moving their restaurant into a strip mall building they own at the southwest intersection of Brackett Avenue and South Hastings Way.

Before the move though, they are marking their last day at the Clairemont Avenue site with a celebration that will raise money for downtown Eau Claire homeless shelters.

On Sept. 22, the restaurant will be open for regular dining until 3 p.m. At 4 p.m. it will reopen for its closing party, which is open to all customers. A $5 entry fee charged to attendees will be donated to Sojourner House and Beacon House.

RCU merging with Xcel employees’ credit union

EAU CLAIRE — A credit union formed nearly 90 years ago to serve power company employees will soon become part of Royal Credit Union.

Eau Claire-based RCU announced plans Friday for a merger with Utilities Credit Union that will be effective on Sept. 30.

Formed in 1932 to serve employees of Northern State Power as well as their family members and company retirees, Utilities Credit Union currently has $6.7 million in assets and 896 members.

“Royal Credit Union is a strong financial institution with a history that is quite similar to that of UCU, as Royal was started by a group of employees within a company in 1964,” John R. Ness, chairman of Utilities Credit Union, said in a news release.

There’s also overlap between the two credit unions with about 500 people being members of both of them.

The lone Utilities Credit Union office inside the Xcel Energy building at 1414 W. Hamilton Ave. will shut down after the merger, and members will be served at RCU locations.

State banks see PPP loans forgiven, paid off

MADISON — Declining loans seen on Wisconsin banks’ balance sheets was attributed in part to federal Paycheck Protection Plan loans that were forgiven or paid off.

Statistics released last week by the Federal Deposit Insurance Corp. showed a 2.3% drop in net loans and leases at Wisconsin banks when comparing June 2020 to this year’s midway point.

“As Paycheck Protection Program loans are forgiven and fully paid off, banks are seeing some decline in loan balances,” said Rose Oswald Poels, president and CEO of the Wisconsin Bankers Association, said in a news release.

Wisconsin banks reported $92.5 billion in net loans and leases this June, down from $94.7 billion a year before.

Of particular note was an 18.3% drop in commercial and industrial loans seen in the FDIC’s mid-year report for state banks.

The report showed the state’s economy continuing to improve from the financial impacts caused by the COVID-19 pandemic.

For example, the amount of noncurrent loans and leases was down 27% compared to June 2020.

Short Takes

• EAU CLAIRE — A new branch office for financial advice firm Edward Jones recently opened on Eau Claire’s southwest side. Tim Owen, a 35-year veteran of the financial services industry, is leading the new branch in the multi-tenant building at 923 W. Clairemont Ave.

From staff reports