Horicon-based Horicon Bank has leased an office in the Riverwood Corporate Center III in Pewaukee to serve as the home base for its new trust administration offering.

The 1,806-square-foot space at N19 W24200 Riverwood Drive has four employees, said Chris Berens, vice president at Horicon Bank, who leads trust administration. Berens was hired on at Horicon in April to launch the division. 

Horicon does not directly manage trust funds, offering just trust administration services to financial advisors as an independent trustee. It also provides trust and estate settlement, financial power of attorney, and bill paying services.

“This is a bit unique,” Berens said. “As far as I know, it’s the first community bank in the Midwest that is offering just trust administration services and not managing the assets of the trust. We work directly with the clients. The only thing we don’t do is manage the assets.”

The office represents an expansion into southeastern Wisconsin for Horicon, which Berens said is driven by the need for independent trust administration in Milwaukee and Madison. 

Read more in BizTimes Milwaukee.