Horicon Bank said Wednesday it plans to buy Markesan State Bank.
Terms of the deal, in which Horicon parent company Sword Financial Corp. will acquire Markesan Bankshares Inc., weren't disclosed.
The acquisition will add approximately $130 million in assets to Horicon Bank, giving it a total of about $880 million and making it one of the 25 largest banks based in Wisconsin.
The transaction, which needs regulatory approval, is expected to close late in the second quarter or early third quarter of this year.
“Both banks have actively served Dodge and Green Lake counties for decades, and this merger builds on the combined strengths of our banks,” Frederick F. Schwertfeger, president of Horicon Bank, said in a statement announcing the deal. “We are proud of our service to rural farming communities, and we look forward to embracing comparable communities in our new neighboring cities.”
Read more in the Milwaukee Journal Sentinel.