The Fond du Lac parent company of National Exchange Bank & Trust said Friday it plans to buy Waupun's NBW Bank.
Financial terms of the deal, in which NEB Corp. would acquire National Bancshares Waupun Inc., weren't disclosed.
National Exchange Bank & Trust, with assets of more than $1.9 billion, is the seventh-largest nonspecialty bank headquartered in Wisconsin. It also is one of the state's top-earning banks, with profit last year of $33.3 million, Federal Deposit Insurance Corp. records show.
NBW Bank had assets of about $159 million at the end of 2018, and posted net income of almost $2.4 million.
“The addition of NBW Bank will be a great fit with our geographic footprint, and NBW’s history as a community bank that invests in their people and neighborhoods aligns naturally with National Exchange Bank & Trust,” Eric Stone, chief executive of National Exchange Bank & Trust, said Friday in a statement announcing the deal.
Read more in the Milwaukee Journal Sentinel.