Sword Financial Corporation, the holding company of Horicon Bank, announced the closing of its merger with Markesan Bancshares, Inc. on July 1, 2019.
“We are happy to be joining forces with the Markesan State Bank team,” said Frederick F. Schwertfeger, president of Horicon Bank. “The merger allows us to partner with another locally-minded, community-focused financial institution to create an even stronger organization to serve our customers’ and communities’ financial needs.”
Sword Financial Corporation anticipates that Markesan State Bank will be merged into Horicon Bank when conversion of information technology and data processing systems are complete – which is scheduled for October 2019. When the data conversion is completed, Markesan State Bank will operate under the Horicon Bank brand.
“Until October, it’s business as usual for our Markesan State Bank customers,” said Schwertfeger. “They may see a few new faces of Horicon Bank personnel in their branches – helping to train Markesan State Bank employees for the transition to new upgraded systems. Customers can continue to do their banking like they have always done. We’ll keep them up-to-date with information as we get closer to conversion.”
Markesan State Bank has locations in Markesan, Randolph, and Waupun. Horicon Bank operates fifteen locations in Dodge, Fond du Lac, Green Lake, Winnebago, Calumet, and Washington counties. The combined institution will have approximately $880 million in total assets; Horicon Bank has $750 million, and Markesan State Bank has $130 million.