Following months of planning and preparations, First State Bank successfully completed its merger of Pioneer Bank this past weekend, announced President and CEO Bob Van Asten.
First State Bank is an independent community bank headquartered in New London, Wis. The merger significantly expands the bank’s service area in central Wisconsin adding seven offices in Wisconsin Rapids, Stevens Point, Marshfield, Auburndale, Rozellville, Greenwood, and Withee. First State Bank first entered the region in 2017 when it acquired Farmers and Merchants Bank in Rudolph. It now has thirteen offices throughout Waupaca County and central Wisconsin and total assets of approximately $450 million.
“We are excited to build on Pioneer’s strong community bank philosophy with expanded lending capabilities, enhanced online and mobile banking technologies, and a continued commitment to local decision making and supporting our communities,” said Van Asten. “We are particularly proud to make checking accounts affordable and accessible to everyone with our Fantastic Free Checking which is available not only to individuals and families but also businesses.” Van Asten noted that First State Bank, like Pioneer Bank, has a long history of lending to dairy farms and other agri-business, which also makes the merger a great fit.
First State Bank is planning a grand opening celebration for mid-April. “In the meantime, we invite people to come check us out,” added Van Asten.