Community Capital Bancorp, Inc., a Wisconsin corporation headquartered in Menomonee Falls, and Collins Bankcorp, Inc., a Wisconsin corporation and the parent company of Collins State Bank, a Wisconsin state chartered bank headquartered in Collins, Wis., announce the merger of Collins Bankcorp into Community Capital. As a result of the merger, Collins State Bank will become the wholly-owned bank subsidiary of Community Capital.
Community Capital’s founders, including CEO Dave Davis, consist of experienced community bankers looking to build on Collins State Bank’s rich history in East-Central Wisconsin to develop existing markets, as well as to expand into new markets. "We at Community Capital are so pleased to work with Jeff Mueller and his team at Collins State Bank," stated Davis. "We embrace the spirit of community banking associated with a locally-owned bank formed more than 100 years ago such as Collins."
Located in Collins and founded in 1914, Collins State Bank is a private community bank with four locations and total assets of $112 million as of December 31, 2020. Jeff Mueller, Chairman of Collins Bankcorp and Collins State Bank, will become a significant shareholder of Community Capital and will join its Board of Directors. "When Dave and I started sharing our thoughts on community banking, it was obvious that this was a great opportunity to maximize our current and future shareholder value," stated Mueller. "We welcome each of our new team members to our Collins State Bank family. Collins State Bank is now positioned to continue its unwavering commitment to home town personal customer service for many years to come and to remain ‘Big Enough to Serve You; Small Enough to Know You."
The merger agreement has been unanimously approved by the boards of directors of each company, and is subject to customary closing conditions, including approval by the shareholders of Collins Bankcorp and required regulatory approvals. It is anticipated that the transaction will close in the late second or early third quarter of 2021.
Boardman & Clark, LLP served as outside counsel to Community Capital Bancorp, Inc. JK Law LLC and Godfrey & Kahn S.C. served as outside counsel to Collins Bankcorp, Inc.