Greenwoods State Bank Announces Name Change to Bank CMG

With the recent closing of the sale of Greenwoods State Bank (GSB) to Christopher M. George, WBA staff talked with leadership at GSB to learn more about the transaction and the opportunities it presents for the bank and its customers.

It is important to remember that Christopher M. George individually purchased GSB; the mortgage company he owns, CMG Home Loans, did not. With this transition, GSB will officially become Bank CMG starting October 1, 2025, and will have a new logo. Bank CMG will continue as a full-service financial institution offering lending and treasury management for business and retail customers. Its commitment to their clients, employees, and the communities they operate in remains the same.

Part of the strategy behind this ownership change is to gain national strength and more resources, offering even more opportunities and innovative solutions to customers, all while keeping the personal service their customers trust. In the near term, Bank CMG will drive residential volume from seven states’ (WI, MN, IA, IL, MI, IN, OH) loan production offices through the bank, and is looking to create wealth management services.

By Q2 2026, the bank will have an expanded selection of residential mortgage products, including residential construction loans, All in One loans (a first lien home equity that sweeps back and forth from a checking account), multiple avenues for down payment assistance, expanded secondary market offerings, and competitive jumbo loan products. Operationally, Bank CMG is looking to improve and expand its systems both internally and customer-facing. As with most banks, Bank CMG intends to continue its growth through future acquisitions, de novo branches, and organic growth in existing markets.

Bank CMG is focused on ensuring its strong customer service and extensive community involvement continues well into the future. While the team will be growing, customers will also continue to see the same people and same smiles when interacting with the bank. In WBA’s conversation with Bank CMG leadership, they emphasized that all of their Wisconsin markets (Madison, Lake Mills, Waukesha, Burlington, Lake Geneva, Monroe, Monticello, Albany, Evansville) will remain vitally important as they move forward and grow. WBA wishes Bank CMG much success through this transition!