Tag Archive for: Bank Mergers

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One Community Bank to Merge with Intercity State Bank

As a growing organization, One Community Bank (OCB) is proud to announce an upcoming merger with Intercity State Bank (Intercity). The planned merger represents the combination of two high-performing banks that both believe fiercely in a mission of serving clients, supporting colleagues, and investing in their communities.

One Community Bank and Intercity State Bank are well known to each other. Steve Peotter, OCB President and CEO, has served on the Intercity Board of Directors for the past 10 years. The two banks have also teamed up on high-profile projects in the greater Wausau area. An example is “The Foundry on 3rd” – a transformative new development in the city of Wausau which will redefine downtown living and business engagement. One Community Bank and Intercity State Bank are both owned by the same shareholder group, which has also reinforced their connection over the years.

“I am excited to have Intercity State Bank join One Community Bank in 2025,” said Steve Peotter, President and CEO of One Community Bank. “I have enjoyed the opportunity to get to know the Intercity team and community. Through this merger and our aligned approach, we will enhance our service offerings to clients, provide expanded career opportunities to colleagues, and ensure that community banking continues to thrive throughout Wisconsin.”

Intercity State Bank currently serves the greater Wausau community through bank locations in Schofield, Weston, and Wausau. All 3 locations will continue to serve clients after the merger and become branches of One Community Bank. All Intercity colleagues will continue in their roles and have opportunities to grow in their careers.

This announcement comes as Intercity State Bank’s President and CEO, Randy Balk, prepares to retire in February after 40+ years of distinguished service in banking. “It has been a sincere privilege to lead Intercity for the last 34 years,” Balk said. “I am proud that our staff has always worked hard to provide a high level of quality service needed to help the people and businesses of our community succeed in meeting their financial goals.”

As part of a planned succession, Chris Pfender, Intercity’s Executive Vice President, will step into the role of Regional President. Chris has been a pivotal player in guiding Intercity’s growth and overall performance. “I’m looking forward to leading our exceptional team here at Intercity as we continue to serve our clients. I am excited to combine with One Community Bank and build on our foundation of success in the greater Wausau community,” said Chris.

The merger is subject to regulatory approval and is planned to be finalized later this year.

One Community Bank is one of the largest community banks in south central Wisconsin. The locally owned bank has 16 bank locations and $2.2 billion in assets. It provides both personal and business banking solutions, with an intense focus on serving clients, supporting colleagues, and investing in its communities. Six years in a row named one of Madison’s best places to work, One Community Bank serves the communities of Oregon, McFarland, Waunakee, Stoughton, Sun Prairie, Cottage Grove, Middleton, Adams, Oxford, Grand Marsh, Hillsboro, La Farge, Readstown, Wonewoc, and Union Center. Member FDIC.

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Statement on Acquisition of Taxpaying Wisconsin Bank by Out-of-State Credit Union

By Wisconsin Bankers Association President and CEO Rose Oswald Poels 

Yesterday, a deal was announced that Wings Financial Credit Union, Minnesota’s largest credit union, will acquire Wisconsin-based Settlers Bank. According to the release, the transaction, which requires approval by state and federal regulators, is expected to close in the first quarter of 2023. At that time, Settlers Bank locations will be re-branded as Settlers Best Credit Union, a division of Wings Financial Credit Union.

Credit unions are continuing their aggressive behavior in Wisconsin using taxpayer dollars to purchase profitable, tax-paying banks. For the seventh time in the state of Wisconsin, a Wisconsin bank is being acquired by a credit union. Settlers Bank, located in Windsor, just outside of Madison, is selling to Wings Financial Credit Union, which has over $8 billion in assets. This is yet another profitable, business-focused bank located in an affluent part of the state, being purchased by a credit union taking more tax revenue off the state and federal tax rolls. If this acquisition closes, Wings Financial Credit Union will be the largest credit union doing business in Wisconsin. Recently, the deal announced earlier this year of Summit Credit Union buying Commerce State Bank, headquartered in West Bend, closed, costing the state over $1 million in annual tax revenue.

Wisconsin is quickly becoming a target for these acquisitions because existing laws in Iowa and Minnesota prevent such acquisitions. Much of this election season has been focused on social and fiscal responsibility. It is time for large credit unions (Wisconsin has 14 with assets over $1 billion each) to start supporting government social services by paying state and federal income taxes.

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Silhouettes of Business People Working in Board Room
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Announcing the 2022 Bank Executives Conference

This year’s event centers around the theme “Rise”

The Wisconsin Banker’s Association is thrilled to announce that the annual Bank Executives Conference will be back in person February 9–11, 2022 at the Kalahari Convention Center in Wisconsin Dells. This is the premiere event for bank leaders in the state. The theme of this year’s event will be “Rise.” Wisconsin bankers have risen to the occasion over the course of the pandemic, and this conference will address what it will take to be resilient and relevant in 2022.

Networking

Being back in person opens the door for the kind of networking opportunities that bank leaders have been craving for nearly two years. The conference will kick off with a networking reception on Wednesday evening, but bankers are invited and encouraged to arrive earlier for optional afternoon “banker-only” peer group discussions starting at 2:30 p.m. Peer group discussions are geared toward the roles of CEOs, CFOs, credit and lending, operations, and organizational development. Opportunities to connect with fellow bankers, WBA Associate Members, and WBA staff will be plentiful throughout the conference, with an exhibitor Marketplace providing a dedicated space for making connections.

Executive-Level Education

The WBA Bank Executives Conference brings national experts to Wisconsin, while providing tailored programming specific to the needs of banking leaders in our state. Among the trending topics that will be covered at the conference are:

  • Changes that emerged during the pandemic that are now here to stay
  • Talent recruitment and retention
  • Technology, fintech, and digital transformation
  • Cryptocurrency
  • And more!

New Hybrid Option for 2022 A livestream will allow attendees at the bank to view the keynote sessions on February 10 and 11.

The opening keynote session is titled, “Business as Unusual: How to Future-Proof Your Business in Transformational Times.” In this engaging, provocative, and insightful keynote session, acclaimed global futurist and best-selling author Jack Uldrich will not only discuss how the Coronavirus is transforming the world of tomorrow, he will explain why it is accelerating many of the trends that were already at work prior to the epidemic. History reminds us that great crises produce great change — as well as great opportunities. To take advantage of these extraordinary opportunities, businesses must position themselves now to operate in a world where “business as unusual” is the new “usual.” This session will help leaders at every level of an organization leverage ten “unconventional” techniques to succeed in today’s — and tomorrow’s — transformational times.

Dr. Chris Kuehl, managing director of Armada Corporate Intelligence, will present a keynote session, “2022 – The Real Recovery Year?” That honor was supposed to go to 2021, but we all know what happened over the last several months — inflation, labor shortage, supply chain breakdowns, and the repeated resurgence of the virus. Now we have these lingering issues along with the reactions — higher interest rates, efforts to restore, continued engagement by the government. The bankers have been placed squarely in the middle of all this and expected to do most of the heavy lifting. Does that continue and what can we really expect as far as growth and recovery?

For more details on programming and to view the full agenda, please visit www.wisbank.com/bec.

Banking leaders are eager to rise to the challenges ahead of them, and the conference will provide actionable tools and knowledge attendees can bring back to their banks and communities.

Recognition

The 2021 Banker of the Year will be announced at the conference, recognizing a bank CEO or president (or an individual who has recently retired from these positions) who has made an outstanding effort throughout their career in service to their bank, to their community, and to the banking profession.

The Wisconsin Bankers Foundation Financial Education Innovation Award will be presented at a special luncheon on February 10. This prestigious award recognizes a bank’s unique efforts to enhance the financial capability of consumers in their community, whether it’s a new kind of educational game for students, curriculum developed for adult seminars, or some other new or innovative approach to financial education.

The 50- and 60-Year Clubs recognize bankers who have served in the banking industry for 50 and 60 years, respectively. These awards will be presented during the special luncheon at the conference to honor professionals who have dedicated their careers to the banking industry.

Entertainment

Ope! Charlie Berens, best known to Wisconsinites for his viral video series, “The Manitowoc Minute,” will perform at the Chairman’s Dinner Program on Thursday, February 10.

Comedian, Emmy award-winning journalist, and Wisconsin native Charlie Berens — who rose to fame from his video series, “The Manitowoc Minute” — will provide the entertainment for the Chairman’s Dinner Program on February 10. Attendees can expect lots of laughs from the author of the recently released book, “The Midwest Survival Guide: How We Talk, Love, Work, Drink, and Eat. . . Everything With Ranch.” Berens has been featured on Fox, CBS, Funny or Die, TBS Digital, Variety, MTV News, and more. In 2013, he won an Emmy for “The Cost of Water” while reporting for Texas news station KDAF. “The Manitowoc Minute” series has garnered millions of views and paved the way for a sold-out standup comedy tour. Geez, Louise, this is sure to be a hilarious show you won’t want to miss!

Register

To register for the conference, please visit www.wisbank.com/bec. We look forward to seeing you Wednesday, February 9–Friday, February 11 at the Kalahari Convention Center in Wisconsin Dells!

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questions@wisbank.com

608-441-1200

4721 S Biltmore Ln.
Madison, WI 53718

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