Greenfield, Wis.-based 1895 Bancorp of Wisconsin is engaging Keefe, Bruyette & Woods to explore strategic alternatives.
According to the company, the engagement could include “a strategic business combination or sale of control.” The company did not establish a timeline to conclude the strategic review or take action.
1895 Bancorp of Wisconsin is the holding company for $562 million PyraMax Bank. The company is voluntarily delisting from Nasdaq and deregistering from the Securities and Exchange Commission.
“After careful consideration, the board of directors has determined that this course of action is in the best interests of the company and its stockholders,” said David Ball, president and CEO of 1895 Bancorp of Wisconsin. “Delisting and deregistration are expected to reduce our compliance and accounting expenses, and we will allow management additional time to focus on our core mission.”