California mortgage banker Christopher George is acquiring Lake Mills, Wis.-based Greenwoods Financial Group, Inc., and subsidiary Greenwoods State Bank.
The price was not disclosed. The acquisition is expected to close in the first quarter of 2025.
George is former chair of the California Mortgage Bankers Association and Mortgage Bankers Association and remains on the board of the latter. He founded San Ramon, Cal.-based mortgage lending company CMG Financial in 1993, and has more than 40 years of experience in the mortgage industry.
A $575 million bank, Greenwoods State Bank has nine branches throughout southern Wisconsin. Greenwoods Financial Group will continue to be led by CEO Bill McDonald, while Rob Cera will remain CEO of Greenwoods State Bank.
“I look forward to working with Bill, Rob and the entire Greenwoods team to assist in expanding the bank’s footprint and market share in Wisconsin and throughout the Midwest,” George said. “Together, we will build on the strong foundation established by Greenwoods, while continuing to invest in people and technology for the benefit of customers in the communities we serve.”
New York City-based law firm Sullivan & Cromwell LLP and Chicago-based RSM US LLP advised George, while Milwaukee-based Reinhart Boerner Van Deuren, s.c. advised Greenwoods State Bank.
