A pair of Wisconsin banks will be merging later this year. NEB Corp, parent company of National Exchange Bank & Trust, has agreed to acquire National Bancshares Waupun’s NBW Bank.
Founded in 1905, Waupun-based NBW Bank has $159 million in assets, $141 million in deposits and $111 million in net loans and leases. It has four offices in Waupun, Rosendale, Brandon and Fairwater, Wis.
“The addition of NBW Bank will be a great fit with our geographic footprint, and NBW’s history as a community bank that invests in their people and neighborhoods aligns naturally with National Exchange Bank & Trust,” said Eric Stone, CEO of $1.9 billion National Exchange Bank & Trust and NEB Corp president.
The sale is scheduled to be completed in the third quarter of 2019, pending approval from regulators and the shareholders of National Bancshares Waupun, Inc.
“National Exchange Bank & Trust has the capacity and commitment to be a long-term financial services solution for our customers,” said Jerry O’Connor, president and CEO of NBW Bank. “They present a solid community bank culture that values their employees and supports their customers with a full array of financial services.”
Founded in 1933, the Fond du Lac-based National Exchange Bank & Trust has 33 offices in southeastern Wisconsin.