State Bank of Cross Plains, Wis., has agreed to acquire Union Bank & Trust Co., Evansville, Wis.
The $259 million Union Bank and Trust has five locations in Evansville, Belleville, Brooklyn, New Glarus and Oregon, Wis. It has $206 million in total loans and leases and $215 million in deposits.
After the merger closes, expected in the second quarter, State Bank of Cross Plains will have 15 branches in three southern Wisconsin counties.
“We are extremely excited to have the opportunity to join forces with the UB&T team and to continue the bank’s success and long-standing commitment to the communities it serves,” said Jim Tubbs, president and CEO of the $977 million State Bank of Cross Plains. “We intend to capitalize on the existing footprint of UB&T and to strategically grow the bank’s presence in Wisconsin, all while honoring the bank’s emphasis on building long-term relationships and providing exceptional levels of service.”
State Bank of Cross Plains currently has 10 branches in Dane County, Wis.