Two banks in southern Wisconsin will merge later this year. The Bank of New Glarus will buy the $191 million First National Bank at Darlington. The deal is expected to close during the fourth quarter of this year.
As part of the deal, First National Bank at Darlington will continue serving farmers, small business owners and customers in its current branches. The value of the deal was not announced.
“There are many similarities between the banks, and this connection will allow us to provide an even greater level of products and services across our local communities,” said Ron Schaaf, president and CEO of the nearly $400 million The Bank of New Glarus.
The Bank of New Glarus was advised on the transaction by Wipfli LLP, Milwaukee, and Dickinson Wright PLLC, Detroit. First National Bank at Darlington was advised by Oak Ridge Financial, Golden Valley, Minn., and Reinhart Boerner Van Deuren, s.c., Milwaukee.
“All of us at First National Bank are excited about what this partnership will bring to our customers, employees and the communities we serve,” said President Amy Smith. “The Bank of New Glarus has an outstanding reputation, and we look forward to expanding on our offerings in conjunction with them.”