Augusta, Wis.-based Unity Bank has completed its acquisition of First Citizens Bank of Polson, Mont., its first office in the state.
First Citizen’s sole branch opened as an office of Unity on May 18. The $17 million First Citizens posted a loss of $1.2 million in net income in 2019 in addition to a $494,000 loss in 2018. It had net loans and leases of $8.7 million in 2019, down from $11 million a year previous, mostly in real estate.
“I am very pleased to have Unity Bank join the Polson community,” said Rachel Goodell, CEO of the $565 million Unity Bank. “Now more than ever, community banks play a vital role and I thank you for welcoming Unity Bank into your Polson community.”
Unity Bank has 15 other offices, four in Wisconsin and 11 in Minnesota.