FOR IMMEDIATE RELEASE
June 8, 2017
Contact: Mark Schellpfeffer
Phone: (608) 223-5141
Monona Bank and Middleton Community Bank to Finalize Merger
Monona, WI – Monona Bank expects to complete their data integration of Middleton Community Bank over the weekend to become one bank. Beginning June 12, 2017 all five former Middleton Community Bank branches will begin operating as Monona Bank locations.
Monona Bank President & CEO Paul Hoffman feels that “merging our two banks made good sense for many reasons, especially since both banks were locally owned and shared similar management philosophies and a dedication to growing their communities.” He believes that “people may be surprised to learn about all the banking options Monona Bank has as one of the largest banks chartered in the State of Wisconsin.
Hoffman added that “now that our banks are fully integrated, our combined bank will offer increased services and locations while retaining the same knowledgeable advisors our clients at both banks are familiar with.” The merger also gives Monona Bank the opportunity to serve the agricultural market through the addition of several experienced Ag lenders to our team.
No positions were lost as a result of the merger. Monona Bank employs more than 150 associates at nine location around the Madison area. All five former Middleton Community Bank locations in Middleton, Cross Plains, Belleville, Sauk City and Brooklyn remain open, as well all four Monona Bank locations in Monona Madison and Cottage Grove.
Monona State Bank’s headquarters will remain in Monona with more than $835 million in assets by the end of Q2/2017.
About Monona State Bank
Monona State Bank is a locally owned and managed bank the believes “together, we prosper.” Founded in 1991, it is commited to making communities great places to live, work and raise a family.