Monona Bank and Middleton Community Bank Finalize Merger
Monona Bank completed their data integration of Middleton Community Bank over the weekend so they are now 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 Hoffmann 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.”
Hoffmann 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 and nine locations 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.