Oregon Community Bank and McFarland State Bank today jointly announced they have signed a definitive agreement to merge their institutions. Subject to regulatory approval, the merger is expected to take place in the first quarter of 2020.
“This merger is an excellent fit for both organizations and will create one of the largest community banks in Dane County with over $1.1 billion in assets,” said E. David Locke, Chairman and CEO of McFarland State Bank. “It brings together two locally-run, family-owned banking organizations that have strong, customer-focused staffs and a culture rich in service to the community. By combining our two family-owned banks and the talent of our staffs, we will be poised to expand our footprint in South Central Wisconsin more efficiently and effectively. The combination allows us to offer additional products, additional lending capabilities and new technologies important to our customers and vital to the future success of thriving community banks like ours.”
The combined organization will have 11 offices located in McFarland, Sun Prairie, Middleton, Waunakee, Adams, Oxford, Grand Marsh, two offices in Oregon and two in Stoughton.
There are no planned layoffs or reductions in staff expected as a result of this new partnership.
“We believe this is an amazing opportunity to grow in South Central Wisconsin,” said Steve Peotter, President and Chief Executive Officer of Oregon Community Bank. “As part of this merger, we will be reinvesting across the board and growing to meet the needs of the communities we serve. Oregon Community Bank’s mission is to serve clients, support colleagues, and invest in our communities. Our commitment to exceptional client service can only be achieved through our dedicated colleagues. I look forward to leading our combined organizations and welcome the McFarland State Bank team to the family.”