Security Financial to buy Jackson Co. bank
The parent company of Eau Claire-based Security Financial Bank intends to acquire Jackson County Bank in a transaction set to close later this year.
Security Financial Services Corp. announced last week that the boards of directors for each bank have approved of the acquisition, which is anticipated to close late in the third quarter.
“Our respective boards and executive management teams share a common vision of this opportunity,” Paul Rudersdorf, president and CEO of Security Financial said in a news release. “We believe this acquisition will make both banks stronger.”
The transaction is subject to customary closing conditions, including shareholder and regulatory approvals. Following the merger, the combined bank will have assets of about $700 million.
Security Financial has offices in Bloomer, Durand, Eau Claire, Ladysmith and River Falls. Johnson County Bank has locations in Black River Falls, Alma Center, Hixton, Taylor and Merrillan.
Augusta-based bank adds Montana office
Unity Bank bought a bank in Montana last week, adding that state to its current territories in Wisconsin and Minnesota.
On Monday the former First Citizens Bank in Polson, Mont., reopened as the newest branch of Unity Bank.
“I am very pleased to have Unity Bank take on this new addition to our family,” owner and CEO Rachel Goodell said in a news release.
Headquartered in Augusta, Unity Bank has four locations in west-central Wisconsin and 11 offices in Minnesota.
• Royal Credit Union has promoted Jeff Marty to serve as regional director of branch operations, which makes him the leader of RCU’s branch managers in Eau Claire, Chippewa Falls and Rice Lake. Marty began working for the Eau Claire-based credit union in 2005 as a teller supervisor and progressed on the job to become a branch manager.
• Martin Dental plans to break ground on a new building in Altoona in early June with the intention of moving into it in November. The spa-style general and cosmetic dental office has been located in Eau Claire since 2010, but the new offices will allow for adding staff and serving more people, according to a news release.
From staff reports