Merger will expand CCF Bank to Tomah
Altoona-based Citizens Community Federal Bank will grow into the Tomah market with the acquisition of Farmers & Merchants Bank.
Valued at $21.6 million, the two financial institutions announced the impending merger last week and it is expected to close in the second quarter.
“We are excited about this opportunity to grow our community banking franchise in central western Wisconsin,” Stephen Bianchi, president and CEO of CCF Bank, said in a news release.
The deal expands CCF’s reach, which had recently grown into the Osseo area through a merger with United Bank, which closed in October.
F&B Bank has two locations in Tomah and has the second largest market share in Monroe County for banks. Peter Reichardt, CEO of F&M Bank will remain as head of CCF’s operations in Tomah following the merger.
Pepin nursing facility will close in April
Pepin Health and Rehab, 1110 Second St., will close in April, resulting in the loss of 54 jobs.
The nursing home’s operating company, Pepin Operator, sent a notice last week to the Wisconsin Department of Workforce Development announcing the layoffs.
Twenty of the employees will be terminated between March 23 and April 5. The remaining workers are will be laid off between April 6 and when the facility permanently closes on April 22, according to the notice.
• Great Northern, an Appleton-based packaging company with a facility in Chippewa Falls, recently became part of Amazon’s network of approved packaging suppliers. This connects vendors to packaging companies that can test, design and supply protective packaging that meets online retailer Amazon’s requirements.
• Boyceville business Integrated Automotive Services, 1204 Railroad Ave., now offers U-Haul moving products and services, including truck rental.
• Ben Graf, an employee of Green Oasis in River Falls, recently received an award from the Minnesota Nursery and Landscape Association for a landscaping project he handled for a Woodbury, Minn. residence.
From staff reports