The Bank of New Glarus to Acquire First National Bank at Darlington
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Through a joint announcement today it was shared that The Bank of New Glarus will purchase First National Bank at Darlington. The acquisition will join two community banks with a combined 217 years of servicing customers across Green, Lafayette and Dane counties.
Ron Schaaf, President and CEO of The Bank of New Glarus, said, “We are extremely proud to be acquiring First National Bank at Darlington. There are many similarities between the banks and this connection will allow us to provide an even greater level of products and services across our local communities.”
Amy Smith, President of First National Bank at Darlington, added, “All of us at First National Bank are excited about what this partnership will bring to our customers, employees, and the communities we serve. The Bank of New Glarus has an outstanding reputation, and we look forward to expanding on our offerings in conjunction with them.”
The definitive agreement was approved by the Boards of Directors of both The Bank of New Glarus and First National Bank at Darlington. The deal is expected to close in Q4 of 2022, following regulatory approval and approval by the shareholders of First National Bank at Darlington. As part of the acquisition, First National Bank at Darlington will continue to serve consumers, small business owners, and farmers in its current locations.
The Bank of New Glarus was advised on the transaction by Wipfli LLP and Dickinson Wright PLLC. First National Bank at Darlington was advised on the transaction by Oak Ridge Financial and Reinhart Boerner Van Deuren, S.C.
About Bank of New Glarus
The Bank of New Glarus was opened in 1893, as the first official bank in New Glarus. Offering a full range of financial products and services to its customers, including personal banking, business banking and wealth management, The Bank of New Glarus has branch offices located in New Glarus, Belleville, Monroe, Juda and Brodhead. Member FDIC and Equal Housing Lender.
About First National Bank
First National Bank has been serving the needs of Lafayette County since 1934. The bank, with locations in Darlington and Gratiot, has a commitment to customers that is second to none. Member FDIC and Equal Housing Lender.
