Banks merge, move is felt in Watertown
MANITOWOC -- Bank First National Corporation, the holding company for Bank First, N.A., has announced it recently received approval from the Office of the Comptroller of the Currency, the Federal Reserve and the Wisconsin Department of Financial Institutions to merge Partnership Community Bancshares, Inc., parent company of Partnership Bank, into Bank First.
“The approvals come at a great time for Bank First,” Mike Molepske, president and chief executive officer of Bank First, said.
Molepske said the transition teams at both Partnership Bank and Bank First “have been working diligently to ensure the merger occurs smoothly and in a timely manner for our valued customers, and we look forward to bringing two strong organizations together as one.”
“We are pleased to move forward with the merger with Bank First,” David Braaten, chief executive officer of Partnership Bank, said. “This is a tremendous opportunity to partner with one of the top performing banks in the state of Wisconsin and become an important part of its 125-year history. This merger will provide the additional scale and resources we need to better serve our customers and build new relationships.”
Partnership will seek approval of the merger from its shareholders at a special meeting to be held June 11.
Subject to that approval, the merger of the two organizations is scheduled for July 12. The systems conversion would occur over that weekend, and the Cedarburg, Mequon, Tomah, and Watertown branches would open as Bank First branches on July 15.