A merger of two Wisconsin banking institutions is now official.
The Bank First Corporation has received regulatory approval from the Office of the Comptroller of the Currency (OCC) and the Federal Reserve, and the shareholders of PSB Holdings have approved a planned merger between Bank First and Peoples State Bank.
The entities noted that this merger will allow Manitowoc-based Bank First to expand into markets in North Central Wisconsin and the greater Milwaukee area through a complementary branch network, while Peoples benefits from the scale, resources, and technology of a larger institution without sacrificing local decision-making or its community-focused culture.
Bank First Chairman and CEO Mike Molepske said of the merger, “Our goal is to make this process as simple and straightforward as possible while maintaining the personal service and trusted relationships that Peoples customers have come to expect.”
PSB CEO Scott Cattanach added, “As we move toward closing, our focus remains on supporting our employees, taking care of customers, and making sure both have the information they need in the months ahead.”
The transaction is expected to close on December 4th.
