United Bank and CCFBank complete merger
Published 7:23 pm Wednesday, October 24, 2018
United Bank customers in northwest Wisconsin will soon see a new brand in their local markets, according to a press release. Citizens Community Federal (CCFBank) and United Bank have completed their merger, combining the two financial institutions.
The merger was announced earlier in June after gaining United Bank shareholder approval for the transaction.
United Bank will merge into Citizens in a transaction valued at approximately $50.7 million. United Bank brings $268.5 million in assets, $240 million in deposits and $214 million in loans to the Citizens franchise. The combined company, headquartered in Altoona, Wisconsin, is expected to have over $1.24 billion in total assets with 27 locations in northwest Wisconsin and southern Minnesota.
CCFBank CEO and President Steve Bianchi sees the joining of the two companies as a great opportunity for their combined customers to benefit.
“We look forward to welcoming United Bank customers, employees and communities to the CCFBank family,” Bianchi said.
“Our team looks forward to growing and thriving with the CCFBank team,” said United Bank’s President and CEO Trevor Bohland added. “Given the challenges and opportunities of community banking today, the combined bank will be better positioned to meet the needs of our communities.”
United Bank customers will continue to use the current United Bank products and services until the conversion of the banking systems in February. In the coming months, all United Bank customers will receive official communication from CCFBank that will provide important account information and timelines in which changes will occur.
Members of the communities United Bank has served are encouraged to visit their local branches with any questions they have about the merger. They can call 800-590-9920 or 715-836-9999 or email through the CCFBank website.