Bank First and Partnership Bank Merger
We are excited to announce Bank First has entered into a merger agreement to acquire Partnership Bank, headquartered in Cedarburg, WI.
The Agreement and Plan of Merger has been approved by the Boards of Directors of Bank First and Partnership. The closing of the transaction, which has a target date of July 12, 2019, is subject to customary conditions, including regulatory approval and approval by shareholders of Partnership.
The two institutions offer a diverse set of competencies that when combined, result in a stronger organization. Partnership has established itself as a leading provider of financial products and services in Ozaukee, Monroe, and Jefferson counties, resulting in a strong deposit base. This complements Bank First’s already strong customer relationships in Ozaukee County and allows those customers closer access to physical branch locations.
Through Bank First’s 30% ownership of Ansay & Associates (Ansay), Partnership’s customers will benefit from a closer connection to superior insurance and risk management solutions. Ansay’s headquarters is in Port Washington and they have a total of 22 offices located throughout the state of Wisconsin. They are the largest and fastest growing independent insurance agency in the state and are listed as one of the top 100 independent agencies in the nation.
Additionally, Partnership’s customers will benefit from Bank First’s 49.8% ownership of UFS, LLC, a company that provides data and technology services to 60 Midwest banks. Bank First’s relationship with UFS gives it the buying power of a large regional bank, creating opportunities to access the latest advancements in banking technology at a faster rate than its peers.
Another opportunity for the combined organization is to leverage Bank First’s sophisticated suite of treasury management products and services. The integration of Bank First’s treasury management services will add significant value for Partnership Bank customers.
“We are very excited to be uniting with Partnership Bank and increasing our footprint in Wisconsin,” stated Mike Molepske, President and Chief Executive Officer of Bank First. “With Partnership’s community involvement, strong deposit base, superior credit quality, and relationship model of banking, it was evident from the start this would be the perfect fit for both banks as well as their employees, customers, and shareholders. We look forward to our future together as a combined institution and the substantial impact we will have in the communities we serve.”
“Bank First is a Wisconsin-based homegrown community bank just like us. Our values, vision for building relationships and delivery of remarkable client service closely align,” stated David Braaten, President and Chief Executive Officer of Partnership Bank. “Merging with Bank First provides us additional strength and resources for growth in our markets and the ability to efficiently deliver innovative products and services to our clients.”
Read the full Press Release announcement.
We will publish more information on this page as it becomes available. In the meantime, please feel free to visit www.mypartnershipbank.com to learn more about Partnership Bank.