Iowa-based holding company announces official acquisition of Wisconsin-based bank
By: TS Banking Group
Treynor, Iowa, October 1, 2021 - TS Banking Group is pleased to share the First National Bank and Trust Company acquisition of State Bank of Arcadia, Wis., from B&E Investments will close October 1, 2021. First National Bank and Trust Company is based in Clinton, Illinois in the center of Illinois ag country and is part of the TS Banking Group, a bank holding company with community banking locations in Iowa, North Dakota, Illinois and now Wisconsin. Reinhart Boerner Van Deuren S.C. and Oakridge Financial advised B&E Investments, Inc. on the transaction.
With banking assets of $210 million, State Bank of Arcadia serves an area in western Wisconsin that has a strong and diverse commercial and ag industry. As of October 1, 2021, State Bank of Arcadia’s name and operations will officially merge into TS Banking Group’s Illinois based First National Bank and Trust Company, with the resulting bank having approximately $400 million in total assets across five locations.
The name change symbolizes the intention to reach a broader market and advance banking technology while delivering value to clients. Additionally, early next year, First National Bank and Trust Company will celebrate its 150-year anniversary of serving clients, and the company is eager to unite these legacies together.
First National Bank and Trust Company provides personal and business banking, lending as well as trust, investment and retirement planning services. The shared values and joint mission of community commitment, local impact and transformational service will benefit clients and community members.
“We look forward to continuing to build upon Arcadia’s long history of serving clients and communities well. Clients in the Wisconsin locations will continue to experience the same great service from the same familiar faces they know and trust. We are very excited to usher in this new chapter with our nearly 150-year history, and we are fortunate to be doing so with a community and team that shares our commitment,” said First National Bank and Trust Company President, Joshua Shofner.
TS Banking Group is a multi-charter bank holding company group, with $1.5 billion in banking and fiduciary assets and locations across Iowa, Illinois, North Dakota, Wisconsin, Nebraska, Colorado and California. The TS Banking Group is headquartered in Treynor, Iowa, which is located in the Omaha, Neb., MSA.
“We are excited to announce the most recent addition to our TS Banking Group family, the State Bank of Arcadia. The Arcadia marketplace represents everything our company stands for and we are excited to partner with existing marketplace contributors to further Ignite Prosperity® in those communities. Along with the organic growth TS Banking Group has experienced in recent years, this addition to the company further enhances our financial strength, competitive positioning and talented employee base,” said TS Banking Group President, Kevin Forristall.
For more information on this announcement visit tsbg.com or call (844) 487-3030.
About TS Banking Group: The TS Banking Group’s purpose is to ignite lasting client and community prosperity by helping people DO MORE with their money. TS Banking Group is a multi-charter bank holding company group, with $1.5 billion in banking and fiduciary assets and locations across Iowa, Illinois, North Dakota, Wisconsin, Nebraska, Colorado and California. The TS Banking Group is headquartered in Treynor, Iowa, which is located in the Omaha, Neb., MSA.
TS Banking Group is a dedicated community banking group focused on upholding a community bank management philosophy while acquiring community banks in the upper Midwest. The overall objective of the acquisition strategy is to expand an organization with a client-focused operating efficiency that allows for the long-term prosperity of community banking. To achieve this goal, the TS Banking Group believes it must 1) preserve the ‘local impact’ at each community bank by allowing the acquired bank to focus their efforts on serving their clients and communities where they are located, and 2) harness the power of a multi-bank operating group to provide a high level of technology, risk management and financial management.