Intercity State Bank in Schofield, Wis., will be absorbed by One Community Bank in Oregon, Wis.
The $266 million-asset Intercity and the $2.2 billion-asset One Community are owned by the Bosshard family. The merger is expected to close later this year.
Randy Balk, Intercity’s president and CEO, will retire on Feb. 28. Chris Pfender, the bank’s executive vice president, will become a regional president on March 1.
“It has been a sincere privilege to lead Intercity for the last 34 years,” Balk said in a press release. “I am proud that our staff has always worked hard to provide a high level of quality service needed to help the people and businesses of our community succeed in meeting their financial goals.”
Steve Peotter will remain One Community’s president and CEO.