BOSP Bancshares in Sun Prairie, Wis., has agreed to buy Banner Bancorp in Birnamwood, Wis.
BOSP, the parent of the $742 million-asset Bank of Sun Prairie, said in a press release that it plans to buy the holding company for the $126 million-asset Banner Banks in the fourth quarter. The price wasn’t disclosed.
D. Shannon Blakley, Banner’s president and CEO, will serve as a consultant after the deal closes.
“This is a great opportunity … to diversify our balance sheet and expand our footprint,” Jimmy Kauffman, Bank of Sun Prairie’s CEO, said in the release. “Alignment with another community bank with similar values and a long-standing track record in their community is a perfect fit for us.”
Banner Banks was founded in 1900 and chartered in 1903. It operates four branches located in Birnamwood, Hatley, Antigo, and Wittenberg. As reported at year-end 2024, it held $126 million in assets with 23 full-time equivalent employees.