North Shore Bank in Brookfield, Wis., has agreed to buy 1895 Bancorp of Wisconsin in Greenfield.
The $2.5 billion-asset North Shore said in a press release that it will pay $18.40 to $18.66 a share in cash for the parent of the $598 million-asset PyraMax Bank. The deal is expected to close in the fourth quarter.
“This is a natural fit between two organizations that believe in community banking at its core,” Jay McKenna, North Shore’s president and CEO, said in the release. “It allows us to continue growing in markets we know well while expanding into a few new communities, all while staying true to the personal service our customers value.”
North Shore was advised by Piper Sandler and Reinhart Boerner Van Deuren. PyraMax was advised by Keefe, Bruyette & Woods and Luse Gorman.