Bank CMG to buy Farmers State in merger of Wisconsin banks
Bank CMG in Madison, Wis., has agreed to buy Farmers State Bank in Mineral Point, Wis.
The $900 million-asset Bank CMG said in a press release that it expects to buy the $450 million-asset Farmers State by mid-2026. The price wasn’t disclosed.
“This acquisition reflects our commitment to growth and innovation within the state of Wisconsin,” Christopher George, chairman of Greenwoods Financial Group, the holding company of Bank CMG, said in the release. “Together, we will deliver exceptional value to our clients through enhanced product offerings and excellent customer service.”
“We believe Bank CMG shares our commitment to community banking and to investing in the people and relationships that make local economies thrive,” Matthew Staver, Farmers State’s president and CEO, said in the release. “This partnership is about preserving what makes Farmers special while creating new opportunities for the next generation of customers and employees.”