Feb. 27, 2019 – West Bend, WI – Horicon Bank is excited to announce that we plan to acquire Markesan State Bank. Sword Financial Corporation, the hold company for Horicon Bank, has entered an Agreement and Plan of Merger to acquire Markesan Bancshares, Inc., the holding company for Markesan State Bank. Pending regulatory approval, we’re hoping the acquisition will be completed by early third quarter of this year.
The combined institution will have approximately $880 million in total assets; Horicon Bank has $750 million, and Markesan State Bank has $130 million. Horicon Bank President, Fred F. Schwertfeger said, “We are happy about joining forces with the Markesan State Bank team. As a caring community bank, Horicon Bank will continue to build and strengthen the relationships that have been forged for many years by Markesan.”
A press release from Horicon Bank is below.
(HORICON, WI) February 25, 2019 – Sword Financial Corporation, the holding company of Horicon Bank, a Wisconsin state-chartered bank, announced today that it entered into an Agreement and Plan of Merger on February 15, 2019 to acquire Markesan Bancshares, Inc., the holding company for Markesan State Bank, a Wisconsin state-chartered bank. The transaction is expected to be completed in late second quarter or early third quarter of 2019, pending regulatory approval and approval by Markesan shareholders.
Frederick F. Schwertfeger, President of Horicon Bank said, “We are happy about joining forces with the Markesan State Bank team. As a caring community bank, Horicon Bank will continue to build and strengthen the relationships that have been forged for many years by Markesan.”
Debra Lins the CEO of Markesan State Bank was pleased with this merger, stating, “We believe that our affiliation with Horicon will be beneficial to our customers and our communities.”
The transaction will combine two similar state regulated banks with longstanding traditions of providing personal service to their respective communities. “Both banks have actively served Dodge and Green Lake counties for decades, and this merger builds on the combined strengths of our banks,” said Schwertfeger. “We are proud of our service to rural, farming communities, and we look forward to embracing comparable communities in our new neighboring cities.”
Markesan State Bank has locations in Markesan, Randolph, and Waupun. Horicon Bank currently operates fifteen locations in Dodge, Fond du Lac, Green Lake, Winnebago, Calumet, and Washington counties. The combined institution will have approximately $880 million in total assets; Horicon Bank has $750 million, and Markesan State Bank has $130 million.
