PREMIER COMMUNITY BANK TO PURCHASE FOUR BAYLAKE BANK OFFICES
Marion and Sturgeon Bay, Wisconsin – (PR Newswire) – June 19, 2012
Premier Community Bank and Baylake Bank today announced that they have signed a
definitive agreement for Premier to purchase the Baylake branch operations in
Waupaca, King, Manawa, and Fremont, Wisconsin. On a combined basis, the
transaction is expected to involve total deposits of approximately $69.2 million
and total loans of approximately $35.5 million. The transaction is expected to
close in early fall of 2012.
Premier, headquartered in Marion, Wisconsin, currently has banking offices in
Marion, Scandinavia, Iola, Bonduel, Shawano, Tigerton, Bear Creek, and Pulaski.
Premier President Thomas J. Pamperin said the acquisition into similar nearby
communities was a natural move for Premier and follows the recent pattern of its
other successful community extensions.
“Baylake Bank is a well-run organization driven by a professional and dedicated
staff. Baylake’s philosophy of quality service is consistent with our customer
and community service philosophy,” Pamperin said. “We look forward to welcoming
their staff on board, and are committed to a smooth and seamless transition for
deposit and loan customers. We are a strong bank and fully expect to become
stronger by becoming good and active corporate citizens and financial service
providers in these four excellent Wisconsin communities.”
“The staff of both Premier Community Bank and Baylake Bank are working together
to ensure a smooth transition,” said Robert J. Cera, Chief Executive Officer
Baylake Bank. “Knowing the leadership of Premier Community Bank in our industry,
we are confident that the Premier team will continue to provide reliable,
quality banking and other financial services to our many friends, neighbors, and
community partners in Waupaca, King, Manawa, and Fremont. In addition, the
familiar faces you have come to know and trust from Baylake Bank are expected to
join the Premier staff,” Cera said.
Baylake Bank’s other Central Region offices located at N4386 State Road 49 in
Poy Sippi and at 764 Broadway in Berlin, Wisconsin, are not included in the sale
and will continue to operate as Baylake Bank Financial Centers.
Premier, which has approximately $200 million in total assets, carries on a
tradition of providing community banking services since 1941. For more
information about Premier Community Bank, visit www.premiercommunity.com.
Baylake, which has $1.1 billion in total assets, is headquartered in Sturgeon
and currently serves individuals and businesses throughout eight counties in
northeastern and central Wisconsin.