FOND DU LAC, Wisc. – NEB Corp. President Eric Stone announced that it has reached an agreement with National Bancshares Waupun, Inc., to purchase NBW Bank. NEB Corp. is the holding company for National Exchange Bank & Trust, and National Bancshares Waupun, Inc. is the holding company for NBW Bank.
Jerry O’Connor, President and CEO of NBW Bank, commented, “National Exchange Bank & Trust has the capacity and commitment to be a long-term financial services solution for our customers. They present a solid community bank culture that values their employees and supports their customers with a full array of financial services.”
“The addition of NBW Bank will be a great fit with our geographic footprint, and NBW’s history as a community bank that invests in their people and neighborhoods aligns naturally with National Exchange Bank & Trust,” Stone, also CEO of National Exchange Bank & Trust, said.
James Chatterton, President and Chief Operating Officer of National Exchange Bank & Trust, commented: "The leadership teams of the two institutions will be integrally working together to preserve a quality customer experience. We have a strong commitment to support the staff and customers as we make this transition.”
The sale is scheduled to be completed in the third quarter of 2019, pending approval from regulators and the shareholders of National Bancshares Waupun, Inc. The offices in Waupun, Rosendale, Brandon and Fairwater will continue to operate as NBW Bank until they are transitioned to National Exchange Bank & Trust.
National Exchange Bank & Trust, the only bank held within the NEB Corp. holding company, is an independent, Wisconsin-based bank headquartered in Fond du Lac, Wisconsin, that has more than $1.9 billion in assets and operates offices throughout Southeastern Wisconsin.
National Bancshares Waupun Inc. is the holding company of NBW Bank, a $155 million dollar financial institution with four offices that was formally organized in 1905. For more information, visit nbwbank.com or call 920.324.5551. The NBW Bank is a member of the FDIC and an Equal Housing Lender.