Oregon Community Bank, McFarland State Bank to merge
In a transaction that will create one of the largest community banks in Dane County, Oregon Community Bank and McFarland State Bank have signed a definitive agreement to merge their institutions. The merger, which is subject to regulatory approval, is expected to take place in the first quarter of 2020.
By combining forces, the two family-owned banks will create a bank with more than $1.1 billion in assets and 11 offices, including single offices in McFarland, Sun Prairie, Middleton, and Waunakee, and two offices each in Oregon and Stoughton.
Executives of both banks called the merger an opportunity to grow in south-central Wisconsin. No layoffs or reductions in staff are planned as a result of the partnership, and the merger allows the banks to remain locally owned. McFarland State Bank shareholders will become shareholders of Oregon Community Bank.