Bank CMG announced the completion of its acquisition of Farmers Savings Bank, bringing together two Wisconsin community banks with a shared focus on customer service, local decision-making, and community investment.
The acquisition expands Bank CMG’s community banking presence across Wisconsin and strengthens its ability to deliver banking, lending, treasury management, and digital banking services to customers throughout the state. The transaction closed after receiving all required regulatory and shareholder approvals.
Farmers Savings Bank was founded in 1917 and has served families, businesses, and communities across southwestern Wisconsin for more than a century. The bank has built its reputation around personalized service, reinvestment in local communities, and long-standing customer relationships.
Bank CMG said the transaction combines its statewide presence and financial solutions with Farmers Savings Bank’s community banking legacy. The deal is intended to create a stronger community bank with expanded capabilities while preserving local relationships.
Customers of Farmers Savings Bank will continue working with the bankers and teams they know. They will also gain access to a broader suite of products, services, and technology solutions through Bank CMG.
Both organizations said they are focused on ensuring a seamless customer experience throughout the integration process. The combined bank will continue emphasizing personalized support, local service, and expanded access to modern banking tools.
The combined institution will also continue investing in local communities through lending, charitable giving, volunteerism, and support for nonprofit organizations. Bank CMG said both institutions share the belief that community banks play an important role in supporting economic growth and strengthening the communities they serve.
The acquisition is another step in Bank CMG’s strategic growth initiative. The company said it plans to continue expanding its footprint while remaining rooted in the values that define community banking.
Founded in 1893, Bank CMG, formerly Greenwoods State Bank, is a Wisconsin state-chartered community bank and a State Member Bank of the Federal Reserve System. The bank has served families and businesses for more than 130 years with a focus on local decision-making, reinvesting deposits in the communities it serves, and building personal banking relationships.
KEY QUOTES:
“Today marks an exciting milestone for both organizations and the communities we serve. Farmers Savings Bank has continually earned the trust of its customers over generations by staying true to the principles of community banking. We are honored to welcome their customers, employees, and communities into the Bank CMG family. Together, we are creating a stronger community bank that combines local relationships with expanded capabilities, innovative financial solutions, and a shared commitment to helping individuals, families, and businesses thrive.”
Christopher M. George, Chairman of the Board of CMG Bancorp
“At Bank CMG, we believe the strongest banking relationships are built locally and strengthened by a genuine commitment to the customers we serve. Farmers Savings Bank has spent more than a century earning that trust, and we are excited to build on that legacy. As we bring our organizations together, our focus remains on delivering a seamless experience for customers while expanding access to leading-edge financial solutions, digital capabilities, and the personalized support they expect from a local bank. We look forward to growing together.”
Jim Hegenbarth, President of Bank CMG
“As we prepare to join Bank CMG, we do so with tremendous pride in the legacy we have built over the past century. Bank CMG’s commitment to community banking, exceptional customer service, and investing in the communities they serve makes this a natural transition for our organization. We are deeply grateful to our customers, employees, directors, and communities for the trust and support they have given Farmers Savings Bank throughout our history. While this marks the close of one remarkable chapter, we are confident that the values and relationships that have defined Farmers Savings Bank will continue to make a positive impact for years to come as part of Bank CMG.”
Matthew Staver, CEO and President of Farmers Savings Bank
