Powered by

Horicon Bank plans to acquire troubled Markesan State Bank

Feb 28, 2019 - Milwaukee Journal Sentinel (Wisconsin)
Mergers and Acquisitions

Horicon Bank said Wednesday it plans to buy struggling Markesan State Bank, which has been under special scrutiny by regulators as it wrestles with troubled farm loans.

Terms of the deal, in which Horicon parent company Sword Financial Corp. will acquire Markesan Bankshares Inc., weren't disclosed.

The acquisition will add approximately $130 million in assets to Horicon Bank, giving it a total of about $880 million and making it one of the 25 largest banks based in Wisconsin.