The Partnership Bank location in downtown Tomah will open as Bank First starting July 15.
Bank First National Corporation, the holding company for Bank First, N.A., announced Wednesday it received federal and state regulatory approved to merge Partnership Community Bancshares, Inc., parent company of Partnership Bank, into Bank First.
“The approvals … come at a great time for Bank First,” stated Mike Molepske, president and chief executive officer of Bank First. “The transition teams at both Partnership Bank and Bank First have been working diligently to ensure the merger occurs smoothly and in a timely manner for our valued customers, and we look forward to bringing two strong organizations together as one.”
Partnership will seek approval of the merger from its shareholders at a special meeting to be held June 11, 2019. Subject to that approval, the merger of the two organizations is scheduled for Friday, July 12. The systems conversion would occur over that weekend, and the Cedarburg, Mequon, Tomah, and Watertown branches would open as Bank First branches on Monday, July 15.
“We are pleased to move forward with the merger with Bank First,” said David Braaten, chief executive officer of Partnership Bank. “This is a tremendous opportunity to partner with one of the top performing banks in the State of Wisconsin and become an important part of its 125-year history. This merger will provide the additional scale and resources we need to better serve our customers and build new relationships.”
Partnership Bank dates back to 1894, when it was founded as First Bank of Tomah. It merged with Town and County Bank of Watertown in 2014 and assumed the Partnership Bank bank name.