National Exchange Bank & Trust to Purchase NBW Bank
NEB Corp, the holding company for National Exchange Bank and Trust has reached an agreement to purchase NBW Bank from its holding company, National Bancshares Waupun, Inc. The sale is scheduled to be completed in the third quarter of this year, pending approval from regulators and shareholders of NBW Bank. NBW’s offices in Waupun, Rosendale, Brandon and Fairwater will continue to operate as NBW Bank until they are transitioned into National Exchange Bank and Trust.
National Exchange Bank and Trust is headquartered in Fond du Lac and has more than $1.9 billion in assets – operating offices throughout southeast Wisconsin. NBW Bank is a $155 million financial institution that was formally organized in 1905.
National Exchange Bank & Trust CEO Eric Stone said “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.”
Jerry O’Connor, President and CEO of NBW Bank said “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.”