Monona Bankshares Inc., holding company for Monona State Bank, announced the acquisition of Middleton Community Bank’s holding company. A binding agreement was signed on July 28.
The combined bank will operate under the Monona name, have $775 million in assets, and will employ more than 150 associates across nine locations. No layoffs are anticipated.
Shareholder and regulatory approval are still required, and closing could occur in the fourth quarter with integration completed by the summer of 2017.
