MILWAUKEE -- St. Francis Capital Corp. said it reached a definitive agreement to acquire two banking offices in a deal that will pave the way for the merger of Valley Bancorp and Marshall & Ilsley Corp.
The sale of the offices in Kewaskum and Hartford, Wis., with combined deposits of about $80 million, was a condition for clearing government antitrust scrutiny.
St. Francis said the acquisition should be consummated by October, subject to state and federal regulatory approvals and certain other unspecified conditions. It expects to pay about $8 million, plus an additional payment at book value for loans it will assume.
