Calumet Bancorp. in Chilton, Wis., has agreed to buy Calumet Bancshares in Brillion, Wis.
Calumet Bancorp., the parent of the $175 million-asset State Bank of Chilton, said in a press release last week that it expects to complete its purchase of Calumet Banchshares, the holding company for the $91 million-asset Calumet County Bank, in the spring. The price was not disclosed.
"I am very excited about this partnership of two strong, local, community focused banks," Tom Bloomer, president and chief executive of State Bank of Chilton, said in the release. Calumet Bancshares "has built its business around a philosophy of close personal service, local decision making, and a commitment to helping families, businesses and our communities succeed."
Oak Ridge Financial Services Group provided a fairness opinion to the board of Calumet Bancshares.