Centre 1 Bancorp in Beloit, Wis., has agreed to buy Walworth State Bank in Wisconsin.
The $838 million-asset Centre 1 did not disclose the price it is paying or a target closing date. The deal was announced in a news release late last week.
Centre 1 is the holding company for First National Bank & Trust, which was established in 1882 and has 13 branches in Wisconsin and Illinois. Walworth is Centre 1's first acquisition since 2001, when it bought First National Bank of Winnebago in Illinois and Macktown State Bank in Rockton, Ill.
The $269 million-asset Walworth was established in 1903 and is owned by Countryside Financial Services in Walworth. It operates four branches in Walworth County.
Hovde Group was financial adviser to Centre 1 and Quarles & Brady was its legal counsel. Piper Jaffray advised Walworth and Boardman & Clark was Walworth's legal counsel.