Anchor Bancorp Wisconsin Inc. said Tuesday that it had agreed to buy FCB Financial Corp. of Oshkosh, Wis., for about $169 million in stock.

Anchor Bancorp is the parent of AnchorBank SSB, a $2.1 billion financial institution. FCB is parent of Fox Cities Bank, which has $535 million of assets.

Douglas J. Timmerman, president of Anchor, said the deal would expand Anchor's existing personal and business services in the growing Oshkosh area.

The companies expect the deal to close in the second quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.