State Financial Services Corp., Hales Corners, Wis., has agreed to buy Lokken, Chesnut & Cape Inc., an investment management firm in Lacrosse, Wis., for an undisclosed amount.
The acquisition would allow $418 million-asset State to offer financial and estate planning services to its customers. Lokken, Chesnut & Cape, which has $95 million of assets under management, would retain its name, location, and client base as a State subsidiary.
The deal is expected to close at the end of the third quarter and is not expected to have a material impact on State's 1998 earnings.
State, parent of State Financial Bank, announced in June that it would also purchase a thrift charter through the acquisition of $368 million- asset Home Bancorp, Elgin, Ill.