Marshall & Ilsley Corp., Milwaukee, said upon completion of its merger with Valley Bancorp., expected in mid-1994, the M&I Bank of Watertown and Valley Bank of Appleton will combine, creating a single operation with offices in Watertown, Beaver Dam, and Juneau.

David M. Hanson, chairman and chief executive of Valley Bank, will assume those titles at the new entity. John H. Ebert, president of M&I Bank of Watertown, will be named president.

In his position as president, Mr. Ebert will assist in the continued growth of the bank and be responsible for management in accord with current regulations, corporate policies, and sound management practices.

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