Madison County Financial in Madison, Neb., has bought a bank and insurance agency in Winside, Neb.
The $318 million-asset Madison County disclosed in a regulatory filing Tuesday that it had bought Winside Bancshares, the holding company of the $25 million-asset Winside Bank, from three members of the Warnemunde family. Winside had one branch.
The deal was valued at about $4 million, based on Madison County’s closing stock price on Monday,
Separately, Madison County said it bought Warnemunde Insurance & Real Estate Agency from two members of the Warnemunde family. While the insurance agency shared office space with Winside, it wasn’t owned by Winside Bancshares.
The agency deal was valued at around $708,000, based on Madison County’s closing stock price on Monday.