(Horicon) Horicon Bank has announced the closing of its merger with Markesan State Bank. Sword Financial Corporation, the holding company of Horicon Bank, says the acquisition should be finalized when conversion of information technology and data processing systems are complete, which is expected this October. At that time, Markesan State Bank will operate under the Horicon Bank brand.
Horicon Bank President Fred Schwertfeger says until October, it’s business as usual for Markesan State Bank customers. He says there may be a few new faces of Horicon Bank personnel in their branches helping to train Markesan State Bank employees for the transition to new, upgraded systems. Schwertfeger says the merger “allows the institution to partner with another locally-minded, community-focused financial institution to create an even stronger organization to serve their customers’ and communities’ financial needs.”
Markesan State Bank has locations in Markesan, Randolph, and Waupun. Horicon Bank currently operates 15 locations in Dodge, Fond du Lac, Green Lake, Winnebago, Calumet, and Washington counties. The combined institution will have approximately $880 million in total assets; Horicon Bank has $750 million, and Markesan State Bank has $130 million. Schwertfeger says more information will be released before the conversion is complete.