BENTON, Wis. — A Madison-based firm is acquiring one of southwest Wisconsin’s oldest banks.
Thompson Kane & Co. announced Wednesday that it has agreed to acquire Benton State Bank, according to a press release. The acquisition is subject to regulatory approval and is expected to close by the fourth quarter of this year.
Chartered on Oct. 19, 1894, Benton State Bank has assets of $76.6 million.
The release states that the bank will continue to provide services at its existing locations and that the entire management team of the bank will remain in place. Benton State Bank has branches in Benton, Potosi and Shullsburg.
The Benton bank will be able to expand its lending operations following the acquisition, according to the release.
Scott Freiburger, currently the executive vice president of the Benton bank, will become its president upon the closing of the transaction.