Tuesday, October 11, 2011

Acquisition of Merchants, Ozaukee Bank to close this month - The Business Journal of Milwaukee:

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The transaction, valued at a combined $327.2 will expand the BMO Financial's U.S. branch network by nearl y 20 percent. When the deal closes, the banks and their approximatelgy40 full-service and 13 limited-service locations will operatw as Harris Bank. Harris now operates a commerciaol banking locationin Brookfield. Ozaukee Bank is a community bank withsix full-service and two limited-service locationes in the northern part of the greater Milwaukee area. With $694 million in assetsz and $561 million in deposits, Ozaukee Bank holds the largest deposit share inits market.
Merchantxs and Manufacturers isa multi-bank holdingf company with six bank subsidiarie operating 34 full-service and 11 limited-service locations in an area concentrated in and extending into Green Bay to the northn and La Crosse to the west. Merchants and Manufacturers banks have acombined $1.5 billion in assets and $1.2 billiojn in deposits, holding more than half of theire deposits in the Milwaukee of Chicago has more than 230 The acquisition moves Harris closer to its goal of 350 to 400 locatione across the Midwest.

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