Bank CMG announced that it has entered into a definitive agreement to acquire Farmers Savings Bank. This strategic move aims to bolster Bank CMG's market presence in Wisconsin and enhance its service and product offerings to its growing customer base.
The acquisition, which is subject to shareholder and customary regulatory approvals, is expected to close by mid-2026. By combining resources with Farmers Savings Bank, Bank CMG intends to leverage its expanded portfolio to provide an even broader range of financial solutions and innovations to consumers and businesses throughout Wisconsin.
"Today is an exciting day for our bank as we welcome Farmers Savings Bank into the Bank CMG family," said Christopher M. George, Chairman of the Board of Greenwoods Financial Group Inc., the bank holding company of Bank CMG. "This acquisition reflects our commitment to growth and innovation within the state of Wisconsin. Together, we will deliver exceptional value to our clients through enhanced product offerings and excellent customer service."
"Farmers Savings Bank has always been about people - our customers, our employees, and the communities that trust us with their financial futures," said Matthew Staver, President and CEO of Farmers Savings Bank. "We are proud of the legacy we have built and grateful to everyone who has helped shape our story. We believe Bank CMG shares our commitment to community banking and to investing in the people and relationships that make local economies thrive. This partnership is about preserving what makes Farmers special while creating new opportunities for the next generation of customers and employees."
The acquisition will bring together two teams of experienced professionals dedicated to fostering strong relationships with clients and communities. As part of the acquisition, Bank CMG plans to integrate Farmers Savings Bank into its operations, focusing on maintaining customer service excellence throughout the transition. Customers of both banks can expect to receive timely updates and information about any changes that may affect their accounts.