Citizens Community Bancorp has entered into an agreement with American National Bank of Beaver Dam, Wisconsin, to acquire three ANB branches located inside Wal-Mart Supercenters.
These three new branches – located in Appleton, Fond du Lac, and Oshkosh, Wisconsin – will bring Citizens’s total number of Wal-Mart Supercenter branches to four.
According to Jim Cooley, CEO of Citizens Community Bancorp, this transaction is expected to be completed by the end of calendar 2008 third quarter. Both Citizens Community Federal and American National Bank (ANB) will work together to ensure a smooth and seamless transition. Terms of the deal were not disclosed.
John Oathout, executive vice president of American National Bank of Beaver Dam, stated: This proposed transaction gives these Wal-Mart locations a trusted partner for the future and the opportunity for continued growth. This move allows us to sharpen our growth focus and devote additional resources to the remaining branches – a priority for ANB.