34
Wisconsin Community Banker
July/August 2014
CHANGING SCENE
replacing it with a nine-story, mixed-
use building with retail space and
housing. The new proposal will create
retail space with a landscaped rooftop
behind the bank and addition, and
build a 548-space underground park-
ing garage below South Carroll Street.
When completed, the new plan
will add 32,000 square feet of retail
and restaurant space in Downtown
Madison.
HSA Bank to Move to
Downtown Milwaukee
SHEBOYGAN—HSA Bank will
move its Milwaukee area office from
the northern suburb of Glendale to
Schlitz Park’s RiverCenter building in
downtown Milwaukee. The bank, a
division of Waterbury, Conn.-based
Webster Bank, is expected to move
100 employees to 16,000 square feet
on the second floor of the building in
August.
Founded in 1913 as Howards Grove
State Bank, the institution began to
focus on consumer medical savings
accounts in 1997. The bank changed
its name in 2004 and was acquired
by Webster Bank a year later. It has
$2.5 billion in accounts and special-
izes in tax-advantaged health care
savings plans to 600,000 consumers
nationwide.
Waukesha Holds Ribbon
Cutting for New Branch
WAUKESHA—Waukesha State Bank
held a ribbon cutting ceremony
to open its new, 5,000-square-foot
Brookfield branch at 18300 W. Capitol
Drive. The new building replaces
the original branch at 19265 Capitol
Drive.
The grand opening featured
appearances by local officials, prize
drawings, and other activities.
In addition to the new Brookfield
branch, Waukesha State Bank has
branches in Delafield, Mukwonago,
Muskego, New Berlin, Oconomowoc,
Pewaukee, Sussex, and Waukesha.
Nicolet Builds in
Medford
GREEN BAY—After acquiring Mid-
Wisconsin Financial Services in April
2013, Green Bay’s Nicolet National
Bank expanded its footprint from the
Fox Valley to Central Wisconsin.
With the change comes a new
building in Medford, the former head-
quarters of Mid-Wisconsin. Nicolet
National Bank has started construction
on the new 10,200-square-foot building
on a lot of the former Medford State
Bank, which will be razed following the
estimated October completion. Miron
Construction Company is the con-
struction manager.
The Medford bank has 35 employ-
ees and hosts the five employees of
Nicolet’s call center that operates dur-
ing regular banking hours.
American to Acquire
InvestorsBank
FOND DU LAC—American Bank
plans to acquire InvestorsBank,
Waukesha, a family-owned bank
with assets of about $204 million that
focuses on entrepreneurs and small
businesses. It also specializes in SBA
and USDA lending programs.
Founded in 1968, American Bank
has assets of about $325 million and
locations in Brownsville, Mayville,
Princeton, Omro, and Fond du Lac.
Its parent company, NEB Corp., has
assets of $1.5 billion and also oper-
ates National Exchange Bank & Trust,
Fond du Lac.
If regulators approve, the acquisi-
tion is expected to be final later this
year.
“We plan for things to be business-
as-usual for the customers and staff
of both banks,” said American Bank
President Jim Chatterton in a news
release. “This is an exciting and ener-
gizing opportunity, which allows us to
blend our strengths and qualities with
those of InvestorsBank, while broad-
ening our reach.”
Richard Hensley, chief executive
officer at InvestorsBank, said, “We
welcome American Bank and look
forward to a long and healthy future
under its leadership.”
According to
Gordy King, presi-
dent and COO, the
acquisition allows
InvestorsBank to
expand its exper-
tise and maximize
the solutions it
offers business
owners.
This is a first
step toward a plan
that calls for expan-
sion of the com-
bined bank’s offer-
ings and services in
the Waukesha and
greater Milwaukee
market, according
to the three bank
leaders.
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