36
Wisconsin Community Banker
March/April 2014
CHANGING SCENE
For more details, visit the CBW
website,
to see the latest Banconomics Report.
Town Bank Expands
HARTLAND—Town Bank will
purchase 11 Wisconsin branches of
Talmer Bank and Trust, headquar-
tered in Troy, Mich. Town Bank will
assume all of Talmer’s deposits in
Wisconsin, which totaled about $360
million on March 31. Talmer will not
sell any loans to Town Bank in the
transaction.
Talmer purchased the offices of the
former First Banking Center in Burl-
ington from the FDIC in 2010.
Town Bank, a subsidiary of
WinnTrust Financial Corp. of Rose-
mont, Ill., also plans to acquire the
Pewaukee branch of THE National
Bank, adding $40 million in deposits
and about $90 million in performing
loans.
Home Savings Gets
Approval to Sell Stock
MADISON—Regulators have
approved Home Savings Bank’s plans
to sell stock.
Founded in 1895, the bank, with
its $115.2 million in assets, intends to
transform itself from a mutual savings
bank to a stock-based savings bank.
The new holding company, Home
Bancorp, plans to sell up to 1,163,800
shares at $10 a share. An additional
270,922 shares will be available, also at
$10 each, to employees participating
in the bank’s 401(k) retirement plan.
Those with at least $50 of deposits
in Home Savings will be the first to
buy stock and will have a month to
finalize the deal. Employees and other
customers will be next followed by
Dane County residents. The stock sale
will be open to the public after that.
The bank expects to raise between
$6.2 million to $10.4 million depend-
ing upon the number of shares sold.
Waterstone Reports
Increased Income
WAUWATOSA—Waterstone Finan-
cial, Inc. (NASDAQ: WSBF), hold-
ing company for WaterStone Bank,
reported a 3 percent increase in
pre-tax income for the year ended
December 31, 2013 compared to 2012.
Pre-tax and net income totaled $23.3
million and $14.7 million, respec-
tively, for the year ended December
31, 2013 compared to $22.7 million
and $34.9 million, respectively, for the
year ended December 31, 2012.
Doug Gordon, president and CEO,
stated, “Financial performance for
2013 reflects continued asset qual-
ity improvement for the community
banking segment partially offset by
reduced profitability for the mortgage
banking segment. In addition, Water-
stone Financial, Inc. completed its
second-step conversion in January of
2014 which resulted in our becoming
a stock holding company with a gross
capital raise of $253 million. Strong
participation in the capital raise by
WaterStone
Bank depositors
is gratifying.”
Waterstone
Financial, Inc.
is a single-bank,
thrift holding
company with
$1.9 billion in
assets. It has
nine community
bank branches in
the metropoli-
tan Milwaukee
market, a loan
production office
in Minneapolis,
and mortgage banking offices in 22
states around the country.
Anchor Construction
Projects
MADISON, WEST ALLIS—Anchor-
Bank will refurbish its nine-story
downtown Madison AnchorBank
building at West Main and South
Carroll streets starting in July. The
project will include the construction
of a multi-level parking structure
behind the bank; expanding the exist-
ing building with more office space,
storefronts, and a restaurant, and
wrapping the entire building with an
energy-efficient curtain wall to allow
in natural light. When completed, the
building will almost double the total
rentable office space from 109,715
square feet to 190,000 square feet.
In West Allis, AnchorBank will
open a branch at 7401 West Greenfield
Ave. in August. The existing branch
was demolished in February and the
bank’s lobby was relocated to a tempo-
rary building directly behind the old
building. The improved structure will
feature several drive-up lanes, plus a
drive-up ATM and night depository.
Banks Plan Merger
WAUKESHA, MILWAUKEE—First
Federal Bank of Wisconsin, headquar-
tered in Waukesha, and Bay View Fed-
eral Savings and Loan, headquartered
in Milwaukee, plan to merge. Pending
regulatory approval, the banks expect
to complete the merger in midyear.
The merged institution will operate
under the First Federal Bank of Wis-
consin name and be headquartered in
Waukesha.
At year-end 2013, First Federal
had assets of almost $120 million and
three branches in Waukesha. It is in
the process of opening a new branch
in Brookfield.
Bay View had assets of $134.5
million at year-end. Its home office
at 3974 S. Howell Ave. will become a
branch of First Federal upon comple-
tion of the merger.
