Baylake selling four local branches to Premier
Baylake Bank is selling four Waupaca County branch offices to Premier Community Bank, the institutions announced Tuesday.
Premier is purchasing Baylake branches in Waupaca, King, Manawa and Fremont. The transaction is expected to close in early fall of 2012.
Headquartered in Marion, Premier has approximately $200 million in total assets and banking offices in Scandinavia, Iola, Bonduel, Shawano, Tigerton, Bear Creek and Pulaski.
Baylake, which has $1.1 billion in total assets, is headquartered in Sturgeon Bay and currently serves
customers in eight counties in northeastern and central Wisconsin.
The four Waupaca County branches involve total deposits of approximately $69.2 million and total loans of approximately $35.5 million.
“The familiar faces you have come to know and trust from Baylake Bank are expected to join the Premier staff,” said Robert Cera, Chief Executive Officer Baylake Bank.
Baylake Bank’s offices located in Poy Sippi and in Berlin are not included in the sale and will continue to operate as Baylake Bank Financial Centers.