|For Immediate Release
March 26, 2014
For more information contact:
Gary Riley, President/CEO First Federal Bank of Wisconsin (262) 548-4448
Stephen Johnson, President/CEO Bay View Federal Savings and Loan Association (414) 744-1831
Local Community Banks to Merge
Waukesha & Milwaukee, WI. ‐ First Federal Bank of Wisconsin (Waukesha, WI) and Bay View Federal Savings and Loan Association (Milwaukee, WI) announced that they entered into a definitive agreement to merge, subject to regulatory approval. The merger agreement on March 18, 2014 will result in a combined federal savings association, with total assets of approximately $255 million and is expected to be completed in Mid‐2014. The merged banks will use the First Federal Bank of Wisconsin name and the home office will be located at 1617 E. Racine Avenue in Waukesha.
“This merger will provide us with an enhanced capacity to better serve our customers and jointly expand,” stated Gary Riley, President/CEO of First Federal Bank.
“I am very excited about this partnership, which we structured as a merger of equals, and what it means to our customers,” stated Stephen Johnson, President/CEO of Bay View Federal. “This gives us the opportunity to offer more products and services to our customers and local community.”
All bank customers will receive notice of the merger and the enhanced benefits that are available to them.
The two institutions are steeped in history of both Waukesha and Bay View, respectively, with over 90 years of community banking for each. First Federal Bank was charted in 1922 and has three offices in Waukesha (1801 Summit Avenue, 134 Wisconsin Avenue and its home office at 1617 E. Racine Avenue)and is in the process of building a new office in Brookfield. For more information on First Federal Bank visit www.firstfederalwisconsin.com. Bay View has one office located at 3974 S. Howell Ave, Milwaukee,which will become First Federal Bank, Bay View office after the merger. More information on Bay View Federal is available at www.bayviewfederalsavings.com.
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