Friday, 10 July 2026 03:40 PM
Mergers and Acquisitions
MADISON, WI / ACCESS Newswire / July 10, 2026 / Bank CMG announced today the successful completion of its acquisition of Farmers Savings Bank, bringing together two respected Wisconsin community banks with a shared commitment to customer service, local decision-making, and investing in the communities they serve.
The acquisition leverages Bank CMG's innovative financial solutions and growing statewide presence with Farmers Savings Bank's over century-long commitment to serving families, businesses, and communities throughout southwestern Wisconsin. The transaction strengthens Bank CMG's position as Wisconsin's leading community-focused bank and expands its reach to deliver leading-edge banking, lending, treasury management, and digital banking services to customers across Wisconsin. The acquisition closed following receipt of all required regulatory and shareholder approvals.
Founded in 1917, Farmers Savings Bank has built its reputation on serving the unique needs of customers through personalized service, reinvestment, and strong partnerships within the communities it serves. The bank's longstanding mission emphasizes customer-focused banking, integrity, innovation, continuous improvement, and teamwork - values that align with Bank CMG's customer-first philosophy.
"Today marks an exciting milestone for both organizations and the communities we serve," said Christopher M. George, Chairman of the Board of CMG Bancorp, the holding company for Bank CMG. "Farmers Savings Bank has continually earned the trust of its customers over generations by staying true to the principles of community banking. We are honored to welcome their customers, employees, and communities into the Bank CMG family. Together, we are creating a stronger community bank that combines local relationships with expanded capabilities, innovative financial solutions, and a shared commitment to helping individuals, families, and businesses thrive."
"At Bank CMG, we believe the strongest banking relationships are built locally and strengthened by a genuine commitment to the customers we serve," says Bank CMG President, Jim Hegenbarth. "Farmers Savings Bank has spent more than a century earning that trust, and we are excited to build on that legacy. As we bring our organizations together, our focus remains on delivering a seamless experience for customers while expanding access to leading-edge financial solutions, digital capabilities, and the personalized support they expect from a local bank. We look forward to growing together."
"As we prepare to join Bank CMG," Farmers Savings Bank CEO and President Matthew Staver says, "We do so with tremendous pride in the legacy we have built over the past century. Bank CMG's commitment to community banking, exceptional customer service, and investing in the communities they serve makes this a natural transition for our organization. We are deeply grateful to our customers, employees, directors, and communities for the trust and support they have given Farmers Savings Bank throughout our history. While this marks the close of one remarkable chapter, we are confident that the values and relationships that have defined Farmers Savings Bank will continue to make a positive impact for years to come as part of Bank CMG."
Customers of Farmers Savings Bank will continue to work with the bankers and teams they know and trust while accessing a broader suite of products, services, and technology solutions offered through Bank CMG. Throughout the integration process, both organizations remain committed to ensuring a seamless customer experience and maintaining the exceptional level of service customers expect and deserve.
The combined bank will continue investing in local communities through lending, charitable giving, volunteerism, and support for nonprofit organizations. Both institutions share a belief that community banks play a vital role in fostering economic growth and strengthening the communities they serve. Farmers Savings Bank's longstanding tradition of community reinvestment and Bank CMG's commitment to delivering innovative financial solutions create a solid foundation for future growth and impact.
This acquisition represents another key step in Bank CMG's strategic growth initiative as the organization continues to expand its footprint while remaining rooted in the values that define community banks and make them a cornerstone of economically vibrant communities.
About Bank CMG
Founded in 1893, Bank CMG (formerly Greenwoods State Bank) is a Wisconsin state-chartered community bank and a State Member Bank of the Federal Reserve System. For more than a century, we have served families and businesses across the state, earning trust through local decision making, reinvesting deposits in the communities we serve, and building the personal relationships only a local bank can offer. At Bank CMG, our story is one of consistency and care. We honor the history that shaped us while embracing the future with confidence. Our mission is simple: deliver a broader range of financial solutions and cutting-edge services, grounded in transparency, speed, and care, while staying true to the principles that have guided us for more than 130 years.
Media Contact: Becky Anhalt, EVP of Retail Banking; [email protected]; 920-945-2099
SOURCE: Bank CMG