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STATE BANK OF WITHEE SOLD
Thursday, July 24th, 2008 -- 11:47 am
Posted by Riley Hebert-News Director
A Clark County-based bank has been sold.
Pending regulatory approval, Marshfield Savings Bank will purchase shares of the State Bank of Withee in a transaction valued at $12-million.
State Bank of Withee has locations in Withee, Greenwood, Stanley and Thorp.
After the transaction, those locations will operate under a new name: Forward Financial Bank, A Branch of Marshfield Savings Bank.
Shareholders of State Bank of Withee will receive $96 for each share.
The transaction is expected to be complete by the end of the year.
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