First State Bank Purchases Pioneer Bank
Sunday, October 13th, 2019 -- 7:46 AM
First State Bank president and CEO, Bob Van Asten, recently announced that First State Bancshares, Inc. completed the purchase of Pioneer Bancorp, Inc.Focus on Marshfield reports that the transaction closed on October 9, 2019. Pioneer Bancorp, Inc. is the parent company of Pioneer Bank. The purchase paves the way for Pioneer Bank offices to merge with First State Bank and operate under the First State Bank name starting on February 24, 2020. Until then, these offices will continue to operate as Pioneer Bank. When the merger is complete, First State Bank will have thirteen offices and total assets of approximately $450 million.
First State Bank’s current locations are in New London, Clintonville, Manawa, Waupaca, Cecil, and Rudolph. Pioneer Bank has offices in the north central Wisconsin communities of Auburndale, Greenwood, Marshfield, Rozellville, Stevens Point, Wisconsin Rapids, and Withee.
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