Hometown Bancorp Ltd., parent company of Hometown Bank, has entered into an agreement to acquire United Community Bank, located in south-central Wisconsin. The Poynette and Harmony Grove locations will be included in the acquisition.
Pending regulatory approval and customary closing conditions, the transaction is expected to close fourth quarter of 2018. United Community Bank, with total assets of $180 million and four locations in Poynette, Cambridge, Pardeeville and Harmony Grove, is expected to merge with Hometown Bank in early 2019.
“I have had the opportunity to get to know the Hometown team and believe this transaction is a good move for our customers and the communities we serve,” said United Community Bank CEO Jason Brown. “The Hometown team is a great group of talented people who have demonstrated the same commitment to personalized service and community support that we do.”
“We look forward to working with the United Community Bank team and customers. Our two organizations believe strongly in being an active part of the communities we serve. We also align on our desire to provide stellar customer service,” said Hometown Bank CEO Tim McFarlane.
With combined assets of $500 million and 11 locations, the merger will provide United Community Bank and Hometown Bank customers sustainability and capacity for additional services and continued technology enhancements.
“Our goal is to make this transition as seamless as possible for customers, and our combined team will work every step of the way to ensure our new United Community Bank customers feel the same warm welcome and great customer service they have come to expect,” McFarlane said.