Time Federal completes acquisition of River Cities Bank
Time Federal Savings Bank has completed its acquisition of River Cities Bancshares, and River Cities Bank as of November 1.
“With the merger, we are able to grow and evolve to really impact our customers and communities. We are making positive changes and creating new opportunities to ensure our continued strength for generations to come by adding more mortgage options and offering business loans and deposit options at all of our locations,” states Bill Weiland, president of Time Federal Savings Bank.
This partnership offers many benefi ts, including increasing the bank’s asset size from $586 million to over $800 million, as well as expanding to nine locations serving north and central Wisconsin. Through the acquisition, Time Federal Savings Bank is enhancing its opportunity to work with local businesses for their deposit and loan needs. To reflect the new bank’s opportunities and products, a new name and brand will be revealed in January 2020 and take effect on February 24, 2020.
Until February 24, 2020, the bank asks all their customers to continue to work with their existing locations and technology services until all of the internal systems are brought together. They will continue communicating with customers throughout this process using multiple forms of communication including their websites.
Time Federal Savings Bank is a federally chartered savings bank founded in 1934 with offices in Baraboo, Eau Claire, Marshfield, Medford, Owen, Phillips, Stevens Point, Wausau and Wisconsin Rapids.