Time Federal Savings completes acquisition
For the City Times
MEDFORD – Time Federal Savings Bank has completed its acquisition of River Cities Bancshares, Inc. and River Cities Bank.
“With the merger, we are able to grow and evolve to really impact our customers and communities,” said Time Federal President Bill Weiland. “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.”
The partnership will increase the bank’s asset size from $586 million to over $800 million, as well as expanding to nine locations serving North and Central Wisconsin.
A new name and brand will be revealed in January 2020 and take effect on Feb. 24.
The bank asks their customers to continue to work with their existing locations and technology services until all of the internal systems will be 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.