Monona Bank and State Bank of Cross Plains Announce Merger of Equals

FOR IMMEDIATE RELEASE
March 15, 2022

Monona Bank and State Bank of Cross Plains Announce Merger of Equals
New Organization Will Be Largest Bank Headquartered in South Central Wisconsin, 6^th Largest Headquartered in State

(MADISON, Wis.) – Monona Bankshares, Inc., the holding company of Monona Bank, and S.B.C.P. Bancorp, Inc., the holding company for State Bank of Cross Plains (“SBCP”), jointly announced today they will combine in a merger of equals to create the largest bank headquartered in Dane County, Wisconsin and the sixth largest bank headquartered in the State of Wisconsin, with almost $3 billion in combined assets.

The agreement and plan of merger was unanimously approved by the boards of directors of both companies and signed on March 14, 2022. The all-stock merger of equals is anticipated to close by the end of 2022, subject to the satisfaction of customary closing conditions, including the receipt of regulatory approvals and approval by the shareholders of each company. 

Both State Bank of Cross Plains and Monona Bank will continue to function independently until Spring 2023, when the two banks are expected to fully merge and integrate and operate under a new name and brand. At such time, the combined bank will leverage the strengths of each bank and be better positioned to offer clients expanded services, more locations, and additional knowledgeable advisors while delivering the same outstanding service that clients of both banks have grown to expect.

SBCP President & CEO Jim L. Tubbs and Monona Bank President & CEO Paul Hoffmann agree on the importance of this strategic business combination to keep the spirit and values of community banking competitive. This merger enables the resulting organization to remain independent and local, ensuring continued commitment to, support of, and investment in local businesses and communities.

Hoffmann explains, “This joint venture makes sense for many reasons, especially since both banks are locally owned and share a similar set of core values and leadership philosophies. The merger demonstrates a dedication to promoting opportunity and prosperity within our communities throughout South Central Wisconsin.”

Tubbs adds, “Both organizations believe strongly in the principles of independent community banking and want to preserve our fundamental beliefs that banking should be built on respectful and supportive relationships that encourage a local focus. When we invest in our neighbors, we enhance the entire community to be a stronger, more stable, and truly vibrant place to live and work.”

Once the merger is complete and the two banks fully integrate in Spring 2023, the yet-to-be-named community bank will employ more than 400 associates across 17 communities around Madison and throughout South Central Wisconsin. 

Hunton Andrews Kurth LLP acted as legal advisor and The Bank Advisory Group acted as financial advisor to S.B.C.P. Bancorp, Inc.  Reinhart Boerner Van Deuren S.C. acted as legal advisor and Piper Sandler & Co. acted as financial advisor to Monona Bankshares, Inc.

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About Monona Bank (mononabank.com)

Monona Bank is a locally owned and managed bank that believes “together, we prosper.” Founded in 1991, the bank is committed to making our communities great places to live, work and raise a family.

About State Bank of Cross Plains (sbcp.bank)

Locally owned and managed, State Bank of Cross Plains opened its doors in 1908 with a singular goal in mind: to help people in our communities turn their financial dreams into reality.

Cautionary Statement Regarding Forward-Looking Statements

The statements in this press release are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements.  Following the date of this press release, S.B.C.P. Bancorp, Inc. and Monona Bankshares, Inc. each undertake no obligation to revise or update any forward-looking statements for any reason, except as required by law.

Data is sourced from the most recently published FDIC  quarterly reports

Contacts:

Jim L. Tubbs
S.B.C.P. Bancorp, Inc.
608-798-3961

Paul Hoffmann
Monona Bankshares, Inc.
608-223-2183

Lean Focus & Pop-Dot Announce Far-Reaching Strategic Partnership

Alliance Between the Two Madison, Wisconsin-Based Firms Will Impact Mutual Clients Both Nationally and Worldwide

MADISON, Wisc., March 1, 2022 — Madison-based firms Lean Focus and Pop-Dot have jointly announced a strategic partnership that will impact businesses far beyond the boundaries of the city and state. According to the announcement, the fast-growing business consultancy, along with the highly-awarded marketing agency, have already begun working in tandem with companies and corporations throughout the U.S., with an eye on joining forces to serve one another’s international clientele in the near future.

“Over the past several years, Pop-Dot has been instrumental in the growth of Lean Focus itself,” said Damon Baker, CEO of Lean Focus. “And in that time, I’ve also seen Pop-Dot deliver brand and marketing services that have transformed their other clients’ businesses. As we at Lean Focus are committed to ‘Transforming Businesses for Good’, this strategic partnership just makes sense.”

Baker, who recently surpassed 100,000 followers on LinkedIn, points to the measurable successes he’s seen in his own business as a result of the alliance. These include: triple-digit revenue growth for Lean Focus year-over-year, 50% uptick in web traffic, over 10,000 newsletter followers gained, among many other notable increases. In 2021, he received the Startup Company Executive of the Year Award from In Business magazine.

“Business transformation, plus brand-and-marketing transformation, equals bottom-line success,” said Kate Ewings, Senior Director at Pop-Dot. “The combination of Lean Focus’ proprietary system and approach to business, delivered to the market and amplified through Pop-Dot’s strategic and creative efforts, is a potent combination. This is what our mutual clients are also now benefiting from.”

Lean Focus utilizes the Lean Focus Business System™ to help companies “build high-performance cultures that achieve sustained, profitable growth.” Their clients have included household names such as GE, Electrolux, Honeywell, and Pampered Chef. They serve clients internationally.

Also based in downtown Madison, Pop-Dot is a full-service marketing agency that describes itself as “compelling and collaborative.” The firm delivers results through branding, marketing planning, traditional advertising, digital marketing, website design and development, public relations, and more. Their clients have included Johnsonville, Yelp, Glue Dots International, Colony Brands, Nonn’s, among 100+ other local, national, and international brands.

Media Contact:
Kate Ewings
media@popdot.agency
+1 608.571.0771

leanfocus.com

popdotmarketing.com

Summit Credit Union to acquire Commerce State Bank in West Bend

First bank purchase historic for growing credit union

FOR IMMEDIATE RELEASE

Media Contact:
Kim Sponem, CEO & President, Summit Credit Union
(952) 356-5080                                                                    

Joe Fazio, CEO, Commerce State Bank
(262) 247-2802

MADISON, Wis.(March 3, 2022)—Summit Credit Union and Commerce State Bank jointly announced a partnership today that includes Summit’s acquisition of substantially all of the assets and liabilities of Commerce State Bank.

The definitive agreement was unanimously approved by both boards of directors and is pending shareholder and regulatory approval. The transaction is expected to close in the third quarter of 2022. The combined company will have assets approaching $6 billion and will have 54 locations. 

The move for Summit Credit Union, a Madison-based financial cooperative and the second-largest credit union in Wisconsin, is historic because Commerce is the first bank it will acquire. Kim Sponem, CEO & President of Summit Credit Union, will remain the CEO of the combined organization.

“Commerce State Bank is an exceptionally well-run institution and has experienced tremendous success,” said Sponem. “We have similar values, cultures, and dedication to the highest levels of member and community service. This is a terrific strategic fit. Commerce State Bank’s stellar commercial lending portfolio adds to our strengths in mortgage and small business lending, as well as helping people with their everyday financial needs.”

“Growth and expansion are important because it provides the opportunity to positively impact more people’s financial well-being,” said Dave Reszel, Summit Board Chairperson. “We look forward to bringing our award-winning financial wellness programs to new communities in Wisconsin.”

Summit Credit Union is Wisconsin’s No. 1 Mortgage Lender and the largest credit union lender of SBA loans to small businesses in Wisconsin for 10 years.

“When we opened Commerce State Bank nearly 17 years ago, we focused all efforts on serving our four core constituencies: clients, employees, communities and shareholders. Combining with Summit Credit Union significantly benefits each of them,” Commerce State Bank Chief Executive Officer Joe Fazio said in a statement. “This transaction is about growing to serve current clients, expanding to new communities, rewarding our shareholders, and providing career opportunities for employees of the combined company.”

“Summit Credit Union has a long history and reputation for providing excellent client service. Commerce State Bank prides itself on that as well,” Jack Enea, Chairman of Commerce Financial Holdings, said in a statement. “We are going to leverage the combined strengths of Commerce and Summit Credit Union, with our people and relationship-focused attitudes, to accelerate the growth of the combined companies.”

Both the bank and credit union have won Top Workplaces awards in recent years. Commerce employees will remain part of the combined organization. 

Summit Credit Union was advised on the transaction by Dan Martin of McQueen Financial Advisors and Mike Bell of Honigman, LLP.  Commerce State Bank was advised on the transaction by Hillworth, LLC and Reinhart Boerner Van Deuren, s.c.

About Summit Credit Union: Established in 1935, Summit Credit Union is a member-owned financial cooperative. Summit is the 2nd largest credit union in Wisconsin and holds $4.8 billion in assets and has more than 225,000 members and 754 employees across 50 locations throughout south-central and southeastern Wisconsin. Kim Sponem has been CEO & President of Summit Credit Union, and its predecessor organization, CUNA Credit Union/Great Wisconsin Credit Union, since 2002. Recognized for its excellence in employee engagement, Summit was named a Top Workplace in the USA in 2021 by Top Workplaces USA and a Top Workplace in the Madison area for 2020 and 2021 by the Wisconsin State Journal.

For more information, visit www.summitcreditunion.com or call 608-243-5000 or 800-236-5560.  For additional media information, visit https://www.summitcreditunion.com/about-summit/press-room or follow Summit on Facebook, Instagram and Twitter.

About Commerce State Bank: Opened in August 2005, Commerce State Bank is a full-service, state-chartered bank headquartered in West Bend, Wi., with additional offices in Cedarburg, Elm Grove and Sheboygan. The bank has assets of $835 million, making it the 32^nd largest bank in Wisconsin.   

NGL partners with Hip Hop Architecture Camp for one-of-a-kind display

Partnership creates custom artwork installation focused on diversity

Madison, WI (February 8, 2022) – With the majority of its employees working remote for nearly two years, National Guardian Life Insurance Company (NGL) used the opportunity to refresh its 58-year-old headquarters, located blocks from the capitol. In 2020 NGL approached Michael Ford, an award-winning, licensed architect and owner of BrandNu Design, a multidisciplinary design firm focused on architecture, fashion, and education with an opportunity to partner on a custom artwork installation for its remodeled lobby.

“We aligned on the most prominent space at the main entrance in our lobby for Michael to develop a concept using NGL’s diversity, equity and inclusion pledge. Michael took our commitment to DEI and incorporated his design process which converts lyrics into textiles,” said Dwayne Maddox, Assistant Vice President, Marketing & Inclusion Experience at NGL.

Ford, known as The Hip Hop Architect, designed a one-of-a-kind two-story stone piece that embodies NGL’s commitment to diversity, equity and inclusion as an integral part of its mission, vision and values.

“This project is important to me because it is the first built project which incorporates my process for mathematically deconstructing words and reconstructing those sonic experiences into something physically tangible such as textiles. On a bigger scale, this project is important because of the fact it’s a statement about diversity and inclusion,” said Ford.

NGL’s DEI statement: “Valuing diversity of thought, background and beliefs are key to living our cultural values of integrity, dependability, collaboration, compassion, and growth. It’s vital to our promise of helping customers face life’s challenges with confidence, dignity and grace. We strive to create an environment free of racism, discrimination, and intolerance – fostering equal opportunities and promoting belonging and inclusion.”

The Text[Tile] wall takes NGL’s words and literally cast them in stone. Ford describes the project as modern-day hieroglyphics. Ford started by deconstructing the statement letter by letter, using a process he created which converts music lyrics into architecture based on syllable counts, rhyme schemes, and other mathematical information which can be extracted from text. The reconstructed statement is made letter by letter and word by word as a series of stone tiles representing each letter in the text. Hence the project name, Text[Tiles].

“When we started transforming our office building, we knew our lobby should serve as a community space. Our goal was to create a modern, welcoming environment where everyone felt comfortable and a sense of belonging. Michael Ford’s artwork visually showcases NGL’s commitment to supporting DEI initiatives in our workplace, community and the insurance industry. The artwork is intentionally placed in the lobby because that’s where it can be the most impactful and appreciated by employees and the community,” said Knut Olson, NGL President & CEO.

NGL and Ford view the project’s value as adding to the Madison community and beyond. “The value of this project goes beyond the physical installation. This collaboration allows for me, a Black architect in Madison to display a unique approach to design while also celebrating other Black architects throughout the state,” said Ford. “Currently, less than two percent of licensed architects are Black. In Wisconsin, there are a total of 12 licensed Black architects. This project will allow the Madison community, which is seeing significant growth and building to discover the Black architects and assist organizations in acting on some of the diversity and inclusion statements and statements of solidarity made throughout these past few years.”

“Connecting and collaborating have been a priority for NGL throughout our 113-year history. During the last couple of years, we’ve been on a journey to reexamine, enhance and incorporate our DEI initiatives into our corporate culture. At NGL we believe it is our obligation and duty to ensure everyone feels a sense of belonging, respect and equitable treatment. We want each of our employees to bring their full, authentic selves to work each day. Our goal is to make everyone feel comfortable, accepted and valued for their unique life experiences and viewpoints,” said Jessica Grann, Vice President, Chief Culture and Communications Officer.

NGL anticipates the installation to be completed by its May 2022 building reopening.

About NGL

Established in 1909 National Guardian Life Insurance Company (NGL) is an insurance company headquartered in Madison, Wis. Licensed to do business in 49 states and the District of Columbia, NGL markets preneed and individual life and annuities, as well as group markets products. Information about NGL can be found at www.nglic.com; Facebook: Facebook.com/NGLIC and LinkedIn: https://www.linkedin.com/company/national-guardian-life-insurance-company.

National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a/k/a The Guardian or Guardian Life.

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Barry Ray and Bryan Cook of Legacy Senior Living Excited to Open Renaissance Senior Living of Hilldale in Madison

Legacy Senior Living is committed to serving seniors with honor, respect, faith and integrity.

MADISON, Wis. (January 7, 2022) –  Barry Ray and Bryan Cook, industry veterans and founders of the Cleveland, TN-based Legacy Senior Living family of assisted living and memory care communities, are leading in the redevelopment and opening of Renaissance Senior Living of Hilldale. The totally redesigned and remodeled senior living facility across from Hilldale Shopping Center is scheduled to open in the first quarter of 2022.

Empowered by their mission to make each senior’s golden years the best of their lives, Ray and Cook have been committed since founding Legacy in 2006 to providing exceptional senior living communities where residents can live each day full of purpose, experience meaningful connection and embrace their personal stories with others. Now, they are excited to share this “Life, Love, Legacy” lifestyle with Madison-area seniors.

“Since forming our management company, Legacy Senior Living, we have been fortunate to expand our footprint and serve seniors and their families throughout the eastern portion of the United States. It is now an honor to be able to serve the incredible people of Madison, and our entire Renaissance Senior of Living of Hilldale team is counting down the days until we welcome our first residents to their new home,” Ray said.

Ray and Cook collectively have over 60 years of senior living experience and feel what they get to do every day in serving seniors and their families is truly a calling.

Ray joined the senior living profession in 1988 and has been able to serve in key leadership roles during his career. Initially working for a large national provider, he served in various capacities, including director of facility accounting, director of asset management, vice president of assisted living development, vice president of finance and then as president of a subsidiary that operated 40 retirement facilities in 28 states.

Cook is also a veteran of the senior housing and long-term care industry. He entered the profession in 1992 and has served continuously in the industry for the entirety of his career. He began as a skilled nursing facility administrator and progressively grew to responsibility for 63 nursing facilities as a division vice president. Additionally, he was involved as vice-president of a startup assisted living company that grew to nearly 20 assisted living communities across the U.S. He is a Certified Administrator with the American College of Health Care Administrators.

“I joined the Legacy family late in 2021, and over the short period of time that I have been working with this exceptional organization, both Bryan and Barry have been deeply invested in helping prepare Renaissance Senior Living of Hilldale and our entire team to be a huge success. I am grateful to have their support, and I know our residents are going to love getting to know them,” Kim Kay, Executive Director of Renaissance Senior Living of Hilldale, said.

Seniors interested in being the first to experience all the exciting amenities at Renaissance Senior Living of Hilldale are encouraged to quickly join its Founders Club, which provides a variety of perks for its members.

“Barry and I are eagerly waiting for our newest residents to move into this wonderful community. Currently, Renaissance Senior Living of Hilldale is nearing the end of a multi-million-dollar renovation. Once work is complete, it is going to be a state-of-the-art, gorgeous facility that we know seniors and their families are going to love. Thank you, Dane County, for the wonderful welcome. It is an honor to serve you, and we look forward to providing you with exceptional care for years to come,” Cook said.

For more information about The Harbor, to schedule a tour of Renaissance Senior Living of Hilldale or to join the Founders Club, call (608) 949-7550 or visit the community’s website, RenaissanceHilldale.net.

About Renaissance Senior Living of Hilldale 

Renaissance Senior Living of Hilldale is an 85,000-square-foot premier assisted living and memory care facility opening in Madison, WI, in early 2022. Located at 602 Segoe Road, the community encompasses 10 stories featuring 92 well-appointed units, of which 64 will be designated for assisted living and 28 for memory care. Residents will have access to luxurious amenities including underground parking, a full-service bistro, state-of-the-art Badger and Packer media rooms and the 10th Floor Madison View Room, which will overlook picturesque views of the State Capitol and Lake Mendota. 

More information is available by calling (608) 949-7550 or by visiting renaissancehilldale.net. 

Renaissance Senior Living of Hilldale is part of a family of senior living communities throughout the eastern United States owned and/or operated by Legacy Senior Living of Cleveland, Tenn. Legacy Senior Living specializes in offering independent living, assisted living, and specialized memory care services. More information is available at legacysl.net.