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.

Neckerman Insurance Services is now McClone Insurance

For inquiries, please contact:

Sarah Munson
McClone Insurance
920.886.3422
sarah.munson@mcclone.com

Neckerman Insurance Services is now McClone Insurance
Agency joined McClone on December 31, 2021

MENASHA, Wis.—Jan. 4, 2022 – McClone Insurance, a Wisconsin-based, leading insurance broker, and Neckerman Insurance Services, one of the longest standing independent insurance agencies in Madison, Wisconsin, have partnered to expand services and resources to businesses, individuals and families in Wisconsin.

“The Neckerman legacy is one of committed professionals, an incredible culture and a passion for protecting businesses and families,” says Dustin McClone, President and CEO.“ At McClone, we hold these things true and are committed to building upon that legacy.”

“By joining McClone, we will continue our tradition of excellence,” says Doug Dittmann, President of Neckerman. “We hold a lot of the same values and now have expanded tools, resources and services for clients,” Dittmann adds. “We are honored to partner with McClone as we continue to contribute to Madison’s future success.”

About McClone Insurance 

Founded in 1949, McClone is one of Wisconsin’s largest independent insurance brokers, offering comprehensive services in risk management, business insurance, employee benefits, HR outsourcing and 401k programs. McClone is headquartered in Menasha, Wis., with additional regional offices in Fond du Lac, Green Lake, Madison, Milwaukee and Sheboygan. For more information, visit mcclone.com.

About Neckerman Insurance Services

Neckerman Insurance Services is a long-standing and respected independent insurance agency in Madison, Wisconsin providing business, personal, life and disability insurance to individuals, families and businesses. Founded in 1914, Neckerman believes in high ethical standards and giving back to the community.

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Vogel Bros. Building Co.: $200 to $250 million Arrowhead Pharmaceutical, Inc. Verona Greenfield Campus Investment

VERONA, WI and PASADENA, CA – “This investment reaffirms our commitment to the Wisconsin biotech ecosystem, and we would like to thank the local agencies, who have been a pleasure to work with,” said Christopher Anzalone, Ph.D., Arrowhead’s President and CEO.

Major milestones are being achieved to create Arrowhead Pharmaceuticals, Inc. new 13 acres Campus in the Verona Technology Park in Verona, WI. Arrowhead announced the completion of the land purchase transaction yesterday, December 20, 2021. Groundbreaking will occur in the first quarter of 2022.

Vogel Bros. Building Co. is excited about the partnership with Arrowhead to complete the planning, and construction for an approximately 140,000 square foot drug manufacturing facility and an approximately 115,000 square foot laboratory and office facility to support process development and analytical activities. “We are honored to collaborate with the team to bring Arrowhead’s vision for their TRiM™-enabled drug candidate pipeline from development to potential commercialization within these new facilities,” said Peter Vogel, President and CEO, Vogel Bros.

Read more here