Lake Ridge Bank Begins Operation as of February 13

Contacts:
Jim L. Tubbs
CEO
Lake Ridge Bank
608-798-3961

Paul Hoffmann
President
Lake Ridge Bank
608-223-2183

Lake Ridge Bank Begins Operation as of February 13
Merger of Equals Creates 7^th Largest Bank in Wisconsin 

(MADISON, Wis.) – On February 13, two of the largest independent community banks in South Central Wisconsin officially complete their merger to become Lake Ridge Bank. As of today, all Monona Bank and State Bank of Cross Plains locations begin operating under the new name. 

Lake Ridge Bank is now the seventh largest bank headquartered in the State of Wisconsin, with 23 branch locations and nearly 400 associates serving almost 40,000 households across 17 communities. The goal was to create a bank with resources and services that compete with regional or national institutions but still maintains the local focus, mission, and philosophy of a community bank. 

The new name is meant to reinforce the bank’s focus and priorities. With a nod to local geography, Lake Ridge Bank wants to help shape the communities within the bank’s service area in the same way the glaciers shaped the region’s lakes and landscape. 

With more than 95 percent of the bank’s 1,400+ shareholders living in Wisconsin – most within Dane and Rock counties – Lake Ridge Bank is both widely held and locally owned. Combining for total assets approaching $3 billion, Lake Ridge Bank is well-positioned to fulfill its commitment to support and invest in our local area. 

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For additional information, please contact Mark Schellpfeffer at mschellpfeffer@lakeridge.bank.  

M3 Insurance Announces Strategic Partnership with The Employer Group

M3 Insurance (M3) announces the formation of a strategic partnership with The Employer Group (TEG), a human resources solutions company based in Verona, Wisconsin. In this partnership, TEG will function as a wholly-owned subsidiary of M3 and will continue to offer customized solutions to organizations of all sizes and industries, ranging from serving as a PEO (Professional Employer Organization) to providing full payroll services and a wide array of human resources administration and consulting.  

Effective January 1, 2023, Angie Heim, previous owner and president, will continue with TEG as a senior executive as part of the succession plan she created to ensure TEG continues to thrive into the future. Heim purchased TEG in 2007.

We’re thrilled to be able to operate independently while continuing to provide outstanding service to our clients. We couldn’t be more proud of the exceptional services, remarkable team, and stellar reputation we’ve built over the past 15 years.

— Angie Heim
Senior Executive | The Employer Group

Also effective January 1, 2023, Luke Anderson, current TEG vice president since 2019, will serve as president of TEG. In this role, Luke will oversee the management team, lead key initiatives, and work with M3 leadership to focus on TEG’s overall success.

Anderson’s role has evolved since he started with TEG in 2009, from payroll specialist to payroll manager, and most recently to vice president. His precise focus on quality payroll and HR services, along with his excellent client acumen and leadership skills will not only benefit TEG’s staff but also its clients and our community.

This partnership fits strategically with our desire to offer our clients a broad and extensive array of HR consulting support. M3 is committed to advising and supporting clients as they navigate complex and evolving topics, and we couldn’t be more excited to provide them such a high level of expertise and service through TEG.

— Mike Victorson
CEO | M3 Insurance

About The Employer Group

Since 1995, The Employer Group has provided expert human resources solutions to organizations of all sizes and across a number of industries. As The Human Resource Resource™, we specialize in all things payroll and HR-related, from providing direct deposits and preparing payroll tax forms to conducting HR assessments and creating employee handbooks. We’re also a registered PEO, which gives us the opportunity to provide a comprehensive level of service to our clients.

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About M3 Insurance

M3 is a top insurance broker and risk management firm in America. We’re leaders in the products we represent and the industries we serve. M3’s people are an extension of your team, providing world-class resources to help you manage risk, purchase insurance, and provide employee benefits. And our focus on community builds better places to live and work.

Riley Construction breaks ground on two commercial properties in Madison

Kenosha-based Riley Construction recently expanded into the Madison market with two new high-profile projects: Madison Industrial Campus, 6002 Femrite Drive, and Tradesman Commerce Park, 5525 Tradesman Drive.

Phase one of the Madison Industrial Campus is a 169,000-square-foot industrial building that will be developed in partnership with HSA Commercial Real Estate. The project includes site work for the campus and construction of a state-of-the-art 32-foot clear Class A industrial building with ESFR sprinkler protection.

Read more at In Business magazine

Dave Jones, Inc. Announces Ribbon-Cutting of New Training and Development Center

Madison, WI, December 9, 2022: Dave Jones, Inc. is excited to announce the ribbon-cutting ceremony on their new Training & Development Center with the Greater Madison Chamber of Commerce.

Monday, December 12, 2022
2:30 PM
2101 Industrial Drive
Monona, WI 53713

Inspired by our core value of “forward-thinking,” the training facility will provide classroom-style and hands-on learning to the DJI team in Plumbing, HVAC, Fire Protection, and Electrical service and installation. But we felt that this was also an opportunity to give back (another core value) and are working with local schools and community groups to visit and use the facility to educate and expose their groups to the role that the trades play in today’s world and the lucrative, stable career path it can provide.

This facility is the latest addition to a growing Dave Jones, Inc. campus in Monona that includes a Team Headquarters building, a Service Team building, and a Fleet and Facilities Team building.

About Dave Jones Inc: Headquartered in Monona, WI, Dave Jones is a full-service mechanical sub-contractor, providing plumbing, heating, cooling, fire protection, and electrical installations and service in both residential and commercial settings. Recognized as an industry leader, DJI prides itself on its thorough and growing training program, strong core values, excellent benefits, and great company culture. Under the leadership of second-generation owners Greg Jones and Holly (Jones) Kellesvig, DJI has expanded to include businesses in Indianapolis, IN and Columbus, OH.  DJI employs over 625 people throughout these markets and has won awards for ethics, excellence, and customer service.

For more information, please contact:
Laura Steinhoff – Marketing Manager, Dave Jones, Inc.
Email: lsteinhoff@davejonesinc.com Direct Phone: (608) 709-1463
www.davejonesinc.com

Introducing Lake Ridge Bancorp, Inc.

FOR IMMEDIATE RELEASE
October 3, 2022

Introducing Lake Ridge Bancorp, Inc.
S.B.C.P. Bancorp, Inc., and Monona Bankshares, Inc. Complete Merger of Equals Transaction

(MADISON, Wis.) – S.B.C.P. Bancorp, Inc. (“SBCP”), the parent bank holding company for State Bank of Cross Plains, and Monona Bankshares, Inc. (“Monona”), the parent bank holding company for Monona Bank, jointly announced today the successful completion of the all-stock merger of equals transaction between SBCP and Monona. The merged bank holding company has been renamed Lake Ridge Bancorp, Inc. (“Lake Ridge”).

Monona Bank and State Bank of Cross Plains will continue to operate as separate banks until the core processing systems are converted in February 2023. After the conversions, the combined bank will be named Lake Ridge Bank and will be the largest community bank headquartered in Dane County, and the eighth largest bank headquartered in the State of Wisconsin, with almost $3 billion in combined assets. The combined bank will have an expanded footprint of 22 branch locations and employ more than 400 associates across 16 communities throughout South Central Wisconsin. With more than 90% of our approximately 1,400 shareholders living in Wisconsin, Lake Ridge is proud to be both widely held and locally owned.

“Lake Ridge brings together two community banks with combined strengths and capabilities that make us uniquely equipped to support our clients in Wisconsin,” said Jim Tubbs, Chief Executive Officer of Lake Ridge. “As we move forward together, Lake Ridge will continue our shared focus on providing quality service, supporting our associates, investing in our communities, and maximizing our financial and operational strength to create long-term value for our customers and shareholders.”

Paul Hoffmann, President of Lake Ridge shared, “This strategic merger of equals made sense for many reasons, especially since both banks are locally owned and share a similar set of core values and leadership philosophies. Our new bank demonstrates a continued dedication to promoting opportunity and prosperity within our communities throughout South Central Wisconsin.”  Paul added, “When we invest in our neighbors, we help our communities to be stronger, more stable, and truly vibrant places to live and work.”

Lake Ridge’s board of directors consists of 14 members with seven directors from SBCP and seven directors from Monona, as well as a joint executive management team.

Hunton Andrews Kurth LLP acted as legal advisor and The Bank Advisory Group acted as financial advisor to SBCP.  Reinhart Boerner Van Deuren S.C. acted as legal advisor and Piper Sandler & Co. acted as financial advisor to Monona.

About State Bank of Cross Plains and Monona Bank

Founded in 1908, State Bank of Cross Plains, SBCP’s banking subsidiary, operates from 13 locations in Dane, Green and Rock counties in Wisconsin. As of June 30, 2022, State Bank of Cross Plains had approximately $1.6 billion in total assets, $1.44 billion in total liabilities, and $158 million in total shareholders’ equity.

Founded in 1991, Monona Bank, Monona’s banking subsidiary, operates from nine locations in Dane and Sauk counties in Wisconsin. As of June 30, 2022, Monona Bank had approximately $1.2 billion in total assets, $1.1 billion in total liabilities, and $121 million in total shareholders’ equity.

About Lake Ridge Bancorp, Inc.

Lake Ridge Bancorp, Inc., through its banking subsidiaries, State Bank of Cross Plains and Monona Bank (and after the bank merger, through its banking subsidiary, Lake Ridge Bank), offers a full range of business and personal financial services, including business, real estate, agricultural, and consumer lending; crop insurance; wealth management; and financial advisory services. For more information visit: www.sbcp.bank/lrbancorp

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Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements, including, but not limited to, statements regarding the business of Lake Ridge Bancorp, Inc., and other matters. Any statements about our expectations, beliefs, plans, predictions, protections, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking statements. Forward-looking statements are typically, but not exclusively, identified by the use of forward-looking terminology such as “believes,” “expects,” “could,” “may,” “will,” “should,” “seeks,” “likely,” “intends” “plans,” “pro forma,” “projects,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements are subject to risks and uncertainties and are not guarantees of future performance and actual results may differ materially from those expressed or contemplated by the particular forward-looking statement, and, therefore, you are cautioned not to place undue reliance on such statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.

CONTACTS:

Jim L. Tubbs
CEO, Lake Ridge Bancorp, Inc.
608-798-3961

Paul Hoffmann
President, Lake Ridge Bancorp, Inc.
608-223-2183