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

511 Volunteer Hours Donated in WI and Quad Cities by Old National Bank Staff in Service Event

Madison, WI. (October 3, 2022) — Old National Bank celebrated its first Better Together Volunteer Days of service on September 28^th and 29^th. The two-day event provided staff across Old National’s seven-state footprint the opportunity to volunteer together in the communities where they live and work. 

Team members throughout our markets partnered with community organizations to serve food security organizations, seniors, community centers and more.

There were virtual volunteer opportunities for those who could not participate in person. During the two days, 52% of employees from Wisconsin and the Quad Cities volunteered 511 hours with 10 non-profit organizations. Company-wide, 1,572 Old National team members were able to help 110 organizations, by volunteering 5,311 hours in seven states. 

“As Old National grows geographically, serving in our communities really keeps us grounded in terms of our mission as a community bank,” said Kathy Schoettlin, Chief Brand & Culture Officer. “We’re excited for this opportunity to help strengthen our communities through volunteerism, and we’re proud of our team members for making service a real part of our company culture.”

Click here to access professional-quality, high resolution (300 dpi) photos, sorted by community. You may use any photo without attribution. If you would like more information/context about a specific photo, please contact Kate Miller at kate.miller@oldnational.com.

ABOUT OLD NATIONAL

Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, is the sixth largest commercial bank headquartered in the Midwest. With approximately $46 billion of assets and $28 billion of assets under management, Old National ranks among the top 35 banking companies based in the U.S. and has been recognized as a World’s Most Ethical Company by the Ethisphere Institute for eleven consecutive years.  Since its founding in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients and in the communities it serves. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investment, and capital market services. For more information and financial data, please visit Investor Relations at oldnational.com.

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One City Schools Named a Quarterfinalist for $1 Million Yass Prize

Awarded to Organizations Focused on Transforming Education

We are very excited to share that today One City Schools was named a quarterfinalist for the $1 million Yass Prize for Sustainable, Transformational, Outstanding and Permissionless Education (STOP).

The award highlights education providers that strive to offer education that is Sustainable, Transformational, Outstanding and Permissionless (STOP). In conjunction with the $1 million Yass Prize, the STOP Awards initiative will distribute over $10 million to honor the remaining education innovators, providers, and entrepreneurs through the course of the competition.

Today’s announcement took place at the Forbes Under 30 Summit in Detroit, Michigan, and was broadcast live on Twitter. As a quarterfinalist, One City will receive a $100,000 grant investment to support the advancement of innovations we are implementing in our public charter schools. Semi-finalists will be announced in New York City on October 13, 2022.

To review the national press release about The Yass Prize, click here.

To learn more about The Yass Prize, click here.

For more information, please contact Gail Wiseman, One City’s VP of External Relations, at gwiseman@onecityschools.org or (608) 531-2128.

Brittany Kenzel Joins EXIT Realty HGM in Madison

FOR IMMEDIATE RELEASE

Contact:
Susan Harrison
Senior Vice President
EXIT Realty Corp. International
sharrison@exitrealty.com
888-668-3948

Brittany Kenzel Joins EXIT Realty HGM in Madison

Madison, WI (Grassroots Newswire) October 3, 2022 – EXIT Realty HGM is pleased to announce that Brittany Kenzel has joined its growing team of dedicated real estate sales professionals.

EXIT Realty HGM, located at 4211 W. Beltline Hwy, Madison, Wisconsin is a proud member of EXIT Realty Upper Midwest’s rapidly expanding network of independently owned and operated brokerages across the region.

About EXIT Realty: EXIT Realty is a company founded and built on human potential. A full service, forward-thinking, real estate franchisor with offices across North America, EXIT has to-date paid out more than a half a billion dollars in single-level residual income to its associates. A portion of every transaction fee received by EXIT Realty Corp. International is applied to its charitable fund, and to-date, $7 million has been allocated to charity. For more information, please visit www.exitrealty.com and www.joinexitrealty.com.

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Cap Times Power Breakfast welcomes Aaron P. Jagdfeld of Generac Power Systems

The Cap Times has established itself as a leader in presenting high-powered events that educate and entertain the Madison and Dane County markets. We’re proud to announce our newest entry: Cap Times Power Breakfast. This quarterly series, sponsored by UBS, will feature one-on-one, future-focused conversations with Wisconsin’s top CEOs discussing business in our state.

This series is targeted for those who run a business (or aspire to), or those interested in understanding how major CEOs think. It all begins with the first Power Breakfast on Oct. 12 at the Grand Ballroom at The Edgewater Hotel. For each event, doors will open at 7 a.m. with time to enjoy coffee and network. The conversations themselves will run for one hour, starting at 8 a.m. 

Admission is $35 for a single ticket that includes a full breakfast, or $250 for a table of eight. Cap Times members will receive an exclusive discount on their tickets.

The moderator for these ongoing sessions will be Mark Richardson, president of Unfinished Business Consulting and CEO of GigBlender. Mark has spent the past 10 years helping professionals transition in their careers and organizations attract and acquire talent of color.

We are proud to announce our first speaker Aaron P. Jagdfeld, who has served as president and CEO of Generac Power Systems since September 2008 and as a director since November 2006. Aaron also has served as chairman since February 2016.

Register for this event here.

Learn more about this event here.

Venue Information

Grand Ballroom at The Edgewater Hotel
1001 Wisconsin Place
Madison, WI 53703