Hometown Bancorp, Ltd Completes Farmers Exchange Bank Acquisition
Fond du Lac, Wis. – December 11, 2015 – Hometown Bancorp Ltd, parent company of Hometown Bank, received regulatory approval and closed on the purchase of Farmers Exchange Bank.
Hometown formally announced its intent to acquire Farmers Exchange Bank and its three branches in June of this year. With Farmers Exchange now a wholly owned subsidiary of Hometown Bancorp, both parties have begun steps to finalize the merger, which is expected to take place in February 2016.
Until then, both banks will operate as usual. Customers of Farmers Exchange Bank will see no change in how they conduct their banking activities.
Hometown is committed to making the transition seamless. “We’ll work proactively with Farmers Exchange customers and staff to ensure a smooth conversion to our systems,” said president and CEO Tim McFarlane. “Expect to hear more about the resulting product and service enhancements.”
Tony Smyrneos, Farmers Exchange Bank president, expressed his growing excitement for what this merger will mean to his bank’s customers. "More branches and technology services like mobile banking and online bill pay will deliver a new level of convenience our customers will appreciate.”
The merger will give Hometown combined assets of more than $265 million, enabling the bank to lend more local businesses the cash they need to grow, hire and thrive during the economic recovery.
Hometown Bank is a wholly owned subsidiary of Hometown Bancorp, Ltd, a privately held bank holding company, headquartered in Fond du Lac, WI. Hometown Bank operates five banking centers in Fond du Lac (2), Appleton, St. Cloud and Wautoma, WI. Visit www.HTBWI.com or call (920) 907-0788 for more information.