Baylake Bank’s acquisition of the Appleton branch facility and other fixed assets along with deposit relationships from Community Bank & Trust’s (CB&T) was closed Friday.
Robert Cera, Baylake Corp. and Baylake Bank president and chief executive officer, and Anthony L. Jovanovich, CB&T CEO, executed the branch purchase and sale agreement.
Baylake Bank is headquartered in Sturgeon Bay, Wisconsin and currently operates 20 banking offices located in four Wisconsin counties. The bank is one of the 10 largest publicly traded banks in the state of Wisconsin. The office being acquired in Appleton is Baylake’s second office located in Outagamie County and opened Monday at 333 S. Nicolet Road.
“We wish to welcome the customers of Community Bank & Trust and thank them for their continued confidence during this conversion,” Cera said. “Our expansion into the heart of the Fox Valley region supports Baylake’s strategy to build our presence in key, contiguous markets. We look forward to continuing the fine service and capabilities that Community Bank & Trust has established in this area.”
“Certainly we have enjoyed the relationships built through our presence in the Fox Cities market,” Jovanovich said. “We look forward to servicing our loan clientele through our Chilton office, and are confident that our deposit customers will be treated well by Baylake in the future.”
Community Bank & Trust, a wholly owned subsidiary of Community Banc-Corp. of Sheboygan Inc., has $530 million in total assets, and continues to serves individuals and businesses from 10 community financial centers throughout Sheboygan, Calumet, Outagamie, and Milwaukee counties.