NEW GLARUS — The Bank of New Glarus will purchase First National Bank at Darlington, it was announced Aug. 2. The acquisition will join two community banks with a combined 217 years of servicing customers across Green, Lafayette and Dane counties.

“We are extremely proud to be acquiring First National Bank at Darlington,” said Ron Schaaf, President and CEO of The Bank of New Glarus. “There are many similarities between the banks and this connection will allow us to provide an even greater level of products and services across our local communities.

Amy Smith, President of First National Bank at Darlington, said The Bank of New Glarus has an outstanding reputation. “All of us at First National Bank are excited about what this partnership will bring to our customers, employees, and the communities we serve,” she said. “We look forward to expanding on our offerings in conjunction with them.”

The definitive agreement was approved by the Boards of Directors of both banks. The deal is expected to close in the fourth quarter of 2022, following regulatory approval and approval by the shareholders of First National Bank at Darlington. As part of the acquisition, First National Bank at Darlington will continue to serve customers, small business owners and farmers in its current location.

The Bank of New Glarus was advised on the transaction by Wipfli LLP and Dickinson Wright PLLC. First National Bank at Darlington was advised on the transaction by Oak Ridge Financial and Reinhart Boerner Van Deuren, s.c.

The Bank of New Glarus opened in 1893 as the first official bank in New Glarus. It currently offers a full range of financial products and services to its customers, including personal banking, business banking and wealth management. It has branch offices in New Glarus, Belleville, Monroe, Juda and Brodhead and is Member FDIC and Equal Housing Lender.

First National Bank has been open in Lafayette County since 1934, and has locations in Darlington and Gratiot.