JUDA - Bank of Juda stockholders approved the sale of the bank to Bancorp of New Glarus Wednesday, clearing the way for the two banks to merge. Bancorp of New Glarus owns the Bank of New Glarus and Sugar River Banks.
There are 92 stockholders for the Bank of Juda and the majority of them voted for the sale, said Glenn Marass, vice president/cashier at the Bank of Juda. Stockholders voted at the board of director's meeting Wednesday night or sent in their proxy votes.
The Bank of Juda is an independently owned bank, founded in 1903. It is known for being a cornerstone of the Juda community.
The sale is expected to be completed in the second quarter, perhaps May or June, Bank of Juda president and chief executive officer Don Zimmerman said in January.
The Bank of Juda has assets of $37 million. The Bank of New Glarus and the Sugar River Banks have assets totaling $130 million in its four locations in New Glarus, Brodhead and Belleville.
There are 92 stockholders for the Bank of Juda and the majority of them voted for the sale, said Glenn Marass, vice president/cashier at the Bank of Juda. Stockholders voted at the board of director's meeting Wednesday night or sent in their proxy votes.
The Bank of Juda is an independently owned bank, founded in 1903. It is known for being a cornerstone of the Juda community.
The sale is expected to be completed in the second quarter, perhaps May or June, Bank of Juda president and chief executive officer Don Zimmerman said in January.
The Bank of Juda has assets of $37 million. The Bank of New Glarus and the Sugar River Banks have assets totaling $130 million in its four locations in New Glarus, Brodhead and Belleville.