Press Release


First National Bank and Trust Company Announces Completion of Merger with Walworth State Bank

Release date: 2/3/2016

Beloit, WI – Center 1 Bancorp, Inc., the holding company of First National Bank and Trust Company (FNBT) announced today the closing of its acquisition of Walworth State Bank (WSB). 

The acquisition strengthens First National Bank and Trust’s core deposit and customer relationship base with the combined bank having the number one deposit market share ranking in Walworth County. Centre 1 Bancorp anticipates that Walworth State Bank will be merged into First National Bank and Trust when conversions of information technology and data processing systems are complete, which is scheduled for the weekend of April 22, 2016. After the conversion is completed, WSB will operate under the First National Bank and Trust brand.
 
“Our new locations in Delavan, Elkhorn, Walworth, and Williams Bay are an excellent fit for First National Bank and Trust,” said Steve Eldred, President and CEO of FNBT. “The merger allows the bank to partner with a financially sound, family-owned, truly local community bank to create an even stronger organization to serve our customers’ and communities’ financial needs.”
 
FNBT currently operates 12 branches in Southern Wisconsin and Northern Illinois. With the completion of this transaction, the FNBT footprint includes an additional four branches and $269 million in assets bringing the combined assets to approximately $1.1 billion.
 
About Centre 1 Bancorp and First National Bank and Trust Company
Centre 1 Bancorp is the holding company of First National Bank and Trust Company, a diversified financial services corporation chartered in 1882.  First National will now serve more than 28,000 households in 14 communities and 16 locations in Southern Wisconsin and Northern Illinois. Family owned for nearly 80 years, Steve Eldred, President and CEO, is the fourth generation of his family to run the bank. Commitment to truly local full service banking, investments, asset management, exceptional service, and Sound Advice has positioned First National Bank and Trust Company as a Stateline leader in the industry. Visit www.fnbtwelcomesu.com for more information.

First National Bank and Trust Company is a family-owned, community bank headquartered in Beloit, Wisconsin. Chartered in 1882, First National Bank and Trust Company now serves more than 27,000 households in 9 communities and 12 locations in Southern Wisconsin and Northern Illinois with assets of approximately $820 million. Commitment to full service banking, investments, asset management, exceptional service, and Sound Advice has positioned First National Bank and Trust Company as a Stateline leader in the industry. For additional information, visit www.bankatfirstnational.com.