WAUSAU, WI (WSAU) — Peoples State Bank is expanding its footprint in Southeast Wisconsin with the acquisition of Sunset Bank and Savings.
PSB Holdings, INC- the parent company of Peoples State Bank- announced the deal on Wednesday. Under the agreement, all Sunset branches will be re-branded as Peoples locations by June of 2021.
The deal is still pending approval from regulators and is expected to close sometime in the second quarter of 2021. The combined company will have over $1.24 billion in assets and ten full-service locations in Waukesha, Milwaukee, Marathon, Oneida, and Vilas Counties.
Terms of the deal have not been disclosed but according to a press release from Peoples the deal will be completed as a cash transaction.
