Dec 23, 2015

By Paul Gores of the Journal Sentinel Dec. 22, 2015 6:19 p.m. Two northeast Wisconsin community banks -- State Bank of Chilton and Brillion-based Calumet County Bank -- said Tuesday they plan to merge. Financial terms of the transaction between Chilton-based Calumet Bancorporation Inc. and Calumet Banschares weren't disclosed. The merger, which needs regulatory approval, is expected to be completed in spring of 2016. The combined bank will operate as State Bank of Chilton, with five branches. "We have always respected State Bank of Chilton as a competitor and admired their commitment to the communities they serve," Brad Grant, president and chief executive of Calumet County Bank, said in a statement announcing the deal. "Bringing our organizations together will add strength to our organization and improve our ability to help grow area businesses, expand our banking products and provide trust services and investment services to our customers. " Tom Bloomer, president and chief executive of State Bank of Chilton, said: "As we enter State Bank of Chilton's 125th year, I am very excited about this partnership of two strong, local, community focused banks. " State Bank of Chilton has $175 million in assets and branches in Chilton, Stockbridge and Milwaukee. State Bank of Chilton has been a family owned bank since its inception and now is being operated by the sixth generation of the founding family. Calumet County Bank, with assets of $91 million, was established in 1921. It has offices in Brillion and Sherwood. © 2015 , Journal Sentinel Inc. All rights reserved.