North Shore Bank has completed its acquisition of 1895 Bancorp of Wisconsin and its subsidiary PyraMax Bank, folding six branches across southeastern Wisconsin into its network and bringing the mutual savings bank to $3.1 billion in assets. The deal brings PyraMax’s offices in Franklin, Grafton, Greenfield, Mukwonago, South Milwaukee and Waukesha under North Shore’s umbrella, extending its reach deeper into the Milwaukee metro area.
According to WisBusiness, North Shore Bank confirmed it had completed its acquisition of 1895 Bancorp of Wisconsin, Inc. and PyraMax Bank, FSB. The outlet reported that the acquisition expands North Shore Bank’s presence in those six communities and that the bank now describes itself as a mutual savings bank with $3.1 billion in assets and more than 40 offices spread across eastern Wisconsin.
Before the deal closed, PyraMax operated six banking offices in those same six cities, according to a filing 1895 Bancorp made on OTC Markets. Regulatory approval was pending before the merger closed.
What North Shore Paid Remains Murky
The price tag attached to the deal is harder to pin down than the branch count. American Banker reported an estimated per-share consideration range…