Jewel Box Financial Services, Inc., the holding company of Columbus-based Farmers & Merchants Union Bank (FMUB), and Ambanc Financial Services, Inc., the holding company of Beaver Dam-based American Bank of Beaver Dam (American Bank), have jointly announced today that Jewel Box has acquired Ambanc.
Upon the closing of the transaction, Jewel Box merged American Bank into FMUB. With the addition of American Bank, FMUB approaches $1 billion in assets and expands its branch network to 13 locations across Wisconsin.
Wipfli Corporate Finance Advisors LLC served as financial advisor to Ambanc, and Reinhart Boerner Van Deuren S.C served as its legal counsel. Olsen Palmer LLC served as financial Advisor to Jewel Box and Godfrey & Kahn, SC served as its legal counsel.
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