River Cities Bancshares Announces Sale
May 9, 2019
Minneapolis, MN – (May 8, 2019) — Time Federal Savings Bank of Medford, Wis., has agreed to purchase River Cities Bancshares and River Cities Bank of Wisconsin Rapids, Wis. The sale is expected to close in 2019, pending regulatory approval. Terms of the deal were not disclosed.
Prior to the combination, Time Federal Savings Bank had $585.8 million in assets, while River Cities Bank had assets of $256.3 million.
WCF Advisors is advising River Cities Bancshares on the transaction. Boardman & Clark LLP is legal counsel.
UPDATE: This transaction closed November 1, 2019.