CHICAGO, March 3 /PRNewswire-FirstCall/ -- Harris and BMO Financial Group (NYSE, TSX: BMO) today announced the completion of the acquisitions of Ozaukee Bank and Merchants and Manufacturers Bancorporation, Inc., both based in Wisconsin. The transactions were announced in 2007.
Ozaukee Bank is a community bank with six full-service and two limited-service locations in the northern part of the greater Milwaukee area and is the deposit share leader in its market. Merchants and Manufacturers operates 35 full-service and 11 limited-service locations in an area concentrated in Milwaukee, and extending into Green Bay to the north and LaCrosse to the west.
"Over the past several months since announcing these transactions, we've had the opportunity to really get to know the teams at MMBC and Ozaukee Bank and it's clear that we have a great opportunity to leverage strengths from all three organizations to deliver an exceptional level of banking in the Wisconsin market," said Ellen Costello, Chief Executive Officer, Harris Bankcorp, Inc. "Collectively, we are determined to continue delivering the exceptional service and outstanding community commitment that Wisconsin has come to expect from these two banks and for which Harris has been known for over 125 years."
Harris will introduce its brand into the market in the coming months as it works to bring MMBC and Ozaukee Bank onto its operating platforms. Effective immediately, Harris will begin to transition the banks to its management operating model and has divided the market into three regions. As previously announced, Tom Bolger is named President, Harris Wisconsin. He will direct integration and expansion activities in the market and will lead the Metro Region, covering Milwaukee and areas to the south. The Metro Region will largely consist of the former Lincoln State Bank branches. Additionally:
-- Jim Rothenbach, formerly President and Chief Executive Officer, at Ozaukee Bank, will serve as Harris Regional President for the Wisconsin North Region, including the area just north of Milwaukee and north to Sheboygan Falls. It will include the Ozaukee Bank branches, as well as the former Grafton State Bank and Wisconsin State Bank branches. -- Mel Hahs, a Community Bank President at MMBC, is named Regional President for the State Region, covering the far west and far north branches, including the former Reedsburg Bank, Fortress Bank and Community Bank Financial branches. -- Mike Murry, former MMBC chairman, and Mal Hepburn, former Ozaukee Bank chairman, will continue to chair Harris Community Boards and will provide ongoing advice and business development support as we bring these banks together.
With the closing of this acquisition, Harris now has more than 270 full-service locations in Illinois, Indiana and Wisconsin and nearly 650 Harris-branded ATMs, and is closer to its goal of 350 to 400 locations across the Midwest.
Harris N.A. is the third-largest bank based on branches in the Chicago market, with $41.5 billion in assets and $29.5 billion in deposits. Additionally, Harris has affiliated wealth management offices in Arizona, California, Florida, Georgia, New Jersey, Virginia and Washington.
About Harris
Harris is an integrated financial service organization providing more than 1 million personal, business and corporate clients with banking, lending, investing and wealth management solutions. The organization is a member of the BMO Financial Group (NYSE, TSX: BMO), which also provides corporate and investment banking services in the U.S. under the BMO Capital Markets name.
Harris(R) is a trade name used by various financial service subsidiaries of Harris Financial Corp. Banking products and services are provided by Harris N.A., The Harris Bank, N.A. and their bank affiliates. Members FDIC. Brokerage products are offered through Harris Investor Services, Inc. (HIS), a registered broker/dealer, member NASD/SIPC, and SEC registered investment adviser. Insurance and annuities are offered through Harris Bancorp Insurance Services, Inc. (HBIS). Securities are provided by BMO Capital Markets Corp. (BMOCM), a registered broker dealer and member NYSE, NASD and SIPC. HIS, HBIS and BMOCM are affiliated companies and are wholly owned subsidiaries of Harris Financial Corp. Products offered by HIS, HBIS and BMOCM are Not Insured by the FDIC or any Federal Government Agency, Not a Deposit of or Guaranteed by Any Bank or Bank Affiliate, May Lose Value. The purchase of insurance or an annuity is not a condition to any bank loan or service. Financial planning and investment advisory services are provided by Sullivan, Bruyette, Speros & Blayney, Inc., an SEC registered investment adviser. Family Office Services are provided by Harris myCFO, Inc. Investment advisory services are offered by Harris myCFO Investment Advisory Services LLC, an SEC registered investment adviser and wholly-owned subsidiary of Harris myCFO, Inc. Not all products and services are offered in every state and/or location.
