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Heartland Financial Enters Madison, Wisc., Area Market.(Originated from The Wisconsin State Journal)
- Article from:
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Knight Ridder/Tribune Business News
- Article date:
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March 11, 1997
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Copyright informationCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mar. 11--Heartland Financial USA, of Dubuque, Iowa, has completed its purchase of Cottage Grove State Bank.
The $7.9 million purchase was completed March 1 after final regulatory approval, according to bank officials.
Heartland spokesman John Schmidt said employees and the board of directors at the Cottage Grove bank will remain in place and that decisions still will be made locally.
Under the terms of the deal, Heartland paid $197.25 per share for the approximately 40,000 outstanding shares of the local bank.
Cottage Grove State Bank has assets of about $40 million and is Heartland's first bank in Wisconsin.
Heartland ...
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