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Local Community Banks Agree to Merge

Posted on by Allison Wallner

FOR IMMEDIATE RELEASE
July 29, 2016

Contact:
Mark Schellpfeffer
608-223-5141
mschellpfeffer@mononabank.com

Local Community Banks Agree to Merge

(MONONA, Wis.) – Monona Bankshares, Inc., the holding company for Monona State Bank, announced today that it is expanding its bank and team of experienced bankers by acquiring the holding company for Middleton Community Bank. It will merge the two banks under the name Monona State Bank.

“This merger makes sense because both banks are locally owned and focused on their communities,” Monona State Bank President Paul Hoffmann said. “We’ve always believed that there is ‘strength in neighbors’. We look forward to joining together to offer more services to all of our customers.”

The holding companies of the banks signed a binding agreement on July 28, 2016. The merger requires shareholder and regulatory approval.

The signing of the final closing documents will occur in the fourth quarter of 2016, and integration of the two banks is expected to be completed by the summer of 2017.

After the banks merge, Monona State Bank will employ more than 150 associates in nine locations. It will operate the Middleton Community Bank locations in Middleton, Cross Plains, Belleville, Sauk City and Brooklyn. The combined banks will have $775 million in assets, giving them more opportunities to compete and grow.

Monona State Bank’s headquarters will remain in Monona. The merger allows the banks to stay locally owned and save jobs with no anticipated layoffs.

About Monona State Bank (www.mononabank.com)

Monona State Bank is a locally owned and managed bank that believes “together, we prosper.” Founded in 1991, it is committed to making communities great places to live, work and raise a family. Monona State Bank has grown to about $475 million in assets with two locations in Monona, and one each in Madison and Cottage Grove.

About Middleton Community Bank (www.middletonbank.com)

Middleton Community Bank has about $300 million in assets while serving more than 10,000 accounts since opening in 1995. Its mission is to provide quality products and personal service to customers in Middleton, Belleville, Brooklyn, Cross Plains, Sauk Prairie and surrounding communities in South Central Wisconsin.

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Presidential campaign social media strategies

Posted on by Taylor Kennedy

If you’re a social media junkie like I am, you’ve noticed the two presidential candidates’ social media strategies couldn’t be more different if they tried.

Recently, after President Obama endorsed Hillary Clinton, Donald Trump tweeted “Obama just endorsed Crooked Hillary. He wants four more years of Obama – but nobody else does!” Within five minutes, Hillary’s social media squad fired off a tweet that has gained more than 630,000 likes and 480,000 retweets, reading “Delete your account @RealDonaldTrump.”

Continue reading “Presidential campaign social media strategies” →

365 Cracking the Code on Millennial Shopping

Posted on by mbell

365In May, Whole Foods (in my world, known as “Whole Paycheck”) revealed a new business undertaking. The Whole Foods Market Inc. introduced 365, a new grocery chain aimed at offering lower prices while providing a high-technology experience for customers.

When I first learned about the chain, I thought, “Oh, it’s like Whole Foods … but I can afford it!” However, 365 is trying to avoid the title as “the cheaper Whole Foods” and instead provide a new consumer grocery shopping experience.

Instead of wine specialists, iPads are placed in the beverages section to help you find your perfect pairing. Produce is priced per piece or per package rather than by the pound. Meat, cheese and fish are in to-go packages instead of ordering them from butchers, cheese and fishmongers. Stores exclusively use digital pricing, which enables them to change prices instantly. Fast-pay areas include kiosks that only accept Apple Pay and credit cards for a speedy checkout.

According to Reuters, 365’s target market includes cash-strapped “millennial moms” and people who buy from a range of other food sellers, such as Kroger, Walmart, Amazon and meal kit providers.

365 launched its first store in Los Angeles and will be an interesting venture to watch. According to a Fierce Retail study earlier this year, 74 percent of millennials and 80 percent of Generation Z still want brick-and-mortar stores but consider the product interaction to be critical to making a purchase.

As the online marketplace expands to encompass fresh food and produce, maybe this is what grocery stores need to do to ensure a steady supply of shoppers.