TS Banking Group has acquired another bank in its ongoing efforts to “build its assets and expand its reach.”
First National Bank and Trust Co., based in the agricultural area of Clinton, Illinois, acquired State Bank of Arcadia, Wisconsin from B&E Investments and closed on the property on Oct. 1, a press release from TS Bank stated. First National is part of TS Banking Group, a multi-charter bank holding company based in Treynor with locations in Iowa, Illinois, North Dakota, Wisconsin, Nebraska, Colorado and California. The group employs a total of about 230 people.
Since Dec. 31, 2019, TS Banking Group has grown its assets from $900,792,000 to $1,184,234,000. When you add assets under management, the bank holding company has more than $1.5 billion in banking and fiduciary assets.
With banking assets of $210 million, State Bank of Arcadia serves an area in western Wisconsin that has a strong and diverse commercial and ag industry, TS Bank said in the release. As of Oct. 1, the bank officially merged into First National Bank and Trust Co., with the resulting bank having approximately $400 million in total assets across five locations.
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“We are excited to announce the most recent addition to our TS Banking Group family, the State Bank of Arcadia,” TS Banking Group President Kevin Forristall said in the release. “The Arcadia marketplace represents everything our company stands for, and we are excited to partner with existing marketplace contributors to further Ignite Prosperity in those communities. Along with the organic growth TS Banking Group has experienced in recent years, this addition to the company further enhances our financial strength, competitive positioning and talented employee base.”
As of March 31, 2021, TS Prosperity Group acquired Callahan Financial Planning, an independent fiduciary financial advisor, providing retirement planning and investment management services at locations in three states. Callahan had $220 million in assets under management at that time. This doubled the size of the combined businesses, which now have an estimated $524 million in assets under management.