LETTER: Merger joins two family banksTo the Telegram: Chippewa Valley Bank announced the acquisition of the Superior Bank in the city.
To the Telegram:
Chippewa Valley Bank announced the acquisition of the Superior Bank in the city.
Chippewa Valley Bank and Superior Bank have many similar products and services, but CVB offers more options to choose from for customers.
Chippewa Valley Bank anticipates retaining most of the current staff.
“Superior and Douglas County are great areas with a lot of great people, and we are very excited to be part of a growing community that has so much to offer,” said Chairman Larry Johnson. He said he has never been more excited about the future economic growth in Douglas County.
Chippewa Valley Bank has many ties to the Superior area such as the bank’s chief executive officer, Rick Gerber, and Johnson; both are University of Wisconsin-Superior graduates.
CVB has 11 other offices, six of which are located within a one-hour car ride of Superior for easy convenient banking for its customers.
“The Gray family is happy to have found a community-minded, family-owned bank with the same values as Superior Bank to transition our customers and friends to,” said Jim Gray, majority shareholder of Superior Bank, which has been owned or operated by the Gray family since 1917.
For those of you not familiar with CVB, you need to know about our history and our way of doing business. A community bank since 1917, Chippewa Valley Bank has remained committed to serving the communities in our area. We understand that for us to grow and prosper, the communities in which we serve must also grow and prosper. While many banks claim they are community oriented, Chippewa Valley Bank is one of the very few banks in the state of Wisconsin to receive an outstanding rating from the FDIC in the Community Reinvestment Act. An outstanding rating is the highest rating given by the FDIC, which means that we have an outstanding record of meeting the credit needs of the citizens and the communities in which we serve.
“We can tell from our experiences with Chippewa Valley Bank that our customers will be well taken care of,” said Superior Bank President Tom Germann.
Chippewa Valley Bank understands that your lives are very busy and that there are many options to choose from to meet your financial needs. We have a vast array of products and services that are easy to understand and allow you fast, convenient and free access to your money, 24 hours a day and 7 days a week. We pride ourselves in local decision making and offering the personal service that you deserve. We understand, most importantly, the value of a good relationship. We make it a point to get to know our customers and allow you to get to know us as well. We promise to always be a personal face for all your banking needs.
With the anticipated conversion date of August 20, CVB will have 12 offices and nearly $300 million in assets.
“At Chippewa Valley Bank, we are extremely excited about the opportunity to serve the people of Superior and the surrounding communities,” Gerber said. “Please view our website or call us to inquire about our products and services that we have to offer you.
Rick Gerber, chief executive
officer, (715) 868-3502; Randy Somerville, executive vice
president, (715) 634-5400; and Gloria Lindsay, future vice
president, (715) 398-3551.