Keep up on the latest news from AbbyBank!
Heather Beiler is new Chief Retail Officer for AbbyBank
Heather comes to AbbyBank with over 18 years of experience. She received her bachelor’s degree from the University of Stevens Point and is a graduate of the University of Madison’s Graduate School of Banking. Heather has worked in many different areas of community banking, which makes her a great fit for AbbyBank and as our Chief Retail Officer. In her role, Heather will lead the retail activities across all seven AbbyBank locations. Heather loves working with customers and building relationships. She also enjoys being a supportive leader and coach for her retail team.
When Heather isn’t working you will find her attending her children’s sporting events. She loves Wisconsin summers and enjoying time with family and friends at their cabin up north on the lake.
“We are happy to welcome Heather to the AbbyBank team, stated Craig Stuedemann, President, and CEO at AbbyBank. Heather has a deep understanding of the banking industry and will help us enhance and streamline our retail division. She shares the same passion for community as all of us here at AbbyBank.”
Natalyn Jannene named recipient of Prochnow Educational Foundation/WBA Scholarship
The Wisconsin Bankers Association (WBA) has named Natalyn Jannene recipient of the Prochnow Educational Foundation/WBA Scholarship. Natalyn, AVP/Marketing, AbbyBank, Abbotsford, WI, will receive a $1,500 discount from the regularly charged fees for each of the three years of the Graduate School of Banking at the University of Wisconsin-Madison.
This $4,500 scholarship, established and funded by the Herbert V. Prochnow Educational Foundation, furthers the goal of supporting banker education. The scholarship is made available annually to a selected individual who has demonstrated outstanding leadership and a commitment to his or her community and to the banking industry.
“The banking industry and the communities we serve have a bright future because of the leadership of bankers such as Natalyn" said Craig Stuedemann, President, and CEO of AbbyBank. “This scholarship is in recognition of Natalyn’s commitment to AbbyBank and our valued customers”.
The Herbert V. Prochnow Educational Foundation, a not-for-profit support organization to the Graduate School of Banking, has promoted the growth of banker education throughout the United States. The Graduate School of Banking was established in 1945 and has more than 20,000 alumni.
WBA sponsors the Graduate School of Banking through its membership in the Central States Conference of State Bankers Associations. Rose Oswald Poels of the WBA is a member of the school’s Board of Trustees.
For further information regarding the scholarship, please contact the Wisconsin Bankers Association at 608-441-1200. For additional information regarding the Graduate School of Banking, please visit gsb.org.
AbbyBank hires Chuck Rabitz as VP/Agricultural Loan Officer
AbbyBank welcomes Charles (Chuck) Rabitz, VP/Agricultural Loan Officer, to their Abbotsford & Shawano, Wisconsin markets. Chuck joins AbbyBank with over 14 years of banking and ag lending experience. He also comes to AbbyBank with a bachelor’s degree and completion of the Graduate School of Banking from UW-Madison, as well as training from the Farm Bureau Institute. Chuck’s broad range of industry knowledge will provide the financial support to help our farmers and agribusinesses achieve their goals.
“We are confident that Chuck’s wealth of knowledge in the agricultural and banking industry will greatly benefit our farm and agribusiness customers and our team of bankers,” stated Adam Rekau, Senior Vice President/Senior Loan Officer. “He will be a great addition to our ag team in Abbotsford and look forward to his contributions to growing our agricultural presence in our Gresham & Shawano market.”
Chuck currently sits on the board for the Denmark Chapter of Wings over Wisconsin, Marinette County Farm Bureau, and is a volunteer firefighter for the Tisch Mills Fire Department. In his spare time, Chuck loves to spend time with his family, who together, enjoy hunting, fishing, playing golf, downhill skiing, shooting trap and riding motorcycle.
Promotion announcement for Adam Rekau and new hire of Shawn Sukup
AbbyBank is pleased to announce the promotion of Adam Rekau from Vice President/Commercial Loan Officer to Senior Vice President/Senior Loan Officer. Adam joined the AbbyBank team in 2018 with 15 years of banking experience. In his new role, Adam will lead the commercial and agricultural loan department while continuing to support his current customers that he has built lasting relationships with.
Adam is a graduate of UW-Eau Claire’s School of Business. He is passionate about supporting business development and growth. He currently serves on the Central Wisconsin Economic Development Fund board, and the Merrill Area Development Corporation board.
Craig Stuedemann, President of AbbyBank, states “I know Adam is very excited to take on this important role. He is a trusted advisor not only to our customers, but to our team at AbbyBank as well.”
Shawn Sukup joins AbbyBank as Vice President/Commercial Loan Officer at the Wausau location. Shawn joins the AbbyBank team with 22 years in the financial services industry. He is a graduate of UW-Stevens Point with a Business Management degree. Shawn’s broad range of industry experience allows him to build strong relationships with his customers by providing exceptional service and understanding their financial needs.
“My personal mission is to earn my customers trust and become their primary contact for all their financial needs,” Shawn states.
Adam Rekau, new Senior Vice President/Senior Loan Officer said “Shawn’s years of experience and his dedication to his customers are a great asset to our team and a great resource for our customers. We look forward to Shawn’s contributions to AbbyBank’s continued growth in the Wausau area.”
Junior Achievement of Wisconsin Northcentral receives $800 from AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $800 to the Junior Achievement of Wisconsin Northcentral to help purchase a new laptop and printer.
Hmong American Center receives $1,500 from AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $1,500 to the Hmong American Society to help with the cost of chairs for their meal site which will provide nutritious and healthy meals that meet the diet of the Southeast Asian Community.
Karla Feldbruegge promoted to Abbotsford Branch Manager
AbbyBank is pleased to announce the promotion of Karla Feldbruegge. Karla is an AVP/Business Banker and Senior Personal Banker. She will now also be the Branch Manager for the Abbotsford location. Karla has been with AbbyBank for 40 years. She continually earns the respect from her customers and the staff because of her extensive knowledge and caring personality.
Heather Beiler, Chief Retail Officer, states “Karla has proven to be an asset to AbbyBank and our local community throughout her tenure here and has always offered outstanding financial service to our customers. We couldn’t be happier to see her transition into her new role as the Abbotsford Branch Manager.”
Colby Rural Arts Museum receives $1,000 from AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $1,000 to help with the cost of construction for the caboose roof and the depot platform.
Shawano Police Department receives $2,500 from AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $2,500 to the Shawano Police Department for the purchase of new squad car computers.
Holy Rosary Catholic School receives $1,000 from AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $1,000 to the Holy Rosary Catholic School for helping to create an outdoor STEM area.
Middle Grounds receives $750 from AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $750 to the Middle Grounds for chairs and repairs to an ice and espresso machine. “Since Middle Grounds is running 100% on donations and volunteers, we are happy to give back to them to ensure they continue to prosper. They are a very important and safe place for our community teens to spend time. We are lucky to have them in the Wausau area,” states Tracy Engman, AVP/Cash Management Specialist for AbbyBank.
Compassionate Home Health Care receives $500 from AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $500 to Compassionate Home Health Care for dollies, folding tables and chairs and baskets for collecting donations. Compassionate Home Health Care is a nonprofit organization that supports personal hygiene and routine care services for children, elderly, veterans and those with disabilities or special needs.
Open Door of Marathon County receives $1,000 from AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $1,000 to Open Door of Marathon County for desktop computers.
Shepherd's Watch Community Center receives $2,700 from the AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $2,700 to Shepherd’s Watch Community Center in Mattoon, Wisconsin for a large printer and copy machine. This will help serve many areas within the community center.
Friends of Vincent Foundation receives $500 from the AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $500 to the Friends of Vincent Foundation (FOV) to help create a haunted sawmill. The Haunted Sawmill is open to all youth and families and typically draws over 8,000 visitors each year. The FOV Foundation works with the Merrill Fire Department to ensure the building is safe for all guests and volunteers.
Christmas in July Charity receives $500 from the AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $500 to the Christmas in July Charity for portable game systems and calming toys for the recovery and sedation rooms. The Christmas in July Charity is dedicated to helping children at the Marshfield Children’s Hospital by comforting children and their families that endure hospitalizations and medical treatments.
Local groups receive $9,500 from the AbbyBank Foundation
The AbbyBank Foundation, Inc. is pleased to announce the donation of $9,500 to the Little Lamb Academy of Medford, Huey’s Hideaway Children’s Museum and Taylor County Supportive Housing.
Little Lamb is currently working on construction of their childcare center. The awarded funds will help with several needed items like, cribs, changing tables, mats and floor coverings, cabinetry, and playground equipment.
Huey’s Hideaway will use the funds to help towards their outdoor expansion project. Huey’s is working on creating an additional outside area where a dinosaur exhibit will be placed.
Taylor County Supportive Housing will use their funds for the construction of a handicap bathroom.
Community Clothes Closet receives $1,000 from the AbbyBank Foundation
Old Glory Honor Flights receives $500 from the AbbyBank Foundation
AbbyBank and the Village of Gresham Create New Partnership
Shawano, WI -- AbbyBank and the Village of Gresham are pleased to announce they have partnered together to create an even better community space. AbbyBank is undergoing a major remodeling of its current location at 801 Main Street in Gresham. The project will include new business offices and a community room for the Village of Gresham. Upon completion, AbbyBank will donate the building to the Village and in-turn lease banking space from the Village. Keller, Inc. will be the Design/Build and General Contractor overseeing the remodeling project.
The project starts July 9th and is expected to be completed by year-end. In the interim, the bank offices have moved into a temporary banking unit located on the same site. This will help speed up the remodeling process and get everyone settled into the building faster. Hours of operation will not change during construction and all banking transactions can still take place.
The Village of Gresham is also pleased to announce they are the recipient of a $125,000 Community Development Investment (CDI) Grant through Wisconsin Economic Development Corporation (WEDC). The WEDC’s CDI Grant Program supports community development and redevelopment efforts. The matching grants are awarded based on ability of applicants to demonstrate economic impact of the proposed project, including public and private partnerships. The awarded grant was essential in moving the remodeling project forward.
Craig Stuedemann, CEO of AbbyBank, said, “AbbyBank is excited about this "win-win" accomplishment whereby we helped the Village of Gresham obtain new office space for their growing needs and modernize our banking office for our Gresham customers. We have a long history of supporting the community and are proud to continue that tradition with this unique partnership.”
Brian Carroll, Operations Manager of the Village of Gresham said, “We are extremely grateful to the Wisconsin Economic Development Corporation for our CDI grant. Sharing this space with AbbyBank helps bring us together to ensure our businesses and residents have a great place to live, work and play.”
“As the state’s leading economic development organization, WEDC’s aim is to bring together the best of Wisconsin’s public and private sectors,” said Missy Hughes, secretary and CEO of WEDC. “It’s exciting to see the Village of Gresham and AbbyBank joining forces to meet their mutual needs and to support a vibrant community.”
AbbyBank is an independent, community owned bank with assets of $625 million, serving our customers and shareholders with seven locations in Central and Eastern Wisconsin and online at www.abbybank.com
Monk Botanical Gardens Receives $5,000 from AbbyBank Foundation, Inc. for Sara's Storybook Garden
The AbbyBank Foundation, Inc. is pleased to announce the donation of $5,000 to the Monk Botanical Gardens for Sara’s Storybook Garden. This garden is in memory of Sara Quirt-Sann, with the goal of inspiring the imaginations of children and their families. The funds will specifically go towards building a hobbit house.
Bridge the Gap Receives $1,050 from AbbyBank Foundation, Inc.
The AbbyBank Foundation, Inc. is pleased to announce the donation of $1,050 to the Bridge the Gap for tables and chairs to be used in the expansion of their art therapy room. Bridge the Gap for Autism is a non-profit organization. Their mission is to provide a safe non judgmental environment for those with Autism and all special abilities to reach their full potential as they journey from childhood through adulthood.
Riverview Gardens Receives $1,000 from AbbyBank Foundation, Inc.
The AbbyBank Foundation, Inc. is pleased to announce the donation of $1,000 to the Riverview Gardens to help towards the construction of a solar green house. Riverview Gardens is a non-profit organization in Appleton, Wisconsin. Their mission is to build dignity through job training and employment. Their project engages the entire community in addressing the root causes of unemployment, poverty and homelessness.
Marathon County Literacy Council (McLIT) Receives $479 from AbbyBank Foundation, Inc.
The AbbyBank Foundation, Inc. is pleased to announce the donation of $479 to the Marathon County Literacy Council for a new paper shredder and bilingual books. McLIT, is a nonprofit organization that is dedicated to teaching literacy to adults and students no matter their level. They provide tutoring services to Marathon County and surrounding areas and at no cost to the public.
Compassionate Home Health Care Inc (CHHC) Receives $1,500 in Donations
The AbbyBank Foundation, Inc. is pleased to announce the donation of $1,500 to the Compassionate Home Health Care, Inc. for collection boxes, tables, and dollies. CHHC is a non-profit organization that collects personal care and cleaning items for community members in need. They have assisted thousands of families in the northeast Wisconsin region.
Colby Library and Central Fire & EMS Receive $2,350 in Donations
The AbbyBank Foundation, Inc. is pleased to announce the donation of $2,350 to the Colby Community Library and Central Fire & EMS. These donations will help purchase a new LUCAS device for the Central Fire & EMS and new computer and software for the Colby Community Library.
Every March and September, AbbyBank’s charitable foundation, The AbbyBank Foundation, Inc. receives requests from many area schools, non-profit organizations or community organizations for funds needed to enrich, create, or support existing community public projects. The AbbyBank Foundation, Inc., strives to provide continued support to its area communities.
The Foundation was formed in 1986 as a private charitable foundation of AbbyBank, which has contributed over $1,462,300 to the foundation. Since 1986, the foundation has made donations to Abbotsford, Appleton, Medford, Wausau, Weston and neighboring area organizations totaling over $1,034,267.37.
For more information regarding AbbyBank and its charitable foundation, visit their website at www.abbybank.com, call 715-223-2345 or stop in at any of the Abbotsford, Appleton, Gresham, Medford, Shawano, Wausau or Weston locations.
AbbyBank Supports Consumers, Small Businesses and Agribusinesses with Sensibill's Technology
Sensibill, the leading provider of everyday financial tools and SKU-level insights that drive personalization and help make financial wellness attainable for all, today announced that AbbyBank has launched its technology in partnership with FIS.
Natalyn Jannene, Assistant Vice President of Marketing for AbbyBank, said, “In today’s online world, customers expect more convenience to bank how they want. Our partnership with Sensibill will help our customers and employees with digitizing the shoebox of receipts or overstuffed purses and wallets, making it easier for them to track receipts, exchanges, and warranties in one place.”
AbbyBank serves a wide range of customers and providing Sensibill’s technology will help reduce time and stress of managing paper receipts. The receipts management tool organizes receipts for their Health Savings Account, side gigs, home construction, or their small businesses for tax purposes. It also helps customers track expenses for governmental programs like the Coronavirus Food Assistance Program (CFAP) and Paycheck Protection Program (PPP).
Corey Gross, Co-founder and CEO of Sensibill, added, “At Sensibill, we’re solving everyday problems that customers and businesses face today. This is a time when financial institutions like AbbyBank, that have strong relationships with their customers, can continue to make a huge impact in their financial lives by providing user-friendly tools to conveniently manage finances.”
Sensibill provides everyday financial tools, equipping financial institutions with personalized insights to help their customers build healthier financial habits. The AI-powered platform enables end-users to easily track spending and manage their finances. Sensibill has rolled out its solutions to over 60 million users across North America and the U.K. Visit getsensibill.com to learn more.
AbbyBank Launches New Tool Powered by MX to Help Members Improve Their Financial Lives
New tool provides customers with a seamless view of all their financial data, including budgeting, subscription tracking, account aggregation, and debt management
ABBOTSFORD, WI and SILICON SLOPES, UT, March 29, 2021 -- AbbyBank recently announced the release of a new digital banking product, a personal financial management (PFM) tool powered by fintech innovator MX. The feature allows customers to experience an embedded digital money management tool within their new AbbyBank eBanking and Mobile Banking platforms.
“The goal is to help our customers improve their financial awareness,” said Natalyn Jannene, Assistant Vice President of Marketing, AbbyBank. “Knowing where money is spent allows you to manage your money more effectively. When our customers succeed, we succeed and that is truly what AbbyBank is here for.”
The new tool is one-way AbbyBank is using data to better serve its customers, providing a seamless experience for viewing all their financial data in one single view. Features include budgeting, subscription tracking, account aggregation, auto-categorization, and debt management -- allowing customers to make better financial decisions in real-time. For AbbyBank, the tool will help the bank increase user loyalty while ultimately improving the financial lives of its customers.
“With MX, AbbyBank is giving its customers across Wisconsin greater clarity into their personal finances -- exactly the kind of innovation, partnership and money experience that MX loves to enable through our powerful data platform,” said Nate Gardner, Chief Customer Officer, MX.
Powered by MX, the PFM tool uses AI and machine learning to translate obscure transactions with 99% accuracy, saving time, reducing cost, and driving innovation. Cleansing and augmenting financial data gives customers actionable insights with categorization, merchant names, logos, and location for each transaction.
MX helps organizations everywhere deliver data-driven money experiences by connecting the financial ecosystem and turning raw, unstructured data into their most valuable asset. MX enhances financial data by cleansing, categorizing, and adding metadata that empowers organizations to deliver personalized experiences, reduce fraud, approve loans faster, and help customers save and invest smarter.
Founded in 2010, MX is one of the fastest growing fintech innovators, powering more than 2,000 banks, credit unions, fintechs, and technology companies, as well as 85% of digital banking providers, with a combined reach of over 200 million consumers. To learn more visit www.mx.com
AbbyBank Hires New AVP/Business Banker & Cash Management Specialist for Appleton
AbbyBank welcomes Julia Olsen, AVP/Business Banker and Cash Management Specialist to their Appleton, Wisconsin market. Julia joins AbbyBank with over 8 years of banking experience in the Greater Appleton area. We are thrilled to welcome Julia Olsen to the AbbyBank team,” said Garrett Kornman, Senior Vice President and Senior Loan Officer at AbbyBank. “She brings knowledge and experience that will be a great resource to our customers. Julia shares the same passion for community growth and success as all of us here at AbbyBank.”
Olsen will graduate from Fox Valley Technical College this year with an Associates in Business Management. She has a very philanthropic side to her as she is involved in Junior Achievement and is a 4H Leader. “I am passionate about people! I enjoy actively engaging with people to uncover needs and connect those needs with solutions,” said Olsen.
AbbyBank is an independent, community owned bank with assets of $616 million, serving our customers and shareholders with seven locations in Central and Eastern Wisconsin and online at www.abbybank.com
Local Financial Services Professional Earns National Certification
Abbotsford, Wisconsin – Vicki Halopka, Compliance Officer for AbbyBank was recently awarded the Certified Regulatory Compliance Manager (CRCM) professional designation from the American Bankers Association. “Earning the CRCM certification validates Vicki’s experience and depth of education in the bank regulatory compliance environment,” said Craig Stuedemann, CEO of AbbyBank.
The CRCM certification is awarded to individuals who demonstrate excellence in the field of bank regulatory compliance. To qualify for the CRCM certification, individuals must have certain levels of experience and education in the compliance profession, pass an exam and agree to abide by a code of ethics. The CRCM exam covers regulatory requirements as they relate to credit, deposits/securities, safety and soundness, information reporting and corporate responsibility.
When Vicki isn’t working you will find her volunteering her time for many organizations. Some of those organizations include; President of the FFA Alumni and Committee Member of the Friends of the Christian Education Baquet. Along with these organizations, she always jumps at the chance to volunteer at bank sponsored events.
Financial services professionals, working through ABA, initiated the CRCM certification and seven others to establish meaningful standards of knowledge in specialty areas of the financial services industry. ABA Professional Certifications formally recognize those who meet these standards and meet professional continuing education and development requirements.
ABA Professional Certifications promote the highest standards of performance in the financial services industry by validating individuals’ knowledge and expertise.
AbbyBank is an independent, community owned bank with assets of $615 million, serving our customers and shareholders with offices in Abbotsford, Appleton, Gresham, Medford, Shawano, Wausau and Weston and online at www.abbybank.com.
ICBA Honors AbbyBank for Exceptional Service During COVID-19
The Independent Community Bankers of America (ICBA) announced AbbyBank as a recipient of its 2020 National Community Bank Service Award for extraordinary efforts to help small businesses, consumers and their communities amid the COVID-19 pandemic.
“We are grateful for the opportunity to support our friends and neighbors and humbled by this recognition from ICBA for doing what we’ve always done—supporting our community through good times and adversity,” said Natalyn Jannene Assistant Vice President of Marketing at AbbyBank.
As consumers and small businesses in urban, suburban, and rural communities grappled with the onset of COVID-19, AbbyBank stepped up as a financial first responder and steward of its community by:
- Working nights and weekends to provide Small Business Administration’s Paycheck Protection Program assistance, processing 392 loans for a total of $26.7M.
- Helping local health care providers collect Personal Protective Equipment (PPE). They collected almost 25,000 first aid items.
- Donating PPE to support essential workers, businesses, local charities, and those in need.
- Delivering gifts and a sense of hope when members of the community needed it most.
“ICBA is proud to honor the extraordinary dedication and commitment of community bankers, whose spirit of service shined through when our country needed it most,” said ICBA President and CEO Rebeca Romero Rainey. “We are so fortunate to represent such thoughtful and compassionate community leaders, and we commend their efforts to go above and beyond, even during times of challenge.”
The 2020 National Community Bank Service Awards, presented by ICBA and sponsored by FIS, generated more than 100 inspirational stories from community banks like AbbyBank a sampling of which is showcased in the September issue of ICBA’s award-winning magazine, Independent Banker.
ICBA founded the National Community Bank Service Awards program in 2002 to celebrate outstanding volunteer efforts and bring national recognition to the unmatched contributions community banks make to help sustain their communities.
AbbyBank Unveils Charitable Foundation's New Name
The Abbotsford Story, Inc., that has served the surrounding communities with its charitable giving since 1986, has a new name: AbbyBank Foundation, Inc.
While the bank’s original location is in Abbotsford, the story has changed. The bank now has seven locations in Central Wisconsin and not everyone realizes that the Abbotsford Story, Inc. is connected to AbbyBank. The name change will help our foundation’s outreach to support all our communities with sustainable donations.
We are excited to launch the AbbyBank Foundation, Inc. name which will carry on the legacy and tradition of giving back to our local communities, states Jennifer Jakel, Executive Vice President and CRA Officer for AbbyBank.
The Foundation remains an independent foundation. Since 1986, AbbyBank has made contributions totaling over $1,366,300 to the foundation. Over the years, the foundation has made donations to Abbotsford, Appleton, Medford, Shawano, Wausau, Weston and neighboring area organizations totaling over $1,002,375.65.
AbbyBank Announces New Appointment to their Board of Directors
AbbyBank welcomes new member Patrick Trinko to the bank’s Board of Directors. Patrick graduated with a Bachelor of Science degree from GMI Engineering & Management Institute in Michigan. He also completed Pre-Med at the University of Wisconsin – Eau Claire. Patrick’s family owns and operates Shawano Ambulance which maintains five ambulances and has a station that is staffed 365 days a year serving nine townships, three villages and the City of Shawano.
Patrick comes to AbbyBank as an accomplished business leader and immense community supporter. He is currently the President of the Shawano County EMS Association, a member of the ThedaCare Medical Center - Shawano Trauma Committee, Northeast and Northcentral Wisconsin Technical College EMS Advisory Committees, Bellin Memorial Hospital Chest Pain Committee and the Stroke Committee, Shawano Community School District Safety Committee and President of the Vilas County Improvement Company Board of Directors.
Patrick was a director for State Bank until October of 2019 when the transaction was completed with AbbyBank. When Patrick is not working, or volunteering, you will find him spending time with his wife Liz and his children, McKenzie and Parker. Like many of us in Wisconsin, he enjoys outdoor activities like snowmobiling, boating, and hunting.
“We are very pleased to have Patrick join the AbbyBank board of directors. We are confident that Patrick’s knowledge of Shawano and Gresham markets will enable us to effectively serve our growing customers base,” states Craig Stuedemann, CEO of AbbyBank.
AbbyBank, Abbotsford Wisconsin and State Bank, Gresham, Wisconsin
AbbyBank announced the closing of a definitive agreement under which State Bank’s assets and liabilities became part of AbbyBank as of October 25, 2019.
“This is an exciting time for all of us,” states Craig Stuedemann, President and CEO of AbbyBank. “State Bank’s customers will find that our resources allow us to offer expanded services and enhanced opportunities to better serve them and their local communities.”
AbbyBank opened in 1968 and the corporate headquarters remain in Abbotsford. The addition of the Gresham and Shawano locations will increase AbbyBank’s assets to approximately $550 million. AbbyBank serves customers with additional locations in Appleton, Medford, Wausau and Weston, Wisconsin.
As of October 28, 2019, customers can utilize all seven locations for their banking needs.
Gerrish Smith Tuck, Consultants and Attorneys, Memphis, Tennessee served as AbbyBank’s financial and legal advisor in the transaction. Ruder Ware, L.L.S.C., Wausau, Wisconsin, served as State Bank’s legal advisor in the transaction, and Edelman & Co., Ltd. served as financial advisor to State Bank and its parent company West End Financial Corporation.
AbbyBank's Winning Bid at the Taylor County Fair Helps Benefit the Food Pantry at First Baptist Church in Medford
AbbyBank’s winning bid of a 250-lb. hog at the Taylor County Fair will help feed local families in need in the Medford and surround communities. After the sale, the bank processed the meat and had it delivered to the food pantry at the First Baptist Church in Medford.
“We were thrilled to have been the winning bidder of a hog at the fair. It was great to be able to have a two-fold win and donate that back into the community!” said Sue Ackerman, Vice President and Medford Branch Manager.
AbbyBank & Peace Lutheran Church Partner to Help the Fill a Backpack Fill a Need Campaign
Announcement AbbyBank, Abbotsford Wisconsin and State Bank, Gresham, Wisconsin
AbbyBank, Abbotsford, Wisconsin and State Bank, Gresham, Wisconsin, have entered into a Purchase of Assets and Assumption of Liabilities Agreement that will result in AbbyBank acquiring substantially all of the assets and assuming substantially all of the liabilities of State Bank. The transaction will increase AbbyBank’s total assets approximately $28 million, to approximately $533 million.
Following the transaction, each of State Bank’s current branch locations, one in Gresham, Wisconsin and the other in Shawano, Wisconsin, will be operated as branches of AbbyBank. Financial terms of the deal will not be publicly disclosed. Closing of the transaction is subject to the receipt of all required regulatory approvals.
Craig Stuedemann, AbbyBank’s President, said of the transaction:
“AbbyBank is excited about the opportunity to engage in this strategic transaction with State Bank. AbbyBank looks forward to the opportunity to provide State Bank’s customers the outstanding products and service that AbbyBank’s customers have enjoyed since its inception in 1968.”
Neil Beckman, Chief Executive Officer of State Bank, said of the transaction:
“State Bank looks forward to continuing to work with AbbyBank to bring this transaction to completion. AbbyBank is a great community bank, and the customers, employees and communities of Gresham, Shawano and the surrounding areas will continue to receive the great service they have come to expect from State Bank. We do not think we could have found a better partner in this transaction.”
Gerrish Smith Tuck, Consultants and Attorneys, Memphis, Tennessee served as AbbyBank’s financial and legal advisor in the transaction. Jeffrey C. Gerrish and Greyson E. Tuck served as lead advisors. Ruder Ware, L.L.S.C., Wausau, Wisconsin, served as State Bank’s legal advisor in the transaction, and Edelman & Co., Ltd. served as financial advisor to State Bank and its parent company West End Financial Corporation.
Local Organization Receives $1,500 in Donations
The Abbotsford Story, Inc. is pleased to announce the donation of $1,500 to the EMPD Blue Hearts. The donation will help towards the 5K/10K With A Cop program. This program helps law enforcement officers build relationships with at risk youth. They plan to help teach them the importance of goal setting, self-discipline, empower them with confidence and dedication that will help them live successful lives.
Rocky Road Boutique and AbbyBank join together to support Stepping Stones in Medford
Rocky Road Boutique and AbbyBank presented Stepping Stones with a $200 donation from the proceeds of their boutique party on Sunday, April 7th. Rocky Road Boutique in Stetsonville was AbbyBank’s featured business of the month in April. Both businesses wanted to find a way to team up and give back to the community.
Kendra Socwell, owner of Rocky Road Boutique, suggested Stepping Stones in Medford. “Kendra wanted to give some of her proceeds back to the community that has been so welcoming to her and her new business. After discussing the many wonderful organizations in the area, we agreed Stepping Stones was a great choice,” stated Natalyn Jannene, Assistant Vice President of Marketing for AbbyBank.
AbbyBank Promotes David Klein to Head of Mortgage Division
David has over 30 years of banking industry knowledge, 29 of which have been in real estate lending in the greater Wausau area. David obtained his bachelor’s degree in Business Administration, with an emphasis in Marketing from UW-Oshkosh. He graduated from the Wisconsin Bankers Association's Commercial Lending School and has his Wisconsin Insurance License. He has been a member of the Everest Area Optimist Club for the past 30 years, and has served as treasurer, secretary and board member.
David enjoys working with his customers through the loan process, making sure to be with them each step of the way. He takes pride in providing great customer service which creates a continual robust relationship.
Jenny Jakel, Executive Vice President of Retail, states “David’s expertise in mortgage lending and helpful personality are key factors in successfully navigating the mortgage process for our customers and all involved in each individual home purchase.”
Local Organizations Receive $500 from The Abbotsford Story Foundation
Local Organizations Receive $3,950 from The Abbotsford Story Foundation
Local Organizations Receive $3,100 from The Abbotsford Story Foundation
Local Organizations Receive $2,900 from The Abbotsford Story Foundation
Local Organizations Receive $2,899 from The Abbotsford Story Foundation
Local Organization Receives $15,000 from The Abbotsford Story Foundation
The Abbotsford Story, Inc. is pleased to announce the donation of $15,000 to the Colby Pullers Club for their food and beverage hospitality building. “Colby Pullers Club is excited for the opportunity and partnership with Abby Story Foundation. This grant will allow us to provide permanent structure to the facility and help us make, Pulling for Youth Hunger and Health in 2019 and years to come a great success. The Abby Bank Hospitality Building will be a great addition to the property and the City of Colby,” states Lony Oestreich, Colby Pullers Club.