Keep up on the latest news from AbbyBank!
5/1/19
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.
4/25/19
Local Organization Recieves $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.
4/22/19
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.
4/12/19
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.”
4/11/19
Local Organizations Receive $500 from The Abbotsford Story Foundation
The Abbotsford Story, Inc. is pleased to announce the donation of $500 to Horace Mann Eagle Pride Market for purchasing backpacks for students to take food home.
4/10/19
Local Organizations Receive $3,950 from The Abbotsford Story Foundation
The Abbotsford Story, Inc. is pleased to announce the donation of $3,950 to four local Medford area organizations. Donations were presented to the Westboro Volunteer Fire Department, the School District of Rib Lake, Junior Achievement of Medford and the Holy Rosary Parish & School. These donations will help support many remarkable initiatives in the Medford and surrounding communities.
4/9/19
Local Organizations Receive $3,100 from The Abbotsford Story Foundation
The Abbotsford Story, Inc. is pleased to announce the donation of $3,100 to Get Smart Wausau, The Open Door of Marathon County and Centershot ministries. These donations will help support many initiatives in the Wausau and Weston areas.
4/8/19
Local Organizations Receive $2,900 from The Abbotsford Story Foundation
The Abbotsford Story, Inc. is pleased to announce the donation of $2,900 to the Grand Chute Police Department to help support their K-9 team and to St. Joseph Food Program for their hydroponic growing machines.
4/3/19
Local Organizations Receive $2,899 from The Abbotsford Story Foundation
The Abbotsford Story, Inc. is please to announce the donation of $2,899 to the Abbotsford Christian Academy, Colby Community Library, Page Forward Volunteers for Literacy, and Central Fire & EMS. These donations will help support many wonderful initiatives in the Abbotsford and Colby communities.
4/1/19
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.
8/31/18
AbbyBanks Winning Bid at Taylor County Fair Helps Benefit the Medford Barn Project
AbbyBank’s winning bid of a 250-lb. hog at the Taylor County Fair will help feed the guests during the September 15th open house event for the new MASH Agriculture Barn. The event is hosted by the FFA Alumni and the Medford FFA. All are welcome, and food will be served from 4-8 p.m. at the barn.
“We are excited for everything that the new Agriculture Barn is going to bring to the Medford area—education community involvement, and most importantly a love for agriculture,” said Sue Ackerman, Vice President and Medford Branch Manager.
8/30/18
AbbyBank helps local Taylor County Students Get Supplies Needed for New School Year
The United Way of Taylor County Fill A Bus program had a drop box at both the Medford and Abbotsford AbbyBank locations. The Fill A Bus program brings together all community efforts in helping local students to receive backpacks filled with needed school supplies for the upcoming school year.
“It is wonderful to see the community come together to help local students get started on a positive note for the upcoming school year,” states Sue Ackerman, Vice President/Branch Manager for AbbyBank.
8/29/18
Sam Tesmer Graduates From Graduate School of Banking & Awarded a Certificate of Executive Leadership
Sam Tesmer, AbbyBank’s Assistant Controller, was awarded a diploma on August 10, 2018, at commencement exercises during the 74th annual session of the prestigious Graduate School of Banking at the University of Wisconsin-Madison.
The School, sponsored by state bankers associations from across the central United States, as well as the University of Wisconsin-Madison, was established in 1945 to provide bankers with an opportunity for advanced study and research in banking, economics and leadership. Instruction at the Graduate School of Banking takes place during two-week resident sessions for three consecutive summers, along with comprehensive study between summer resident sessions. The curriculum focuses on the management of strategic issues faced by banking executives and financial services industry professionals.
The Graduate School of Banking enrolls approximately 600 US and international professionals each year. More than 85 esteemed academicians, economists, government officials, and industry professionals comprise the School’s faculty.
In addition, Sam Tesmer was awarded a Certificate of Executive Leadership from the Center for Professional and Executive Development (CPED) at the Wisconsin School of Business. This is the highest-level certificate offered by CPED and reflects the rigorous leadership curriculum that is delivered through the Graduate School of Banking.
Sam has spent most of her 10 years in banking as a commercial and agricultural credit analyst, recently moving into the Assistant Controller position at AbbyBank. She is from the Abbotsford area and is a graduate of Rasmussen College with a Bachelor of Science in Finance, Summa Cum Laude. Sam volunteers at the Clark County Humane Society and the Marathon County Historical Society.
Sharri Stroinski, VP/CFO of AbbyBank, states “Sam’s hard work and dedication are evident in her success at Graduate School of Banking. We are very pleased with her accomplishment.”
AbbyBank is an independent, community owned bank with assets of $475 million, serving our customers and shareholders with offices in Abbotsford, Appleton, Medford, Wausau and Weston.
8/28/18
Sale of the Furniture Benefits Medford FFA
In 2017, AbbyBank started its remodeling of their Medford location on S. 8th Street. They sold their gently used furniture for $1,700 to local area businesses that could utilize it. In turn, AbbyBank donated those funds back into the Medford community by donating them to the Medford FFA. “We have strong roots in agriculture and a passion for education, that is what made this a perfect fit,” states Sue Ackerman, Vice President/Branch Manager of the Medford AbbyBank.
8/20/18
AbbyBank & Peace Lutheran Church Partner to Help the Fill a Backpack Fill a Need Campaign
The United Way of Marathon County Fill A Backpack Fill A Need program had drop box locations at AbbyBank in Wausau and Weston and Peace Lutheran Church in the Town of Frankfort. The Fill A Backpack Fill A Need program helps all local needy students in Marathon County schools.
Peace Lutheran Church is proud to partner with AbbyBank to help provide school supplies to our local youth. “It’s a great feeling when we (the congregation) can help fulfill the needs of others in our surrounding areas,” states Kris Belanger, Fundraising/Community Service Project Coordinator at Peace Lutheran Church. PLC is made up of people from six local communities and believe that supporting the children of today is an investment in the future of those communities.
8/19/18
AbbyBank Partners with Cool for School to Help Area Students in Need School Supplies
The Community Clothes Closet’s program, Cool for School Supply Drive had a drop box location at AbbyBank in Appleton on Casaloma Drive. The program provides local students in need a brand-new back-to-school outfit, gym shoes, and school supplies. Last year, the program helped over 650 kids start the new school year on a positive note!
“AbbyBank is new to the Appleton area, even though this year marks our 50th anniversary. We wanted to find an organization that gave students the tools and materials they need to have a successful school year. We found that partnership with the Cool for School Supply program,” said Rob Diedrich, Appleton AbbyBank Branch Manager and AVP/Mortgage Loan Officer.
6/19/18
Adam Rekau Joins AbbyBank as Vice President/Commercial Lender & Branch Manager
AbbyBank welcomes Adam Rekau as the Vice President of Commercial Loans and Branch Manager at the Wausau Location. Adam joins the AbbyBank team with 15 years of banking experience working with clients in many industries. Some of those include; manufacturing, retail, wholesale, and transportation.
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, Merrill Area Development Corporation board, and the City of Merrill Community Development board.
Craig Stuedemann, President of AbbyBank, states “Adam will play a key role in providing quality commercial loans to facilitate growth in the greater Wausau and Merrill areas. His background in economic development will be an asset as we continue to grow our customer base.”
AbbyBank is an independent, community owned bank with assets of $462 million, serving our customers and shareholders with offices in Abbotsford, Appleton, Medford, Wausau and Weston.
3/9/18
AbbyBank Announces New President and New Senior Vice President/Senior Lender
Craig Stuedemann assumed his new role as President of AbbyBank on January 1, 2018. Craig succeeds Pat McCrackin, who will remain CEO and Chairman of the Board.
Craig, joined the AbbyBank team in 1998, most recently serving as Senior Vice President and Senior Lender. He has a Bachelor's Degree in Business from the University of Wisconsin-Madison and has also completed the Graduate School of Banking. Having worked in banking for 27 years, Craig is passionate about a community bank’s ability to positively impact local businesses, households, family farms, and the areas we serve. When not at work, Craig is active in his church, the Wausau Noon Kiwanis Club, DC Everest Youth Boys Basketball , Junior Achievement, YEA, and coaching various youth athletic teams.
Garrett Kornman joins the AbbyBank team as our new Senior Vice President and Senior Lender. He comes to AbbyBank with a Bachelor’s Degree in Education from the University of Minnesota – Twin Cities, a Bachelor’s Degree in Business Administration from the University of Wisconsin – Parkside, and has also completed the Graduate School of Banking at UW-Madison. Previously, Garrett was a Senior Lender in Southeast Wisconsin and has been in the banking industry for 15 years. In his free time, he enjoys being a conductor and has been playing saxophone for 35 years!
“We’re confident that Craig will continue the dedication to our values, innovation and community service. His years of experience and knowledge of the industry will help us reach the next level of community banking. We are also excited to have Garrett join our team as our new Senior Vice President and Senior Lender. He will be a great asset to the AbbyBank team,” states Pat McCrackin, CEO for AbbyBank.
AbbyBank is an independent, community owned bank with assets of $462 million, serving our customers and shareholders with offices in Abbotsford, Appleton, Medford, Wausau and Weston.
3/8/18
AbbyBank Presents Plaque to Retiring Board of Director, Dennis Kramer
At the annual shareholders meeting held in February, Patrick McCrackin, CEO of AbbyBank, presented Dennis Kramer with a plaque for his service on the board. Dennis joined the AbbyBank board of directors in 1994 when the bank had $87 million in assets. “Those that know Dennis admire him not only for his business efforts, but also for his personal commitment to this community. We have truly valued his leadership over the last 24 years,” states Patrick McCrackin.
AbbyBank is an independent, community owned bank with assets of $462 million, serving our customers and shareholders with offices in Abbotsford, Appleton, Medford, Wausau and Weston.
2/26/18
AbbyBank Celebrates 50 Years in Community Banking
50 years ago, in the small town of Abbotsford, Wisconsin, a vision became a reality when local business people came together and established the Abbotsford State Bank. This development brought a new quality of independent and community based financial service. The dedication to banking services for consumers, agriculture and businesses, proved to the shareholders and community that they could put their trust in this hometown bank. This success brought about new locations to other communities in 1998 and 2006, along with a name change to AbbyBank. The name change recognized the roots of origination while still displaying commitment to all three of the communities served. In 2016, AbbyBank completed its transaction with Fidelity National Bank adding Medford and Appleton to our footprint.
A special 50th Anniversary logo has been designed to honor the occasion. Patrick McCrackin, CEO, states, “We want to express our sincere gratitude for the many years of loyalty from our customers and the communities we serve. An Anniversary Celebration held at each location and more information will be posted as these events get closer. We look forward to celebrating this great milestone with those who made it possible!”
AbbyBank is an independent, community owned bank with assets of $462 million, serving our customers and shareholders with offices in Abbotsford, Appleton, Medford, Wausau and Weston.
www.abbybank.com
1/9/18
AbbyBank Announces New Appointment to the Board of Directors
AbbyBank welcomes new member Karen Piel to the bank’s Board of Directors. Karen graduated with a Bachelor of Business Administration from the University of Wisconsin-Madison, and a Juris Doctor degree from the University of Wisconsin Law School. Karen is currently employed by Marshfield Clinic Health System Foundation as their Charitable Gift Planning Officer, a role she has had since 2006. Previously, she was an estate planning attorney in the Wausau area.
Karen comes to AbbyBank as an accomplished business leader and an experienced board member in both the public and non-profit sector. In the past, she was elected to the Marathon County Board of Supervisors, serving on several committees, and elected to the Wausau School Board. She is currently a citizen member of the Marathon County Board of Adjustment, a faculty member for the Association for Healthcare Philanthropy Madison Institute - Planned Giving Track and a volunteer with the Wisconsin Board on Aging and Long-Term Care. In addition, Karen served as a volunteer for the American Legion Auxiliary Badger Girls State Program for over 20 years and she is a Leadership Wausau/Marathon County Graduate. She is also a member of numerous professional associations and is very passionate about giving back to her community. When Karen is not working, or volunteering, you will find her spending time with her family, enjoying outdoor activities, reading or traveling.
“We are confident that Karen will add great value to our Board of Directors and that AbbyBank will benefit from her insights, judgement and counsel,” states Pat McCrackin, CEO of AbbyBank.
AbbyBank is an independent, community owned bank with assets of $462 million, serving our customers and shareholders with offices in Abbotsford, Appleton, Medford, Wausau and Weston.
