SBCP + Monona Bank Become Lake Ridge Bank in February
Over the past several months, you’ve been hearing about the impending merger between State Bank of Cross Plains and Monona Bank. Progress is being made, and there is still work to do. That said, we are happy to have had adequate time to prepare, so we can make this transition as simple and seamless as possible for you. A few updates and reminders as we head into the final stretch of preparations:
- Mark your calendars for February 13, 2023. The merger between SBCP and Monona Bank should be complete by February 2023, with a target closing date of Feb. 13.
- The new name will be Lake Ridge Bank. With a nod to local geography, we want to help shape the communities we serve in the same way the glaciers created our local lakes and landscape. Starting Feb. 13, State Bank of Cross Plains and Monona Bank will come together to become Lake Ridge Bank.
- Absolutely positively still an independent community bank. We are putting all of our collective experience, knowledge, and resources together to create the best community bank possible. You deserve a financial partner that’s just as connected to the community as you are. That means local ownership, local decision-making, and investment into local endeavors. This merger will only improve our ability to service area residents, businesses, and charities by keeping your money where it belongs: right here where you live, work, and play.
- Giving you more of the people and places that make us special. The most important things about your bank won’t change at all: enjoy the same bankers in the same locations that have always made your life easier. Actually, there will just be more of a good thing, growing to more than 400 associates serving you across 17 communities around Madison and throughout South Central Wisconsin.
We realize there has been a lot of communication sent to you via mail, email, account statements, and even some phone calls as needed. Continue to watch for updates as we near the official merger date in February. However, please rest assured that we won’t let any decisions or actions you need to take fall through the cracks:
- We will send you directions and walk you through any new logins, if needed.
- We will continue to keep you in the loop throughout the process.
Do you have specific questions or concerns? Don’t hesitate to reach out! Call your local bank or your favorite banker to talk directly with someone who can help. Find contact info here.
