Bank CMG Announces Agreement to Acquire Farmers Savings Bank

MADISON, WISCONSIN / ACCESS Newswire / January 20, 2026 / Bank CMG, a leading financial institution with assets totaling approximately $900 million, is pleased to announce that it has entered into a definitive agreement to acquire Farmers Savings Bank, a well-respected bank with assets totaling $450 million. This strategic move aims to bolster Bank CMG's market presence in Wisconsin and enhance its service and product offerings to its growing customer base.The acquisition, which is subject to shareholder and customary regulatory approvals, is expected to close by mid-2026. By combining resources with Farmers Savings Bank, Bank CMG intends to leverage its expanded portfolio to provide an even broader range of financial solutions and innovations to consumers and businesses throughout Wisconsin."Today is an exciting day for our bank as we welcome Farmers Savings Bank into the Bank CMG family," said Christopher M. George, Chairman of the Board of Greenwoods Financial Group, Inc., the bank holding company of Bank CMG. "This acquisition reflects our commitment to growth and innovation within the state of Wisconsin. Together, we will deliver exceptional value to our clients through enhanced product offerings and excellent customer service.""Farmers Savings Bank has always been about people - our customers, our employees, and the communities that trust us with their financial futures," said Matthew Staver, President and CEO of Farmers Savings Bank. "We are proud of the legacy we have built and grateful to everyone who has helped shape our story. We believe Bank CMG shares our commitment to community banking and to investing in the people and relationships that make local economies thrive. This partnership is about preserving what makes Farmers special while creating new opportunities for the next generation of customers and employees."The acquisition will bring together two teams of experienced professionals dedicated to fostering strong relationships with clients and communities. As part of the acquisition, Bank CMG plans to integrate Farmers Savings Bank into its operations, focusing on maintaining customer service excellence throughout the transition. Customers of both banks can expect to receive timely updates and information about any changes that may affect their accounts.What Farmers Savings Bank Customers Can Expect During the Regulatory Review PeriodCustomers do not need to take any action at this time.Farmers Savings Bank will continue business as usual while the transaction is under review. Customers can expect:• The same branch teams and local service• Continued FDIC deposit insurance coverage• No immediate changes to account access, loans, or day-to-day bankingIf any changes are planned in the future, customers will receive clear information well in advance.Customers with questions are encouraged to contact their local Farmers Savings Bank office or visit www.farmerssavings.com for updates as they become available. For more information about the acquisition or to learn more about Bank CMG and its services, please visit www.bankcmg.com or contact us at 920-945-2099.About Bank CMGFounded in 1893, Bank CMG (formerly Greenwoods State Bank) is a Wisconsin state-chartered community bank. For more than a century, we have served families and businesses across the state, earning trust through local decision making, reinvesting deposits in our neighborhoods, and building the personal relationships only a hometown bank can offer.At Bank CMG, our story is one of consistency and care. We honor the history that shaped us while embracing the future with confidence. Our mission is simple: deliver a broader range of financial solutions and cutting-edge service, grounded in transparency, speed, and care, while staying true to the principles that have guided us for more than 130 years.Member FDIC. Equal Housing Lender. NMLS ID# 491916 (www.bankcmg.com)About Farmers Savings BankFounded in 1917, Farmers Savings Bank is a community bank headquartered in Mineral Point, Wisconsin, serving customers across Southwest Wisconsin through its offices in Mineral Point, Dodgeville, Mount Horeb, Hollandale, and Edmund. Farmers Savings Bank is committed to reinvesting in the communities it serves and building long-term strength for customers, employees, and local businesses.Media ContactDave Panagrossidpanagrossi@bankcmg.comSOURCE: Bank CMGView the original press release on ACCESS Newswire