The joint merger between the Stephenson National Bank & Trust (SNBT) and Bank North is now complete. SNBT added five offices and 6,700 customers to its banking family.
“First of all, we’d like to say ‘Welcome!’ to all the new families joining SNBT. We’re excited to be your banking partner and are looking forward to serving you with the highest quality of service,” said Daniel Peterson, SNBT president and CEO. “Since the merger was announced in February, we have been working very hard to make the transition as smooth as possible.”
SNBT is operating with eight community bank locations in three counties: Marinette, Oconto and Menominee, Michigan. This collaboration brings the asset size of SNBT to more than $430 million with Trust and Investment Department assets under management to more than $440 million.
Jerry Schmidt will continue with SNBT as market president leading the five new offices. Schmidt has been in banking for 40 years.
The collaborative merger was announced on Feb. 9, 2014, and received regulatory and shareholder approval on April 23, allowing the holding companies to merge on June 16. These steps were necessary to bring about the final merger on Oct. 27.
Customers with questions are encouraged to visit the nearest SNBT office or call 715-732-1732.
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