Brookfield, Wis.-based North Shore Bank is acquiring 1895 Bancorp of Wisconsin, Greenfield, and its subsidiary, PyraMax Bank..The transaction, which is expected to close in the fourth quarter, will result in a combined company with nearly $3.1 billion in assets. As of March 31, PyraMax Bank had nearly $600 million in assets, $402 million in deposits and $426 million in net loans and leases. As of last month, North Shore Bank had $2.5 billion in assets, $2.1 billion in deposits and nearly $2 billion in net loans and leases. PyraMax President and CEO David Ball said the deal will enable them to offer “a broader branch network with extended service hours seven days a week, improved digital banking and more personalized solutions.” Minneapolis-based Piper Sandler & Co. and Reinhart Boerner Van Deuren, s.c., Milwaukee, advised North Shore Bank. Washington, D.C.-based Luse Gorman, PC advised PyraMax Bank. New York City-based Keefe, Bruyette & Woods is 1895 Bancorp’s financial advisor and rendered a fairness opinion to its board.
