Wisconsin banks merge

Calumet Bancorporation, Chilton, Wis., has agreed to buy Calumet Bancshares, Brillion, Wis..Calumet Bancorporation's State Bank of Chilton will have five branches and more than $250 million assets following closure of the deal, expected in the spring.."As we enter State Bank of Chilton's 125th year, I am very excited about this partnership of two strong, local, community focused banks," stated Tom Bloomer, president and CEO of State Bank of Chilton. "Similar to State Bank of Chilton, Calumet County Bank has built its business around a philosophy of close personal service, local decision making, and a commitment to helping families, businesses and our communities succeed. We look forward to continuing that tradition.".The $175 million State Bank of Chilton has three branches in Milwaukee, Chilton and Stockbridge, Wis. Established in 1921, Calumet County Bank has $91 million in assets and branches in Brillion and Sherwood, Wis..Oak Ridge Financial rendered a fairness opinion to the board of directors of Calumet Bancshares in the transaction.