Baylake Bank, a subsidiary of Baylake Corp., on Monday announced
it will purchase Community Bank & Trusts
Appleton office, along with approximately $14 million in
Under the agreement, according to a company
statement, all loans with the exception of certain personal
reserve accounts will be retained by Community Bank.
Sturgeon Bay-based Baylake Bank operates 20
banking offices in four Wisconsin counties.
"Our expansion into Appleton
within the heart of the Fox Valley region supports Baylake's
strategy to build our presence in key metropolitan markets for
said Robert J. Cera, Baylake Corp.'s president and CEO.
look forward to continuing the fine service and capabilities
Community Bank & Trust has established in this market.
"Due to the fact
that Baylake Bank's core values and reputation are very similar
to ours, we are confident that the branch sale is a good fit for
our customers, said Tony Jovanovich, chairman and CEO of
Community Bank & Trust. We are pleased to have found a bank
partner which will continue to offer clients a high level of
customer service guided by a commitment to the community and
superior financial advice and guidance."