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The Tomahawk Leader is a state and national prize-winning weekly newspaper serving the scenic Northwoods area in and around Tomahawk, WI.

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Tomahawk Leader - Photo 16

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Photo 16
Photo by Contributed Photo

Tomahawk Community Bank and Merrill Federal Savings and Loan, two mutual community banks, jointly announce that the companies plan to merge, pending approval of the applicable banking regulators and Merrill’s members. Tomahawk Community Bank has been serving the area since 1920, Merrill Federal Savings and Loan since 1940. Upon completion of the partnership, the combined bank will have offices in both Tomahawk and Merrill, Wisconsin. Current employees and officers of both institutions will retain their employment with the new combined bank. Tomahawk Community Bank and Merrill Federal Savings and Loan are both mutual institutions, sharing the same philosophy of building long-term relationships with a strong community focus, without the influence of outside stockholders and private owners. With the transaction expected to close on or before year end 2016, you can rest assured that we will continue with business as usual...even better. “We believe the partnership will result in substantial benefits not only to both institutions, but our respective local communities, loan customers and depositor/owners as well. This will be a partnership of like-minded institutions, committed to providing a high level of personal service to our customers, building long-term relationships and with local decision making, to better serve our communities\' needs.” Kathy Rankin, President/CEO, Tomahawk Community Bank. “We believe the cultures of the two banks blend very well. Our core values are similar in that we both believe success lies in serving our communities and our customers. We’re excited that we will have the resources to more effectively compete in a changing financial arena, while maintaining our roots of serving communities with local ownership,” Mark Zulliger, President, Merrill Federal Savings and Loan Association. Pictured, from left, are John Ronis, Audrey Cordova, Mark Zulliger, Kathy Rankin, Jean Zoellner.

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