Merchants Bank has taken ownership of the deposit accounts, loans and the physical location of the Alliance Bank office in Eau Claire, as well as the loans and deposits of Alliance Bank's Pinnacle Way location.
Merchants Financial Group, Inc., President & CEO Rod Nelson, says they look forward to showing the Chippewa Valley their commitment to the communities they serve.
The sale was completed Friday and Merchants Bank will be ready to open its doors at 9:00 a.m. Saturday at the Mall Drive location. Long-time financial services leader Mark Willer has been named Market President and many of the Alliance staff have been retained.
Merchants Bank acquired approximately $48 million in deposits and $17 million in loans from Alliance. Terms of the sale have not been disclosed.