As a growing organization, One Community Bank (OCB) announced an upcoming merger with Intercity State Bank (Intercity). The planned merger represents the combination of two high-performing banks that both believe fiercely in a mission of serving clients, supporting colleagues and investing in their communities.
One Community Bank and Intercity State Bank are well known to each other. Steve Peotter, OCB President and CEO, has served on the Intercity Board of Directors for the past 10 years. The two banks have also teamed up on high-profile projects in the greater Wausau area. An example is “The Foundry on 3rd” – a transformative new development in the city of Wausau which will redefine downtown living and business engagement. One Community Bank and Intercity State Bank are both owned by the same shareholder group, which has also reinforced their connection over the years.
“I am excited to have Intercity State Bank join One Community Bank in 2025,” said Peotter. “I have enjoyed the opportunity to get to know the Intercity team and community. Through this merger and our aligned approach, we will enhance our service offerings to clients, provide expanded career opportunities to colleagues, and ensure that community banking continues to thrive throughout Wisconsin.”
Intercity State Bank currently serves the greater Wausau community through bank locations in Schofield, Weston, and Wausau. All 3 locations will continue to serve clients after the merger and become branches of One Community Bank. All Intercity colleagues will continue in their roles and have opportunities to grow in their careers.
This announcement comes as Intercity State Bank’s President and CEO, Randy Balk, prepares to retire in February after 40+ years of distinguished service. As part of a planned succession, Chris Pfender, Intercity’s Executive Vice President, will step into the role of Regional President. Pfender has been a pivotal player in guiding Intercity’s growth and overall performance. “I’m looking forward to leading our exceptional team here at Intercity as we continue to serve our clients. I am excited to combine with One Community Bank and build on our foundation of success in the greater Wausau community,” said Pfender.
The merger is subject to regulatory approval and is planned to be finalized later this year.