Branch Transformation

Wings Financial Credit Union inks acquisition of Settlers Bank

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November 15, 2022

Wings Financial Credit Union, based in Minnesota, has reached an agreement to purchase Settlers Bank from SB Bancorp Inc.

As part of the agreement, Wings will acquire Settler's three branches in Appleton, Madison and Winsor, Minnesota, according to a press release.

Wings will rebrand Settlers to Settlers Best Credit Union. Pending approval, the transaction will close in mid-2023.

"We're excited about the opportunity to introduce our services to the Wisconsin market," Frank Weidner, president and CEO, Wings, said in the release. "We've been exploring opportunities to expand into Wisconsin and this transaction was a great fit for both Settlers bank and Wings. This opportunity will jump start our market presence in Wisconsin."