Group to charter new bank in Delafield, eye mid-year opening

Northwestern Financial Review, Jan 10, 1998

A group of local business people is organizing a new bank in Delafield, Wis.

Applications were filed on Dec. 1 with the Wisconsin Department of Financial Institutions to obtain approval to organize a bank called the Delafield State Bank, and with the Federal Deposit Insurance Corporation to obtain federal deposit insurance.

Organizers include Robert A. Lang, of Lang Graphics in Delafield; William J. Hickmann, an attorney and general counsel of Lang Graphics; Richard Meeusen, vice president/finance and chief financial officer of Badger Meter, Inc., and a Hartland resident; Fred A. Orlando, a packaging consultant for Menasha Corp., and a Hartland resident; Tom Manthy, president of Lakeland Olds/GMC and Jeep/Eagle of Oconomowoc; and Jon Bruss, who is to be president of the new bank.

"The organizers believe strongly in the importance of a locally-owned bank which will be located in downtown Delafield and serve the surrounding Delafield community," Bruss said.

"Because there are no locally owned banks headquartered in our market area, we believe there is an opportunity to create a bank with a renewed focus on the importance of the customer," Bruss added. "Our objective is to provide unparalleled service through offering traditional and non-traditional banking and investment products. We intend to have seasoned banking and investment professionals to carry out our objectives. They will be dedicated to creating and enhancing an environment in which customers' needs are recognized and fulfilled. We intend to provide a high level of personal service."

The organizers have also formed Town Bankshares, Ltd., which will own the bank. Assuming the various regulatory approvals are obtained, the bank plans to open around mid-year.