Harris completes acquisitions of Ozaukee Bank and M&M Bancorp

The acquisition of Ozaukee Bank and Merchants and Manufacturers Bancorp by Chicago-based Harris and BMO Financial Group was finalized Monday.
Harris paid $137.2 million for M&M Bancorp and $190 million for Ozaukee Bank, a Harris spokesperson said. The transactions were announced in 2007.
The acquisitions include M&M Bancorp’s 35 full-service and 11 limited-service branches and Ozaukee Bank’s six full-service and two limited-service locations. The Wisconsin banks eventually will be renamed under the Harris brand.
Harris is retaining all of the employees at both of the Wisconsin bank companies, and announced several roles for top-level executives with Ozaukee and M&M.
Jim Rothenbach, formerly president and chief executive officer of Ozaukee Bank, will serve as Harris regional president for the Wisconsin North Region, including the area just north of Milwaukee and farther north to Sheboygan Falls. His region will include the Ozaukee Bank branches, as well as the former Grafton State Bank and Wisconsin State Bank branches.
Mel Hahs, a community bank president at MMBC, was named regional president for the state region, covering the far west and far north branches, including the former Reedsburg Bank, Fortress Bank and Community Bank Financial branches.
Mike Murry, former MMBC chairman, and Mal Hepburn, former Ozaukee Bank chairman, will continue to chair Harris community boards and will provide ongoing advice and business development support as the banks are brought together.
Tom Bolger was previously named president of Harris Wisconsin. He also will oversee the banks in Milwaukee and the banks in the southern part of the metro region.
Amy Yuhn, a spokeswoman for Harris, said all of Ozaukee Bank and M&M Bancorp’s employees, including executives, are being retained at this time. Titles and specific roles for some of those executives have not yet been determined, she said.

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