Home Industries Banking & Finance Waukesha State Bank to move its Prairie Trust division and wealth management...

Waukesha State Bank to move its Prairie Trust division and wealth management team to Pewaukee

By
Andrew Weiland
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N16 W23321 Stone Ridge Dr.
N16 W23321 Stone Ridge Dr., Pewaukee

Waukesha State Bank recently acquired an 8,700-square-foot office building in the City of Pewaukee, and will move its Prairie Trust division and its wealth management team there from Oconomowoc. Prairie Trust is a fiduciary-focused trust company. Its offices are currently located in the Waukesha State Bank branch office in Oconomowoc. In all, 22 employees from

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Andrew Weiland
Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.
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Waukesha State Bank recently acquired an 8,700-square-foot office building in the City of Pewaukee, and will move its Prairie Trust division and its wealth management team there from Oconomowoc. Prairie Trust is a fiduciary-focused trust company. Its offices are currently located in the Waukesha State Bank branch office in Oconomowoc. In all, 22 employees from Prairie Trust and Waukesha State Bank Wealth Management will move to the Pewaukee building. “Our teams have grown, and we’ve run out of room in Oconomowoc,” said Victor Schultz, president and chief fiduciary officer for Prairie Trust. “The new space will allow us to continue expanding. As many traditional bank trust providers have trimmed staff as they go to a centralized model, we’ve been able to add some of the most talented and experienced trust officers in the region.” The Pewaukee building is located at N16 W23321 Stone Ridge Dr. It was formerly occupied by the Metropolitan Builders Association of Greater Milwaukee Inc., which sold the building to Waukesha State Bank and recently moved its office to 2120 Pewaukee Road, Waukesha. The sale price of the Pewaukee building was not immediately disclosed. The property has an assessed value of about $1.3 million and an estimated fair market value of about $1.6 million, according to Waukesha County records. Prairie Trust and Waukesha State Bank Wealth Management will be the sole occupants of the new building, which will be remodeled prior to their taking occupancy sometime in the fourth quarter. It will be remodeled to accommodate 37 employees, in anticipation of future growth. Remodeling planning is underway by Thrive Architects. The contract work for construction has yet to be bid out.

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