Stephenson Bank to buy Great North Bank site in Wausaukee, relocate office
MARINETTE, Wis. — The Stephenson National Bank & Trust plans to relocate its Wausaukee office into the Great North Bank Wausaukee branch building at 290 Main St. in Wausaukee, Wis.
“After learning of Great North Bank’s plan to close its Wausaukee branch, we were approached about purchasing the building,” said Daniel J. Peterson, SNBT president and CEO.
“After weighing our options, it was decided that purchasing the building would be a positive strategic decision for a number of reasons — for instance, before we take our first deposit at the new location, we can renovate the building’s interior to suit our SNBT brand.”
Another advantage: the building is only 12 years old, with an open floor plan that will be more efficient for SNBT, with banker’s offices directly in the lobby, he said.
Stephenson National Bank & Trust intends to take ownership of the property in May, with remodeling to be completed by summer’s end, Peterson said.
The current SNBT office in Wausaukee, about a half-mile from the new location, will remain open during the renovation. Bank management said it is considering options for the site.
SNBT is an independent community bank managing more than $1 billion in bank, mortgage, trust and investment assets. It has Wisconsin locations in Marinette, Wausaukee, Crivitz, Pembine, and Oconto, plus a site in Menominee, Mich., and a trust and investment office in Marquette.