Release Date: November 16, 2015
For release at 5:00 p.m. EST
The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act by Baylake Corp., Sturgeon Bay, to merge with NEW Bancshares, Inc., Kewaunee, and thereby indirectly acquire its subsidiary bank, Union State Bank, Kewaunee, all of Wisconsin. The Board also approved the applications, under section 18(c) of the Federal Deposit Insurance Act and section 9 of the Federal Reserve Act, by Baylake Bank, Sturgeon Bay, to merge with Union State Bank and to establish and operate branches at the locations of Union State Bank's main office and branches.
Attached is the Board's order relating to this action.
For media inquiries, call 202-452-2955.