XML 34 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Acquisition
12 Months Ended
Dec. 31, 2023
Business Combinations [Abstract]  
Acquisitions and Dispositions Acquisitions and Dispositions
Acquisitions:
The Corporation did not have any business acquisitions during 2021, 2022 or 2023.
Dispositions:
The Corporation did not have any business dispositions during 2022 or 2023.
2021:
On March 1, 2021, the Corporation completed the sale of its wealth management subsidiary, Whitnell, to Rockefeller for a purchase price of $8 million. The Corporation reported a first quarter 2021 pre-tax gain of $2 million, included in asset gains, net on the consolidated statements of income, in conjunction with the sale.
On February 26, 2021, the Bank completed the sale of one branch located in Monroe, Wisconsin to Summit Credit Union. Under the terms of the transaction, the Bank sold $31 million in total deposits and no loans. The Bank received an approximately 4% purchase premium on deposits transferred.