Ergo Bank: Farmers & Merchants Band of Kendall to merge with Ergo bank

MARKESAN, WISCONSIN– Ergo Bank has announced that Farmers & Merchants Bank of Kendall (F&M Bank of Kendall), with locations in Wilton and Norwalk, has merged with Ergo Bank of Markesan, with locations in Fox Lake, Burnett, Lebanon, and Poynette. The merger brings together two like-minded organizations with a shared culture to better serve their local communities.

The board of directors and shareholders of Farmers & Merchants Bank of Kendall and the board of directors of Ergo Bank approved the agreement and plan of a merger. The merger received regulatory approval from the Federal Deposits Insurance Corporation (FDIC) to become one bank under the name Ergo Bank, effective as of March 22, 2023.

“Growing up on my family’s farm in Kendall, I drove by the bank nearly every day. I remember walking into the bank with my mother and my savings book to make my deposits. I never imagined I would have the ability to stand on the other side of the counter and serve the people of Kendall, Wilton, and Norwalk,” said Kyle Witt, President, and Chief Executive Officer of Ergo Bank.

Ergo Bank is proud to serve small, agricultural communities and understands what it means to face hard work every day. Over 150 shareholders own Ergo Bank, and most shareholders have family ties back to the Markesan and Fox Lake area. The bank’s board consists of seven members who have a significant knowledge base in agriculture, specifically dairy and row crop farming, along with an accountant, an owner of an excavating company, an aerial applicator crop duster, and a retired bank president.

Ergo Bank remains focused on providing innovative products and increasing access to an array of retail banking products and additional mortgage loan products while continuing to deliver customer-friendly services to clients.

Guy Nelson, Farmers & Merchants Bank of Kendall’s Chief Executive Officer, believes merging with Ergo Bank is the best thing moving forward. “My grandfather, E.G. Smith, first bought stock in the bank in 1931. Since then, my father Floyd Nelson, and I have slowly acquired ownership. Over my 29 years working at the bank in Kendall, I have had the honor to work with many great employees and customers. We have helped many people fulfill their dreams. I am confident that Ergo Bank will continue to support our communities and serve our customers,” said Nelson.

For Farmers & Merchants Bank of Kendall, it is an opportunity to turn the page to the next chapter as the Nelson family looks to retire from banking. The years of service to the communities have been invaluable, and the number of people they’ve worked with over the years is countless.

About Ergo Bank

Opening its doors in 1910, Ergo Bank was originally named Farmers State Bank, built on a time-honored connection with their customers and the community through trust, experience, service, and satisfaction. In 1991, State Bank of Fox Lake merged with Markesan under the name Farmers State Bank. In March of 2018, Farmers State Bank changed its name to Ergo Bank to support the vision of delivering ‘Better Banking. By Design.’

Ergo Bank has a steadfast approach to ensure your banking is designed to be efficient and effective. The mission is to be accommodating, and comfortable through customer-friendly experiences.

As of 2022 year-end, Ergo Bank has $145+ million in assets, and operates two branches and five ITMS, servicing Markesan, Fox Lake, Burnett, Lebanon, Poynette, and the surrounding communities in Wisconsin. For additional information on ‘Better Banking. By Design.’ please visit https://www.ergobank.com.