Merchants & Manufacturers Bancorporation, Inc. Announces Closing Iowa Operation Sale
26 October 2007 - 8:24AM
PR Newswire (US)
NEW BERLIN, Wis., Oct. 25 /PRNewswire-FirstCall/ -- Merchants &
Manufacturers Bancorporation, Inc. (OTC:MMBI) (BULLETIN BOARD:
MMBI) ("Merchants"), today announced the closing of the previously
announced sale of our subsidiary bank in Iowa, Fortress Bank of
Cresco, to Decorah Bank & Trust Company of Decorah, Iowa.
Michael J. Murry, Chairman, stated, "We continue to believe the
sale of Fortress Bank of Cresco to Decorah Bank and Trust Company
will be good for the clients and employees of the bank as well as
for the community of Cresco. We would like to thank the Board of
Directors, management team and employees of the bank for their hard
work and dedication to our organization over the last five years."
Merchants & Manufacturers Bancorporation, Inc. is a financial
holding company headquartered in New Berlin, Wisconsin, a suburb of
Milwaukee. Through our Community Financial Group network, we
operate six banks in Wisconsin (Community Bank Financial, Fortress
Bank, Grafton State Bank, Lincoln State Bank, The Reedsburg Bank
and Wisconsin State Bank). Together, our banks operate 45 offices
in the communities they serve with more than 100,000 clients and
total assets of $1.5 billion. In addition to traditional banking
services, our Community Financial Group network also provides our
clients with a full range of financial services including
investment and insurance products, residential mortgage services,
private banking capabilities and tax consultation and tax
preparation services. Merchants' shares trade on the OTC Bulletin
Board under the symbol "MMBI." Certain statements contained in this
press release constitute or may constitute forward-looking
statements about Merchants which we believe are covered by the safe
harbor provisions for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995. This release
contains forward-looking statements concerning Merchants' prospects
that are based on the current expectations and beliefs of
management. When used in written documents, the words anticipate,
believe, estimate, expect, objective and similar expressions are
intended to identify forward-looking statements. Additional
forward-looking statements relate to the elements of Merchants'
strategic plan and the implementation of such elements. The
statements contained herein and such future statements involve or
may involve certain assumptions, risks and uncertainties, many of
which are beyond Merchants' control, that could cause Merchants'
actual results and performance to differ materially from what is
expected. In addition to the assumptions and other factors
referenced specifically in connection with such statements, the
following factors could impact the business and financial prospects
of the Merchants and its ability to successfully implement its
strategic plan: general economic conditions; legislative and
regulatory initiatives; monetary and fiscal policies of the federal
government; deposit flows; disintermediation; the cost of funds;
general market rates of interest; interest rates or investment
returns on competing investments; demand for loan products; demand
for financial services; changes in accounting policies or
guidelines; and changes in the quality or composition of Merchants'
loan and investment portfolio. Such uncertainties and other risk
factors are discussed further in Merchants' filings with the
Securities and Exchange Commission. Merchants undertakes no
obligation to make any revisions to forward-looking statements
contained in this release or to update them to reflect events or
circumstances occurring after the date of this release. DATASOURCE:
Merchants & Manufacturers Bancorporation, Inc. CONTACT: Michael
J. Murry, Chairman of the Board of Directors of Merchants &
Manufacturers Bancorporation, Inc., +1-414-425-5334 Web site:
http://www.communitybancgroup.com/
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