Intercity State Bank in Schofield, Wisconsin, plans to merge with Dane County-based One Community Bank.

Both institutions are owned by the Bosshard family.

The $266 million-asset Intercity State said the merger will provide enhanced banking services for the greater Wausau area and ensure that community banking thrives throughout central Wisconsin.

The merger is expected to be finalized later this year.

In conjunction with the deal, Intercity State’s President and CEO Randy Balk announced his plans to retire effective Feb. 28. He has led the bank since 1991.

“It has been a sincere privilege to lead Intercity for the last 34 years,” Balk said in a press release. “I am proud that our staff has always worked hard to provide a high level of quality service needed to help the people and businesses of our community succeed in meeting their financial goals.”

The bank also named Chris Pfender, who has been executive vice president of Intercity since 2017, its new regional president effective March 1.

One Community Bank and Intercity State Bank are well known to each other.

Steve Peotter, the $2.2 billion-asset One Community’s President and CEO, has served on the Intercity board for the past 10 years. The two banks have also teamed up on high-profile projects in the greater Wausau area.

Intercity State Bank currently serves the greater Wausau community through branch locations in Schofield, Weston, and Wausau. All three offices will continue to operate after the merger is complete.

“I have enjoyed the opportunity to get to know the Intercity team and community,” Peotter said in the release. “Through this merger and our aligned approach, we will enhance our service offerings to clients.”

Intercity State Bank had net income of $3.7 million in 2024 after earning $3.3 million in 2023, according to S&P Global Market Intelligence data.

For One Community Bank, earnings were $18 million in 2024, up $1 million from the previous year.

“It has been a sincere privilege to lead Intercity for the last 34 years. I am proud that our staff has always worked hard to provide a high level of quality service.”

 – Randy Balk
President and CEO
Intercity State Bank