The Milwaukee Post

May 16, 2014 • Milwaukee County Post • 13 By KIRSTEN KLAHN Special to the Post MILWAUKEE – Timing is everything, especially in banking. Waukesha-based First Federal Bank of Wisconsin is merging with Milwaukee- based Bay View Federal Savings and Loan Association. "Simply put, it was the right time for both of us," said Gary Riley, president and CEO of First Federal Bank. "Bay View is a good fit for us." The merger has officially been approved, and the conversion date is Monday, Riley said. Both banks will use the First Federal Bank of Wisconsin name, and the home office will be at 1617 E. Racine Ave. in Waukesha. First Federal has two other Waukesha offices at 1801 Summit Ave. and 134 Wisconsin Ave. Bay View has one office, 3974 S. Howell Ave, Milwaukee, which will become First Federal Bank, Bay View when the merger is complete. The merger will create a combined fed- eral savings association with assets totaling around $255 million. Riley will be chairman and CEO of the merged banks, while Steve Johnson, president of Bay View Federal, will be president of the new organization. It's a win-win for both banks, as well as its customers, Riley said. The merger ensures the banks will remain competitive and allows First Federal to increase its lending limits. And, customers will contin- ue receiving great service and top-of-the- line technology, he said. "The lending limits for commercial cus- tomers will double," Riley said. Both organizations will also benefit from the merger in different ways, Riley said. Bay View will be able to offer its customers a wider variety of products and services, while First Federal will gain new cus- tomers. First Federal is expanding its workforce as well. It plans to hire three new employ- ees, including one commercial lender and two mortgage lenders. The bank is also opening a new branch in Brookfield at the northeast corner of Moorland Road and Greenfield Avenue. The new location will open even more doors for First Federal, Riley said. "It's a high-traffic area and a great place to expand our reach in Waukesha County," Riley said. "And, really, it will serve both Brookfield and New Berlin." First Federal plans to occupy the first floor of the two-story Brookfield building, Riley said. An additional development just to the east of the bank will be a multitenant building, he said. Riley said he expects to obtain final approval from the city of Brookfield at the end of May and will proceed with construc- tion beginning in June. The office will be up and running in the first quarter of 2015, he said. "Even with all of the technology, you still need to have a presence in an area for nor- mal day-to-day functions," Riley said. "You need a place where people can go to open their accounts." The merger and expansion are both exciting opportunities for First Federal and Bay View, Riley said."We both have good people and good staff – it's an equal merg- er," he said. "It's exciting. It's not often that we can create something like this. I feel really fortunate that we have this opportu- nity." www.firstfederalwisconsin.com First Federal to expand reach with Bay View Federal Photo by Charles Auer/ Conley News Service Gary Riley, president/CEO of First Federal Bank of Wisconsin, at his desk recently. Tell your friends about The Fellowship Board's 238335016 HUGE PLANT SALE! 3030 West Oklahoma Avenue (Parking Lot) Hanging Baskets ~ Geraniums ~ Vegetables Foliage ~ Borders ~ Bedding Plants Bring a friend - All are Welcome! Saturday, May 17th 10am-6pm Grace Ev. Lutheran Church 414-384-3520 GRACE KNOW CHRIST MAKE HIM KNOWN GATHER GROW&SOW Contemporary Worship - 8am Bible Study and Sunday School - 9:15am Traditional Worship - 10:30am Welcome To Grace Evangelical Lutheran Church 3030 W. Oklahoma Ave. 414-384-3520 238335071

• Cover