FIG Partners Advised Citizens Community Bancorp In Merger With Wells Financial Corp.

FIG Partners Has Now Completed 34 M&A Transactions
Totaling More Than $2.3 Billion Since 2015

ATLANTA, March 20, 2017 — Citizens Community Bancorp, Inc. (NASDAQ:CZWI) and Wells Financial Corp. (OTCQB:WEFP) have agreed to merge and combine their banking subsidiaries.

mergerIn a transaction valued at $39.8 million, Wells Financial Corp. (Wells), the parent company of Wells Federal Bank, will merge into Citizens Community Bancorp (Citizens), the parent company of Citizens Community Federal, N.A. The transaction strengthens the presence and capacity of Citizens in southern Minnesota.

FIG Partners served as financial advisor to Citizens and provided a fairness opinion to the Board of Directors of Citizens. The FIG team included Bob Kotecki, Principal, and Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking. 

Shareholders of Wells will receive $51.00 per share. The price consists of $41.31 in cash, or 81% of the total consideration. The balance consists of .7636 shares of Citizens common stock for each share of Wells common stock. 

“We are excited about this opportunity to combine two independent community banking franchises into a larger bank serving northwest Wisconsin and south central Minnesota, where Citizens already has three branches,” said Stephen Bianchi, President and CEO of Citizens. 

More information from Citizens is available here.

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