Thomas Bolger, chief executive officer of Johnson Financial Group and Racine-based Johnson Bank, and Helen Johnson-Leipold, chairman of the board, announced that the previously announced Johnson family investment of $235 million in the company has been approved by the Federal Reserve Bank.
With the additional investment, the bank’s capital ratios will be above the Fed’s well-capitalized threshold.
“This commitment by the family ensures that we will remain independent, privately-owned and focused on meeting the needs of our local customers and communities for the long term.” said Johnson-Leipold. “As we continue to enhance our services and delivery and the banking landscape continues to change, we see tremendous opportunity ahead.”
Johnson Bank occupies a unique position as a privately-held, family-owned company headquartered in Wisconsin.
“Businesses and customers are looking for a strong, local bank that will take the time to understand their unique needs and build a lifelong relationship,” Bolger said. “This investment allows us to help our customers succeed and contribute to the growth of our communities.”
