Peoples State Bank Announces Plans to Expand Presence in Milwaukee Market

Wausau, Wis. (September 13, 2019) Peoples State Bank announces plans to expand its presence in the Milwaukee market with a full-service bank location in West Allis.
  • September 13, 2019

Wausau, Wis. (September 13, 2019) Peoples State Bank announces plans to expand its presence in the Milwaukee market with a full-service bank location in West Allis. Peoples, which has been headquartered in Wausau since opening in 1962, has purchased a building at 10725 W. National Ave, West Allis, and will begin remodeling work by the end of September.

Expansion to a full-service location for retail and commercial banking is a natural progression for Peoples, which opened a loan production office in nearby Wauwatosa in 2016. Jeff Musa was hired as the market president for southeastern Wisconsin and began building a team to provide commercial banking services to Milwaukee area businesses. In early 2019, a mortgage lender was added to the staff. 

“We studied several markets throughout Wisconsin, choosing to bring our community banking model to Milwaukee,” said Scott Cattanach, president and CEO of Peoples State Bank. “Our success in Milwaukee to this point proves if you provide a unique combination of big bank experience with small bank delivery, customers will respond favorably.” 

“We were confident that businesses in the area were looking for high customer service standards, knowledge of business lending, rapid response, and custom financial solutions—all of which we’ve been delivering to Milwaukee since 2016,” said Musa. “Our team is excited to extend that same level of personalized, community banking service to retail clients as well.” 

To underscore its commitment to Milwaukee residents and business owners, Peoples will offer a variety of personal and commercial banking products and services, including checking and savings accounts, mortgages, and small and mid-size business loans. 

Peoples began looking for a location to open a full-service banking location in early 2019, closing on the building in late August. The 4,800 square foot facility will be remodeled this fall, with a planned opening in January 2020. Once complete, it will provide walk-in and drive-up service, and will be open Monday through Friday. Peoples in the process of hiring staff to fill a variety of roles. 

“Our goal with Milwaukee is the same as our goal back in 1962 when Peoples was formed on Wausau’s west side,” said Cattanach. “We want to be a ‘can-do’ bank that makes a difference for local business owners and families.” 

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Peoples State Bank is a community bank headquartered in Wausau, Wisconsin, serving north central Wisconsin from nine full service banking locations in Marathon, Oneida and Vilas Counties, as well as loan production offices in Milwaukee and Stevens Point, WI. Peoples provides financial services to business owners and individuals, as well as investment and retirement planning services through Peoples Wealth Management, a division of Peoples. Peoples was founded in 1962 and has total assets in excess of $900 million. PSB Holdings, Inc., the parent company of Peoples State Bank, trades its common stock under stock symbol PSBQ on the OTC Markets Exchange. Peoples is an Equal Housing Lender and Member FDIC. More information about Peoples can be found at bankpeoples.com.

Peoples State Bank

Peoples State Bank is a community bank headquartered in Wausau, Wisconsin, serving north, central, and southeast Wisconsin from ten full-service banking locations in Marathon, Oneida, Vilas, Waukesha, and Milwaukee Counties, as well as a commercial loan production office in Stevens Point, WI.