In the central community of Stevens Point, Wisconsin, The Pineries Bank serves its commercial and retail customers with a full range of loan and depository products. Established in 1997 with $6 million in assets, the locally owned bank has since grown to $53 million. To help ensure the bank remains locally owned and operated for years to come, The Pineries Bank implemented a profit sharing plan in 2004.
Wipfli performed a custom-tailored valuation to address and satisfy the needs of The Pineries Bank. Through information gathering, analysis, and well-documented valuation methodology, our accredited appraisers worked to determine the appropriate value of The Pineries Bank. In addition to reviewing business conditions and assets at The Pineries Bank, Wipfli examined the relevant economic and industry-specific factors that can affect the market and, subsequently, the Bank’s value.
As a result of the first valuation, The Pineries Bank has confidently relied on Wipfli’s valuation services since 2003. Each year, Wipfli provides an expert valuation opinion in a comprehensive report that determines the bank’s fair market value and gives the bank’s shareholders and plan participants a reliable, trustworthy value.
By working with Wipfli year after year, The Pineries Bank receives an annual valuation that provides consistency over time, helping the bank to maintain a successful profit sharing plan. Because of Wipfli’s deep knowledge of the banking industry, the relationship between The Pineries Bank and Wipfli proved especially beneficial and reassuring throughout the unprecedented economic downturn.
The Pineries Bank saves valuable time and resources by relying on Wipfli’s level of valuation expertise, industry knowledge, and credibility each and every year.
"We have used Wipfli and Kevin Janke for our valuation needs for a number of years. During that time we have considered using firms which we had far less familiarity with, that claimed to do the same comprehensive work at a lower price. As we work through the challenges this recession has caused for the banking industry, we reflect positively on our decision to have our valuations completed by a firm that we trust and know has a thorough knowledge of our bank. Wipfli provides advice that helps us make meaningful and educated decisions. If you have valuation needs, I would strongly recommend Wipfli.”