The history of Royal Bank, a wholly owned subsidiary of Royal Bancshares, Inc.
Royal Bancshares, Inc., a Bank Holding Co. was founded October 12, 1990, with the idea of establishing a regional financial institution in Southwest Wisconsin. The newly founded company immediately purchased The Bank of Elroy and the State Bank of Lone Rock. Four banking offices were located in Elroy, Lone Rock, Spring Green and Avoca. The combined assets of the Banks totaled $31,530,676. On June 15, 1991, Royal Bancshares, Inc. purchased the Liberty Bank & Trust of Gays Mills, bringing the total banking offices under the Royal Bancshares’ ownership to five.
On April 1, 1992, the banking charters of Bank of Elroy and the State Bank of Lone Rock merged, forming the financial institution known as Royal Bank. At that time, there were offices in Elroy, Lone Rock, Avoca and Spring Green. Shortly thereafter on February 19, 1993, the Hillsboro Branch of Anchor Bank was acquired by Royal Bank.
On January 16, 1995, Royal Bancshares, Inc. acquired Cobb State Bank, bringing the total number of charters owned to three and the number of offices to seven. In January 1997, Royal Bank, purchased from M&I Mid-State the offices located in Endeavor and Camp Douglas. In June of 1998, the three existing charters owned by Royal Bancshares, Inc. were merged into one charter under the name of Royal Bank. May 9, 1999, Royal Bank acquired another office from M&I Mid-State located in Oxford. In September, 2001, Royal Bank established an office in Dickeyville.
On April 13, 2007 Royal Bank purchased additional offices from Acuity Bank bringing the total number of offices to 14 with assets in excess of $205 million.
On Friday, February 11, 2011, Royal Bank announced its acquisition of the assets and deposits of Badger State Bank, based in Cassville, Wisconsin from the Federal Deposit Insurance Corporation (FDIC). This addition increases our locations to 15 cities to serve the communities of the south central Wisconsin area.