Cetera Enters Agreement to Grow Wisconsin-Based Investment Services Program

Wisconsin-based First Citizens State Bank has entered into a network agreement with Cetera Financial Institutions to support and grow its investment program called First Citizens Investment Services.

First Citizens State Bank operates four branches in three Wisconsin cities and reported approximately $465 million in assets as of Sept. 30, 2024. First Citizens State Bank was founded as the First National Bank of Whitewater just months after the enactment of the National Banking Act of 1863. After surviving the Great Depression, the bank merged with Citizens State Bank in 1931 to become First Citizens State Bank.

“We are pleased to welcome a bank with as rich a legacy as First Citizens State Bank to the Cetera family,” said LeAnn Rummel, president and chief executive officer of Cetera Investment Services. “We can already see how well this bank’s culture fits within our own and we look forward to helping First Citizens State Bank grow and enhance its already thriving investment program.”

“In Cetera, we’ve found the same excellent customer service and experience that we expect to pass down to our own clients,” said Nate Parrish, president of First Citizens State Bank. “We know that Cetera Financial Institutions’ small-firm feel combined with the backing of Cetera’s unparalleled technology and tools will help us efficiently manage and service our clients’ needs. Their reputation supporting bank programs gives us all the more confidence that we have made the right move for the future of First Citizens Investment Services.”

Cetera Financial Institutions is a community within Cetera Investment Services that supports the investment programs of over 450 banks and credit unions and reports a retention rate of 99% for all institutions.

Cetera Financial Group, which is owned by Cetera Holdings, serves approximately 12,000 independent financial professionals and their teams, including tax professionals, banks, and credit unions in providing financial planning and wealth management services. Cetera Financial Group refers to the network of independent retail firms encompassing, among others, Cetera Investment Advisers LLC, a registered investment adviser, and the following FINRA/SIPC members: Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. Cetera oversees more than $545 billion in assets under administration and $224 billion in assets under management, as of Sept. 30, 2024.

Click here to visit The DI Wire directory page.