MADISON, WI / ACCESS Newswire / October 1, 2025 / Greenwoods State Bank, a trusted community bank serving Wisconsin families, businesses, and farms since 1893, today announced it will officially begin operating under the new name Bank CMG. The new name reflects the bank’s proud heritage and its future‑focused partnership with Christopher M. George, founder of CMG Financial, who agreed to acquire Greenwoods Financial Group earlier this year.
While the name is changing, customers can expect the same friendly people, hometown service, and commitment to community that have defined the bank for more than 130 years. All branches, account numbers, and digital access will remain the same, and deposits will continue to be FDIC insured. “This change represents growth, not departure,” said Bill McDonald, Chief Executive Officer of Bank CMG. “Our customers will continue to see the same faces and receive the same trusted service they know and value. What’s new is the expanded strength, product depth, and modern tools we can now provide as part of the CMG family.”
Christopher M. George, Founder and CEO of CMG Financial, emphasized the shared values that drive the transition: “Banking should never feel transactional; it should feel personal. That’s why I started CMG more than 30 years ago and why I’m proud to partner with a bank that has been putting people first for more than a century. Together, Bank CMG will combine the heart of a hometown community bank with the innovation and strength of a national financial partner. Our goal is simple: help more families build wealth, security, and community.”
Experienced Leaders Signal a Powerhouse Future
Over the past 18 months, Bank CMG has assembled a powerhouse leadership team to accelerate growth and strengthen its foundation. John Behringer joined as Chief Financial Officer after leading RSM US’s national financial institutions practice, bringing more than 25 years of experience in risk management, audit, and strategic finance. David Panagrossi, now Chief Operating Officer, adds 33 years of investment-banking and portfolio risk management expertise gained at UBS, and James “Jim” Hegenbarth, who was promoted to President in April 2025 after joining the bank the prior year, contributes over three decades of community-banking leadership, including growing Madison’s Park Bank from $150 million to $1.5 billion in assets and serving as vice chair-elect of the Federal Home Loan Bank of Chicago. To complement this management depth, the board of directors has retained all but one of its original members and expanded to 12 seats, adding new voices to advise on safety, soundness, growth, and future strategic transitions. Together with long-time CEO Bill McDonald, and Becky Anhalt, EVP of Retail Banking, this team blends national and community-banking expertise with deep local relationships, positioning Bank CMG for safe, sound, and sustainable expansion.
Expanded Solutions for Home Buyers and Homeowners
Through its partnership, Bank CMG now provides access to virtually every mortgage and banking product available in the market, complemented by a portfolio of proprietary programs that create new, more affordable pathways to the American Dream of homeownership. Among the most innovative is the All In One Loan™, a first-lien home-equity line of credit linked to a checking account that sweeps customer deposits directly against principal. This unique structure allows homeowners to reduce interest costs, pay down their mortgage years faster, and build equity without changing their monthly budget. The bank also offers HomeFundIt™, an online platform that enables family members, friends, and community supporters to contribute funds directly to a buyer’s down payment, helping first-time buyers and young families overcome one of the biggest barriers to ownership. Together with CMG’s complete menu of traditional lending and deposit products, these exclusive solutions are backed by ongoing investments in cutting-edge digital banking technology, from upgraded mobile tools to real-time payment options and data-driven insights, giving customers the flexibility and control to save money, build wealth, and strengthen their financial future.
Commitment to Community and Growth
Bank CMG’s leadership reiterated that the name change and new partnership will not alter the bank’s community roots. Local decision‑making remains central, and all current employees will stay in place. “Together, we will build on the strong foundation established by Greenwoods, while continuing to invest in people and technology for the benefit of customers in the communities we serve,” said Chris George.
With a strengthened executive team and expanded resources, Bank CMG is poised to be a powerhouse community bank, delivering hometown service with the tools, expertise, and scale of a national partner. The bank will continue to hire locally, reinvest deposits in its neighborhoods, and offer innovative programs that help customers build security, opportunity, and community.
About Bank CMG
Founded in 1893, Bank CMG (formerly Greenwoods State Bank) is a Wisconsin state-chartered community bank. For more than a century, we have served families and businesses across the state, earning trust through local decision making, reinvesting deposits in our neighborhoods, and building the personal relationships only a hometown bank can offer.
At Bank CMG, our story is one of consistency and care. We honor the history that shaped us while embracing the future with confidence. Our mission is simple: deliver a broader range of financial solutions and cutting-edge service, grounded in transparency, speed, and care, while staying true to the principles that have guided us for more than 130 years.
Member FDIC. Equal Housing Lender. NMLS ID# 491916 (www.bankcmg.com)
For more information, visit www.bankcmg.com or contact David Panagrossi at dpanagrossi@bankcmg.com.
Contact Information
Dave Panagrossi
dpanagrossi@bankcmg.com
608-471-5415
SOURCE: Bank CMG
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