ABBOTSFORD — AbbyBank announced in late October that it has acquired State Bank’s assets and liabilities as of Oct. 25.

“This is an exciting time for all of us,” said Craig Stuedemann, president and CEO of AbbyBank, in a news release. “State Bank’s customers will find that our resources allow us to offer expanded services and enhanced opportunities to better serve them and their local communities.”

AbbyBank opened in 1968 and the corporate headquarters remain in Abbotsford. The addition of the Gresham and Shawano locations will increase AbbyBank’s assets to about $550 million, according to AbbyBank. AbbyBank serves customers with additional locations in Appleton, Medford, Wausau and Weston.

As of Oct. 28, customers can use all seven locations for their banking needs.