EXHIBIT (a)(5)
NEWS RELEASE
MID-WISCONSIN FINANCIAL SERVICES, INC. WILL TENDER FOR
UP TO 90,557 SHARES OF ITS COMMON STOCK
MEDFORD, Wisconsin (December 15, 2000) - Mid-Wisconsin Financial
Services, Inc. (OTC Bulletin Board - MWFS) announced today that it will
commence a tender offer to purchase up to 90,557 shares of its issued
and outstanding common stock for $25.50 per share. The tender offer
will begin today, December 15, 2000, and will expire, unless extended,
at 5:00 p.m., CST, on Wednesday, January 31, 2001.
The terms of the tender offer are contained in the Offer to
Purchase and Transmittal Form being mailed to its shareholders today.
The offer provides for the acceptance of all tenders by shareholders
who own odd lots (fewer than 100 shares). In the event that more than
90,557 shares are tendered, shares (other than odd lot tenders) will be
accepted for purchase on a pro rata basis. However, the Company has
also reserved the right, in its sole discretion, to purchase more than
90,557 shares pursuant to the Offer.
Gene C. Knoll, President and CEO of the Company, said: "The
Company is making this offer after careful consideration of our capital
needs and the market for our stock. The holding company now has more
capital than is needed to satisfy applicable bank regulations. Even
after considering future growth, our capital level is also higher than
the Board believes can be used to best advantage in our normal banking
operations. In addition, partly as a result of the limited trading
market for our stock, the Board believes that the stock recently has
been undervalued in market quotations. Based on these considerations,
the Board believes that shareholder interests would be better served by
using some of our excess capital to repurchase our own shares."
This news release is neither an offer to purchase nor a
solicitation of an offer to sell the Company's common stock. The offer
is made only by the Offer to Purchase dated December 15, 2000, and the
related Transmittal Form. On November 30, 2000, the bid and ask
quotations for Mid-Wisconsin common stock on the OTC Bulletin Board
were $21.50 and $26.00 per share, respectively.
Shareholders may contact Gene Knoll, William Weiland, or Mary
Sarver at 715-748-8300 or 1-800-643-9472 for more information
concerning the tender offer.
Mid-Wisconsin Financial Services, Inc. is the holding company for
Mid-Wisconsin Bank, a $319 million independent community bank serving
numerous communities throughout central Wisconsin.
