Arden Hills, Minn.-based Frandsen Financial Corp. completed its acquisition of Peoples Bank Midwest on Oct. 7, according to the Hayward, Wis.-based bank's website.

Peoples Bank Midwest was a subsidiary of Hayward Bancshares Inc. before the sale.

As of June 30, Frandsen Financial had total assets of $1.72 billion and Peoples Bank Midwest had total assets of $384.5 million, according to S&P Global Market Intelligence data.