Bank Takes Over Olympia Ski Hill

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SAM Magazine--December 11, 2012--On December 7, ISB Community Bank took over ownership of the Highlands of Olympia ski area in Oconomowoc, Wisc., as well as a golf course, both of which had been operating in receivership. According to The Business Journal, ISB took over the 134-acre property and, in exchange, forgave a $2.3-million debt it held with previous owners. The Highlands of Olympia is slated to open for the season this Friday, and even has a new snow tubing area this year. GM Casey Bingham leases the ski hill, but the lease runs out in April 2013. There is no word as to what the bank's plans are for the area and golf course. The Olympia Resort & Conference Center were not part of the deal.