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Home Blog Park Bank Backing the Usona Institute’s Groundbreaking Research
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MADISON, WI (January 2022) — Park Bank is excited to be the lead financial institution backing the new Usona Institute that is under construction in Fitchburg, WI. Scheduled to open in 2023, the $60 million, 93,000 square-foot campus will serve as the new home for Usona’s existing team of 30 employees and include space for therapy, training, and education.

The not-for-profit medical research organization conducts and supports pre-clinical and clinical research around the therapeutic effects of psilocybin and other psychedelic medicines. In 2019, Usona launched a Phase 2 clinical trial, the first randomized, double-blind, placebo-controlled study of single-dose psilocybin to treat patients with major depressive disorder.

“Park Bank is proud to be a supporter of innovation in our community,” said Jim Hegenbarth, President and CEO of Park Bank. “By backing the Usona Institute, we are helping to further groundbreaking scientific research while also encouraging other major businesses to build in Dane County.”

The new Usona Institute Campus will be a global center to bridge training and education across academic discovery, clinical research and best practices in developing models for future approved therapies.

For more information on the Usona Institute, visit

For more information on Park Bank, visit or call 608.278.2801.




About Park Bank

With convenient locations throughout Dane County, Park Bank blends financial technology with individualized, proactive service in order to help clients achieve their goals. From individuals and families to nonprofits and businesses, Park Bank has over 50 years of experience bringing clients’ ambition to fruition. As the longest-serving Madison-based community bank, Park Bank is driven to create an ever-stronger community through collaboration with nonprofit organizations focused on diversity and inclusion, paid volunteer time for associates to give their time and energy to causes that matter to them, and deepening charitable impact in order to help create positive change in the communities Park serves. Learn more at or call 608.278.2801 for more information.