St. Paul's Western Bank acquired by Omaha company

Family-owned Western Bank was sold to a Nebraska holding company, according to the Pioneer Press. Western Bank President and CEO Tony Lemaire, "It's business as usual, except with more products, technology and capacity to provide our customers an even better banking experience."
Author:
Updated:
Original:

Family-owned Western Bank was sold to a Nebraska holding company, according to the Pioneer Press. Western Bank President and CEO Tony Lemaire, "It's business as usual, except with more products, technology and capacity to provide our customers an even better banking experience."

A spokeswoman told the Business Journal no branch closures or layoffs are planned from the acquisition by Omaha-based American National Corp. The deal is expected to close in September.

Next Up

police tape, crime scene

Man and woman, aged 55 and 62, found dead in their home

The St. Louis County Sheriff's Office is investigating.

Gov. Tim Walz

Walz: COVID-19 guidance for Christmas likely to be similar to Thanksgiving

Thanksgiving featured a ban on social gatherings with non-household members.

CCI 3

Mall of America is offering a virtual Santa experience this year

People can virtually tour Santa's Candy Cane Institute.

PD Shimmers 4

Annual guide to finding holiday lights displays in MN is released

More than 80 holiday displays are on this year's list.

duluth police department

Duluth police officer charged in September shooting

The officer, who is a five-year veteran, is charged with two felonies.

Screen Shot 2020-11-30 at 1.31.42 PM

Enbridge gets final approval to start construction on Line 3 replacement

The project has attracted criticism from environmental and tribal groups.

Kirk Cousins

Is it a 4-team race for the final NFC playoff spot?

The key for Minnesota likely requires winning on the road against two top NFC teams.

coronavirus

Nov. 30 COVID-19 update: Hospitalizations reach new high mark

There are fewer than 100 staffed ICU beds available in Minnesota.

Related

St. Cloud-based Stearns Bank buys Georgia banking company

St. Cloud-based Stearns Bank purchased all of the assets of the three-branch Jasper Banking Co. of Jasper, Ga., after regulators shut the bank down Friday, according to the Federal Deposit Insurance Corp. Since 2008, Stearns has purchased eight failed banks in government-assisted sales.

Iconic 1st National Bank Building in downtown St. Paul has a new owner

The historic 662,000-square-foot tower, known for its neon 1st sign, was sold to a New York City investment group for a little more than $19.8 million. The Business Journal notes Houston-based Fairfield Financial Group bought the First National Bank Building in January 2007 for $27.1 million.

Snack company relocates HQ to St. Paul

Flagstone Foods, one of the largest suppliers of trail mix and dried fruit snacks in the U.S., is now based in downtown St. Paul. The Pioneer Press reports the new corporate headquarters will employ about 45 people. Flagstone, previously called Snacks Holding Corp., was formed by San Francisco-based Gryphon Investors in November 2010. The company received $80,000 from the St. Paul Housing and Redevelopment Authority that won't have to be repaid as long as it hires 40 or more people.

Wyoming, Minn. bank fails, is acquired by Central Bank of Stillwater

The RiverBank had been losing money since 2009 and regulators considered it undercapitalized. Its six branches are now part of Central Bank, which has acquired several failed banks over the last two years.

Ecolab to acquire chemical company Champion for $2.2 billion

St. Paul-based Ecolab plans to buy Houston-based Champion Technologies Inc. for about $2.2 billion in cash and stock to complement last year’s purchase of Nalco Holding Co. and grab a larger share of the oilfield-chemicals business, Bloomberg News reports.