York, Neb.-based Cornerstone Bank has completed its acquisition of The Tilden Bank, Tilden, Neb.
The Tilden Bank had $92 million in assets, $60 million in net loans and leases and $82 million in deposits as of Sep. 30. It had three branches in Tilden, Clearwater and Creighton, Neb.
Former Tilden President/CEO Gary Gunderson will serve as vice president and manager of the Tilden branch, while Cameron Mathis will be vice president and assistant manager. Bill Kester will be vice president and manager at the Clearwater branch, and Joyce Blackmore will be vice president and manager at the Creighton branch.
“Cornerstone Bank is pleased to have the opportunity to expand into Tilden, Clearwater and Creighton, and grow our banking operation in this region,” stated Kelly Holthus, Chairman of the Board of Cornerstone Bank. “Cornerstone is committed to serving the smaller communities in the state, and this expansion fits well into our business plan.”
With this addition, the $2 billion Cornerstone has 46 branches in Nebraska.