Corporate Matters: Twin Cities group acquires struggling bank
EastBank, Minneapolis, has been fully absorbed by University Financial Corp., Inc., Saint Paul, Minn., which does business as Sunrise Community Banks. EastBank’s sole location in Dinkytown – a collection of unique shops serving University of Minnesota students – has been closed.
The $16 million EastBank opened in 2000 with a specific mission to serve minorities, immigrants, and non-profits. It sputtered along for five years before being handed . . .
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