Corporate Matters

After more than a century of being privately owned by the same family, The State Bank of Bricelyn, Minn., founded in 1899, will merge into Farmers Trust and Savings Bank of Buffalo Center, Minn. The merger, to be completed this month, adds $26 million in assets to Farmers’ $183 million, as well as a rich history in its home town. Included in the deal is Bricelyn Insurance Agency. Farmers Trust and Savings Bank is 80 percent employee owned.

David Flo, State Bank president and the last of his family to control the bank, is retiring and . . .

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