Ameri Financial Group., Inc., of Stillwater, Minn., has merged its two banks into a single charter: Eagle Valley Bank of St. Croix Falls, Wis., has merged into First Resource Bank of Lino Lakes, Minn. First Resource Bank now has four offices and nearly $200 million in assets.
First Resource Bank, founded in 2005, had one office and $46 million in assets prior to the merger. In addition to its Wisconsin base, Eagle Valley Bank had Minnesota offices in Stillwater and Apple Valley. The merger of the banks was finalized on April 16.
John Seidel is president and CEO of Ameri Financial Group, which was formed in 2016.