First State Bank of Sauk Centre, Minn., is merging into its sister charter, Little Falls, Minn.-based Pine Country Bank.
Both banks are owned by Minneapolis-based MidCountry Acquisition. The merger is expected to be completed by Jan. 1.
First State Bank of Sauk Centre has $157 million in assets and two branches in Minneapolis and Sauk Centre, both of which will operate as Pine Country Bank. The number of Pine Country Bank branches will increase to five.
The merger is expected to enable higher lending limits. “It is a great match for both organizations,” said Rob Ronning, president and CEO of $244 million Pine Country Bank. “We look forward to welcoming First State Bank of Sauk Centre customers and team members into the Pine Country Bank family. We have a relationship-focused approach and share similar commitments to serving our customers and communities.”
Pine Country Bank was founded as Royalton State Bank in 1927. Today, the bank has 41 employees. Established in 1880, First State Bank of Sauk Centre has 15 employees.
