When Main Street Bank, Forest Lake, Minn., failed in August of 2009, it threatened to pull White Rock Bank, Cannon Falls, Minn., down with it. The two banks were owned by BancMidwest Corporation, and most of the senior management was with Main Street Bank; once it failed, White Rock was essentially left to fend for itself.
At the time, Debra Norstad was vice president and operations officer for White Rock Bank. Norstad’s experience and leadership would become vital in keeping the struggling institution afloat for more than a year after the failure of its sister bank until White Rock . . .
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