A pair of North Dakota banks will be merging later this year. Unison Bank in Jamestown is acquiring Security State Bank in Wishek.
“Since its beginning, Security State Bank has been in the business of serving its communities and customers,” said Security State President Lorren Henke. “We’re confident that will remain a priority with Unison Bank.”
The $92 million Security State has three branches in Linton, Lehr and Wishek, N.D. As of Sep. 30, it had $25 million in net loans and leases and $76 million in deposits.
“For the past 18 years, Lorren has been involved with Unison Bank as an owner and chairman of our board,” said Unison President/CEO Kelly Rachel. “It makes this transition natural and customers can be assured the values of SSB will not be lost in this merger.”
Founded in 1965 as Stutsman County State Bank, the $389 million Unison Bank has two branches in Jamestown and Gilbert, Ariz.
Terms of the deal, set to close by the end of May, were not disclosed.