[Press Release] CorTrust Bank Finalizes Acquisition of First Minnesota Bank

CorTrust Bank, N.A. announced August 16, that the previously publicized acquisition of First Minnesota Bank has been finalized. The acquisition was first announced on May 28, and brings the number of CorTrust Bank locations to 15 in Minnesota, along with 22 locations in eastern South Dakota.

CorTrust Bank and First Minnesota Bank share similar core values of personalized customer service, embracing local businesses, and honoring community ties. Both banks are family owned and have a long-standing legacy of excellence in community banking.

“The decision to acquire First Minnesota Bank aligned with our strategic growth plans in the Twin Cities market area, as well as our desire to continue providing customers with the quality community banking experiences they have come to expect,” said Jack Hopkins, President and CEO of CorTrust Bank.

Jay Gikas, CorTrust Bank Market President in Minnesota stated, “Customers will experience the same level of customer service that goes hand-in-hand with banking locally. We know our customers and understand their financial needs, making us true relationship leaders.”

In addition to quality customer service and a commitment to the communities they serve, CorTrust Bank will offer enhanced banking products, greater access to technology, and larger lending limits for businesses. Customers can also rest assured knowing they will continue seeing the friendly faces they have come to know when they walk into a CorTrust Bank location. In addition to a wider array of products and services, customers will also see an increased presence in the community as CorTrust Bank values giving back to and helping communities thrive.

About CorTrust Bank

Since 1930, CorTrust Bank has served the needs of individuals and businesses throughout 16 South Dakota Communities and 15 Minnesota Communities with 37 branch locations. What started as a small operation serving the needs of local farming families in Artesian, SD, has today grown into a fourth-generation family-owned community bank with almost $1.2 billion in assets and $134 million in equity and reserves.