Skip to main content
You have permission to edit this article.
Edit
MBT Bank to acquire Farmers & Merchants and Citizens State Bank

MBT Bank to acquire Farmers & Merchants and Citizens State Bank

  • Updated
  • 0
{{featured_button_text}}
MBT Bank logo

On July 9, MBT Bank announced the acquisition of Farmers & Merchants State Bank of Blooming Prairie and Citizens State Bank of Hayfield.

With the acquisition agreement, MBT acquires F&M locations in Blooming Prairie and Austin, Minnesota, and CSB locations in Hayfield, Dodge Center, and Mantorville, Minnesota.

“For over 75 years, we have served our communities and customers the way F&M and CSB have," MBT Bank President and CEO Dennis Busta said in a release. "We are excited to have these two family owned banks and their employees become part of MBT Bank.”

F&M has assets of $110 million, according to the release.

“Our identical banking philosophy will provide more and better banking products for our customers, but will also maintain the local, friendly banking environment our customers have grown accustomed to,” F&M President Jim Fiebiger said.

CSB has assets of $130 million, according to the release.

“This is a great opportunity for our banks, staff, and communities to move forward with MBT Bank. Like MBT Bank, our dedicated employees take pride in offering personal customer service,” CSB President Mark Miedtke said.

Subject to regulatory and shareholder approval, MBT Bank expects to close on the transaction in September. Upon the closing of the transaction, MBT Bank will have total assets of $680 million.

MBT Bank already has branch offices in Forest City, Clear Lake, and Lake Mills in Iowa as well as Rochester, Minnesota. To learn more about MBT Bank, visit www.mbtbank.bank or call 641-585-2825.

0
0
0
0
0

Be the first to know

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

  • Updated

Folks attending the 150th anniversary of the Mitchell County Fair will view exhibits, judging, amusement rides, grandstand performances and mu…

Get up-to-the-minute news sent straight to your device.

Topics

News Alerts

Breaking News