According to a media release, PB Family Bancshares, Inc., of Hastings, MN announced that on January
21st they entered into a stock purchase agreement whereby they will acquire 100% of the stock of Gateway Bank, of Mendota Heights, Minnesota. PB Family is the holding company of Premier Bank Minnesota, based in Hastings with 12 branches and $700 million in assets. Gateway has two branches in Mendota Heights and Edina and $300 million in assets. The media release states that this strategic combination brings together two organizations deeply committed to serving their employees, clients and communities with honesty, integrity, and responsiveness.
KDWA will have more on this story in future reports.