Two Minnesota Banks Combine Operations
American Bank has acquired Americana National Bank of Albert Lea, Minn., along with its branch in Alden, Minn., and its mortgage servicing subsidiary, AmeriNational Community Services.
Terms of the sale were not disclosed. A fourth-quarter 2004 merger is expected, however. John Seidel, president and CEO of American Bank, said the acquisition will help the bank, which operates primarily in the Twin Cities, expand into greater Minnesota.
"The people and businesses in Albert Lea, Alden and the surrounding area expect great customer service, a wide variety of bank services and involvement in their communities. This is the expectation our customers have and what we are committed to deliver."
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