American Bank Buys Minnesota Mortgage

Published January 30, 2006, 3:00 p.m. EST

1 Min Read

American Bank of Saint Paul, St. Paul, Minn., has announced the acquisition of Minnesota Mortgage Financial Corp. from Gaertner Meiers Inc. for an undisclosed amount.Minnesota Mortgage is a mortgage broker for residential and commercial properties, with offices in St. Paul and Maple Grove, Minn. It will now be operated under the name Minnesota Mortgage Financial LLC, with Brad Thoreen as president and 17 loan originators, American Bank said. "Our current customer base can benefit from the opportunity of increased lending abilities in secondary-market mortgages," said John Seidel, American Bank's president and chief executive officer. The bank can be fund online at http://www.americanbankmn.com.

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