NorthStar Bank has announced that it has entered into a definitive agreement to purchase Emmet County State Bank. This transaction is expected to close by the end of the year pending regulatory approval. The merger of the two locally owned banks will enable the combined staffs to continue the banks' commitment to service excellence and provide enhanced credit capacity to their customers. Greater operational and regulatory efficiencies will also be achieved.
The Emmet County State Bank has been owned by the Currell Family since it started in 1927.
"Over the 85 years that we have owned the bank, it has been our privilege to serve our many loyal customers. We have decided to sell our bank to NorthStar Bank in Estherville, Iowa. They are a sound, well-run bank that is also locally owned and that means all decisions will continue to be made locally, just as our customers have always been accustomed to. We think this transition for our customers will be quite easy and that they will notice virtually no change in service and convenience", stated Jim and Greg Currell.
"NorthStar Bank is pleased to welcome the customers of The Emmet County State Bank. We look forward to serving you!" stated Scott Taylor, NorthStar Bank President and CEO. We are honored by the Currell family's choice to allow us to carry on The Emmet County State Bank's tradition for outstanding service to its customers. We are pleased to have the opportunity to bring the combined strength of the two locally owned Emmet County institutions together for the benefit of area farmers, families and businesses. We will work hard to continue to build on the trust and confidence of our customers. As Emmet County's locally owned bank, NorthStar Bank will continue to be especially focused on the particular needs of the customers of this area," he continued.
"NorthStar Agency is pleased to welcome the insurance clients of The Emmet County State Bank
Insurance Agency," said Agency manager Mike Karels. "We look forward to serving you with access to an even greater choice of insurance products and staff."
NorthStar Bank was founded in 1997 and is celebrating its 15-year anniversary this year, while Emmet County State Bank was founded in 1927 and is celebrating 85 years! Both banks have been locally owned throughout their existence. The combined NorthStar Bank with assets of more than $170 million will serve customers with offices in Estherville, Armstrong and Ringsted.