THE FIRST NATIONAL BANK OF HENNING TO ACQUIRE THE EVANSVILLE AND DETROIT LAKES BRANCHES OF FIRST SECURITY BANK – SLEEPY EYE
The First National Bank of Henning (“FNB”), with offices in Ottertail, Battle Lake and Henning, Minnesota, announced today that it has entered into an agreement to purchase the Evansville and Detroit Lakes branches of First Security Bank – Sleepy Eye (“First Security”), which is headquartered in Sleepy Eye, Minnesota.
FNB’s Chairman and CEO, Jim Espeland, said “We are pleased to reach this agreement with another long-standing, community bank like First Security Bank – Sleepy Eye.” FNB expects the transition to be completed, pending regulatory approval, in the first quarter of 2024. The transition should be seamless to the Evansville and Detroit Lakes branch customers.
FNB’s President, Randy Dorn, stated “The First National Bank of Henning has been a part of the northern Minnesota area for over 120 years, and it was a natural decision for us to expand in these communities. We extend our warm welcome to the Evansville and Detroit Lakes customers of First Security, and look forward to further building banking relationships in these communities. The employees and commitment to the Evansville and Detroit Lakes branch customers will not change. Customers will be dealing with the same individuals that they deal with today.”
First Security Bank’s President, John McGee, stated that “First Security Bank has enjoyed a great relationship with the communities of Detroit Lakes and Evansville and its customers in those communities. At this time, First Security Bank is electing to focus on its other geographic markets. We truly appreciate everything the Detroit Lakes and Evansville customers have done for our bank.”
After the acquisition is consummated, the Evansville and Detroit Lake branches of First Security will become branches of FNB, and will continue to offer a full array of banking services to their customers. FNB has additional nearby locations in Ottertail, Henning and Battle Lake. “Our bank has a strong tradition of high quality service and customer experience, and building close relationships with the communities we serve,” says President Dorn.