|Over a quarter ago|
Coulee Bank to acquire loans, deposits from BNC National's Golden Valley branch » 07:1512/3012/30/20
Coulee Bank and BNCCORP…
Coulee Bank and BNCCORP announced that they have signed a definitive agreement for Coulee Bank to acquire certain loans and deposits of the Golden Valley, Minnesota, branch of BNC National Bank, a wholly owned subsidiary of BNCC. Coulee Bank will service the loans and deposits out of its existing St. Paul, Minnesota, office. The transaction is expected to involve approximately $16.5M of deposits and $17.2M of loans based on BNCC's September 30, 2020, balance sheet. It is expected to be completed in the second quarter of 2021, subject to customary closing conditions, including regulatory approval. Terms of the definitive agreement were not disclosed.