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First National Bank Minnesota Acquisition of State Bank of Belle Plaine


Michael Bresnahan
226 Nassau Street
Saint Peter, MN 56082
State Bank of Belle Plaine to merge with First National Bank Minnesota

Saint Peter, MN (June 28, 2019) – Bancommunity Service Corporation has reached an agreement to acquire the State Bank of Belle Plaine, located in Belle Plaine, Minnesota. Bancommunity Service Corporation, parent company of First National Bank Minnesota, will begin operating the bank after obtaining regulatory approval which is expected in approximately three months. A merger of the two banks will follow early next year. First National Bank Minnesota has offices in Saint Peter, Mankato and Gaylord.

“The State Bank of Belle Plaine is a perfect fit to join our organization,” said Michael W. Bresnahan, President and CEO of First National Bank Minnesota. “The Gatz family has a long tradition of providing superior community banking services to Belle Plaine and the surrounding communities and we look forward to carrying on that legacy. Just as we are committed to providing unsurpassed banking services in the communities we currently serve, we will demonstrate that same commitment and value to the Belle Plaine community.”

State Bank of Belle Plaine President and CEO Paul Gatz shared his thoughts on the acquisition, “The decision to sell our bank was not an easy one. Generations of our family and dedicated bankers have proudly served our customers, our employees, our community and our bank. As we planned for this outcome, it was very important that we partner with a community bank that shared our same values. We have worked hard to earn the trust of our customers and we are confident that the same trust can be afforded to First National Bank Minnesota. They are a strong, successful community bank with a clear vision for their future. To our customers and employees, we say a sincere ‘Thank You’ – we are truly grateful for the relationships we have built, and we look forward to continuing these relationships as First National Bank Minnesota.” State Bank of Belle Plaine President and CEO Paul Gatz and Vice President William Gatz will be retiring when the acquisition is complete. The Gatz family has maintained an ownership interest in the bank for 95 of the bank’s 137-year history.

Bresnahan indicated that the vast majority of the staff at State Bank of Belle Plaine will remain with the bank following the acquisition. “Under the leadership of the Gatz family, they have developed a talented team of top-notch professionals that have served the customers and community very well. We have no intention of changing that,” Bresnahan said.

Chartered in 1857, First National Bank Minnesota is one of the oldest financial institutions in Minnesota. The bank has total assets that exceed $215 million. The merger will result in a bank with over $340 million in assets and more than $35 million in capital. Terms of the agreement were not disclosed.

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About Bancommunity Service Corporation
Bancommunity Service Corporation (BSC) is a bank holding company with consolidated assets of approximately $216 million. Its wholly-owned subsidiary bank has offices in St. Peter, Mankato and Gaylord, doing business as First National Bank Minnesota. The stock of BSC is not publicly traded; however, the shares are generally purchased and held by local residents. First National Bank Minnesota, chartered in 1857, provides superior financial services including personal, business, agricultural banking along with wealth management services. For more information, visit www.fnbmn.com . Member FDIC.


Look out for Social Security Number scams.

Cited: KnowBe4 Security Team – www.KnowBe4.com

Fraudulent Activity

What is First National Bank Minnesota doing to protect your accounts?

First National Bank Minnesota is currently blocking all international transactions that are attempted on your card. In addition, we issue MasterCard debit cards through Fiserv, who provides 24/7 Fraud watch services and temporary card blocking to monitor suspicious activity. If a transaction out of your ordinary spending pattern is attempted on your account, the transaction will likely be blocked and you will receive a call directly from Fiserv Fraud Services, or EnFact. If you have a cell phone, we encourage you to provide this number to First National Bank Minnesota so that you can be contacted as quickly as possible if there is suspected fraud on your account. Cards with confirmed fraud will be closed and new cards issued.

What should you do to protect your accounts?

Monitor your accounts.

If you do not recognize a transaction, please contact us. Do not ignore small-dollar purchases. Criminals will often test stolen card information with small-dollar purchases. You can monitor your account through our online banking (www.fnbmn.com) or our automated phone bank line (888.703.4362).

Change your PIN number.

If you suspect that your PIN numbers were compromised, you can change your PIN number by calling 800-992-3808 and following the prompts.

Review daily card limits.

Your card has daily credit and debit limits to protect the balance in your account. These limits might range from $200 to $1,500.

If you have questions about your daily limit, please contact a Universal Banker at any First National Bank Minnesota location. Routinely check your credit reports. A free annual credit report can be obtained from each of the main credit bureaus (Equifax, Experian and TransUnion) by going to AnnualCreditReport.com. This is the one website authorized by the Federal Trade Commission so do not confuse it with other sites that have “free credit report” in their name.

Please feel free to contact a Universal Banker at any of our locations if you have any further questions regarding this information. At First National Bank Minnesota, we work hard to always put you first and have the protection of your financial information as our highest priority.

Universal Banker

First National Bank Minnesota has embraced the Universal Banker concept within our organization.

This new Universal Banker position will be a combination of a Personal Banker and a Teller. Our goal is to provide a higher level of customer service. The move from traditional banking services involving tellers to a more enhanced, universal delivery for all those “retail-type” transactions, will expand the range of functions and improve skill levels allowing our bank to be more efficient and to improve engagement with our customers.

Open a new account, renew a Certificate of Deposit or simply cash a check with any of our Universal Bankers located in Mankato, St. Peter or the Gaylord offices.


Elder Financial Abuse

The elderly are all too often targets of financial abuse. It’s important for all customers to be aware of this very real issue and learn about ways to help prevent elder financial abuse from happening to themselves or their loved ones. If you have questions or concerns about the safety and security of your finances, you should speak to one of our universal bankers.

Independent Community Bankers Association, Senior Housing Crime Prevention Foundation and First National Bank Minnesota offer the following suggestions on ways to prevent elder financial abuse:

  • Secure all of your valuables in a bank safety deposit box. These valuables can include your Social Security card, passports, credit card account numbers, will and other legal documents, financial statements and medical records.
  • Do not give financial information to callers that contact you and claim to be from established organizations such as your bank or credit card companies, especially if they ask you to wire funds or send them private information. If you are concerned about your bank account, contact First National Bank Minnesota directly.
  • Check your bank accounts and bill statements carefully. You can check them online. For easier reading, you can zoom in to make the statement larger. If you notice unauthorized charges, alert First National Bank Minnesota immediately.
  • Do not give your personal information, such as bank account numbers or PINs, to anyone in a phone call, letter, email, fax or in a text message.
  • Have enough money set aside to support yourself and your immediate family for at least six months in case of an emergency. First National Bank Minnesota can help create a financial roadmap for you and your family.

Elder financial abuse is a rapidly growing problem. We are dedicated to providing educational resources to help our area seniors and their family members on ways to protect themselves against financial exploitation.