American National Corporation to Purchase Western Bank of St. Paul, MN
American National Corporation (ANC) has signed a definitive agreement to acquire Western Bank of St. Paul, Minnesota. The bank will become a wholly owned subsidiary of ANC, a bank holding company headquartered in Omaha, Nebraska that also owns American National Bank, headquartered in Omaha. Western Bank will continue to operate as a separately chartered bank. Both banks will operate within their respective markets as independent banks. The transaction is expected to close in September 2012. Julie Sands Causey, Chairman of Western Bank will join the American National Bank Board of Directors.
Western Bank is very similar to American National Bank in that it is a family owned, independent community bank. It has been in business since 1915. American National Corporation will assume over $400 million in assets which includes five locations in the St. Paul area including St. Paul, Edina, Maplewood, Mounds View and Oakdale, Minnesota.
With combined assets of $2.5 billion, American National Corporation will provide an already strong Western Bank with the infrastructure of products, technology and lending strength to support growth and expansion within the Twin Cities market.
Western Bank customers will receive a letter providing additional details regarding the acquisition and are encouraged to visit www.anbank.com to learn more about American National Bank.
For additional information and details on Western Bank please go to www.western-bank.com.
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