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Minnetonka-based First Minnesota Bank will acquire the assets of 1st Regents Bank in Andover, which was shuttered by regulators.
Barbara Kaye Rechtzigel, former senior operations manager at Minnwest Bank in Marshall, embezzled money for her personal use, primarily to pay off shopping debts.
Net income climbed 5.2 percent as revenue rose modestly in the fourth quarter, closing out a strong year for the bank-holding company.
Bell State Bank & Trust’s parent company is acquiring Minnetonka-based The Business Bank and its mortgage division; together, the two companies originated nearly $3 billion in mortgages last year.
U.S. Bancorp said that its portion of the $8.5 billion settlement includes $80 million in cash and about $128 million in mortgage assistance services; Wells Fargo, meanwhile, will pay $766 million in cash.
Shares of U.S. Bancorp and TCF Financial Corporation—the state’s largest bank-holding companies—climbed about 17 percent last year.
The hacker group that claimed to have disrupted several national banks’ websites in September appears to have launched a second round of attacks, and Minneapolis-based U.S. Bancorp is once again a victim.
U.S. Bancorp CEO Richard Davis anticipates “substantially lower” revenue growth next year, due to which the company plans to open fewer branches.
Steven Spiegel will replace Brent Moen, who has held the top financial post at Regis for less than two years.
The Minneapolis-based company said that the newly formed credit union will have about $500 million in assets; current Thrivent Financial Bank clients will become member-owners of the credit union.
Target Field Legends Club - Carew Atrium
June 06, 2013
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