News

Voyager Bank’s Transition To Anchor Brand Finalized

The acquisition brings Anchor’s assets to $1.87 billion.

Anchor Bank has finalized its conversion of Voyager Bank’s four locations—in Mankato, Minnetonka, Eden Prairie and Shakopee— to the Anchor brand following its acquisition of the company.
 
The deal was announced in December and closed in April. The deal made Anchor the sixth-largest bank in the Twin Cities with $1.64 billion in deposits and nearly $1.9 billion in assets.
 
“This is the fifth acquisition in Anchor’s history,” Anchor CEO Carl Jones said in a statement. “We are growing our customer base by 20 percent, and our new locations will provide greater convenience for our clients.”
 
Former Voyager accounts will now be accessible at all 20 Anchor Bank locations and will continue to work with its existing relationship banker.
 
The terms and purchase price for Voyager was not disclosed upon request.