Park Financial Group Acquires Mesaba Bancshares
June 30, 2020
Park Financial Group, Inc. agreed to acquire 100% of Mesaba Bancshares, Inc., bringing Mesaba's banks — American Bank of the North and The Lake Bank — into the Park family alongside Park State Bank. The combined organization will operate more than 20 locations with assets approaching $1 billion; the deal is subject to regulatory approval and was expected to close in Q3 2020.
- Buyers
- Park Financial Group, Inc.
- Targets
- Mesaba Bancshares, Inc., American Bank of the North, The Lake Bank
- Sellers
- Mesaba Bancshares shareholders
- Industry
- Financial Services
- Location
- Minnesota, United States
- Transaction Type
- Buyout
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