Posts Tagged ‘ Citizens Bank Minnesota Watkins ’

A Glance Back and an Exciting Look Ahead at Citizens Bank Minnesota

Hello everyone!

2020…wow…probably one of the strangest, most unpredictable years in many of our lifetimes. Some of the past years unfortunate events will carry over to 2021, but I am optimistic the future is brighter. 

Even with all of the distractions brought upon us, Citizens Bank Minnesota had a very good year. The acquisition of Farmers State Bank of Watkins and Farmers State Agency of Watkins occurred in April, adding another location with highly qualified staff members to assist with any of your banking needs. Our mortgage department has been very busy assisting clients with purchases and mortgage refinances, and our commercial lenders have been working diligently in administering loans through the Small Business Association Paycheck Protection Program (SBA-PPP).

2021 is going to be another year of growth for the bank – WooHoo! Growth continues to be a high priority for Citizens. As we were extremely excited to welcome the very talented staff from Farmers State Bank of Watkins, we were equally excited to welcome the new staff from the State Bank of Ormsby on January 25th! We continue to be committed to you by increasing locations to serve you, expand staff in key areas to deliver the ‘Ultimate Experience’ and by giving back to our communities through volunteering and donations. The second round of the SBA-PPP loan program was approved a few weeks ago and we encourage all of our commercial and agricultural clients to look into this program and to contact one of our lenders for assistance. Our mission is to help our communities!

The strong bank performance last year and continuing into 2021 could not have happened without the hard work and effort put forth by our staff. This group of employees is extremely talented and have demonstrated their talents this past year more than ever. I truly believe the incredible guidance from our Board of Directors, combined with our staff, insures 2021 will be a great year!

I wish all of you a safe and prosperous year. I hope we all can get out and support our local restaurants and entertainment businesses as things possibly return to a new normal. Thank you for your continued support.

Take care ~ Mark Denn, President/CEO

Citizens Bank Minnesota acquires Farmers State Bank of Watkins

Citizens Bank Minnesota is pleased to announce that an agreement has been reached to acquire Farmers State Bank of Watkins, located in Watkins MN.  Farmers State Bank will merge with and into Citizens Bank Minnesota. In addition to the Bank merger, Citizens Bancorporation of New Ulm, Inc., parent company of Citizens Bank Minnesota, has entered into an agreement to purchase Farmers State Agency of Watkins, Inc., an insurance agency.  An April 18, 2020 closing date is expected for both acquisitions.  

Citizens Bank Minnesota is community-owned and operated with over 144 years of strength and stability.  Being chartered in 1876, it is one of the oldest banks in Minnesota with total assets of $430 Million.  Citizens main office is located in New Ulm, with branch offices in Lafayette, La Salle and Lakeville, Minnesota.  

Citizens Agency is an independent insurance agency representing more than 20 companies with a full-line of insurance products and services. 

Citizens is well known for its energetic community involvement and support for growth and success in the areas it serves.  The bank takes pride in being community-owned with stock widely held by residents of the area.  Bauer Financial, an independent bank research firm, has consistently rated Citizens a 5-Star institution for the past 30 years.  In 2019 Citizens was named New Ulm’s Large business of the year and New Ulm Journal’s Reader’s Choice Award for Best Financial Institution.  For more information, we encourage you to visit www.citizensmn.bank

Farmers State Bank of Watkins was founded in 1914 and has been providing financial services to the town of Watkins and the surrounding area for over 100 years.  The existing staff of Farmers State Bank of Watkins and Agency will continue providing the same quality service for clients, with added benefits of Citizens WooHoo! Banking products, enhanced technology and more to come. “We are excited to be joining with Citizens and believe the transaction will enhance our ability to serve the banking needs of our Watkins customers,” said David Neisen, President of Farmers State Bank of Watkins. 

 “We are excited for Watkins to join the Citizens team and believe they will be a great fit with our culture, which is essential to our continued success,” said Mark Denn, President and CEO of Citizens Bank Minnesota.  “All of ourlocations are high performing and committed to the customers and communities they serve.  We are honored for this opportunity and ready to move forward together and have some fun.”

Dustan Cross, Chairman of Citizens Board of Directors states, “The Board of Directors and the shareholders are proud of the hard work and due diligence undertaken by our Bank’s management team to bring this merger together.  We believe this acquisition will continue our Bank’s long-term strategic goal of smart and sustainable growth to ensure that Citizens Bank Minnesota remains a premier source of financing and other products for all of its customers.” 

Citizens looks forward to serving the Watkins community!

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