Hy-Vee’s First Wahlburgers Restaurant Opens In Minnesota

PYMNTS

Hy-Vee amps up its partnership with the Wahlberg brothers by opening its first Wahlburgers restaurant at the Mall of America in Minnesota. The opening comes as Hy-Vee plans to open another 25 restaurants over the next few years, The Star Tribune reported. Hy-Vee Chief Executive Randy Edeker was not initially interested in the partnership. But I promised him I’d consider it,” Edeker told the newspaper.

Minnesota federal court decision is warning to lead generators

CFPB Monitor

A Minnesota federal district court recently ruled that lead generators for a payday lender could be liable for punitive damages in a class action filed on behalf of all Minnesota residents who used the lender’s website to obtain a payday loan during a specified time period. Under Minnesota law, a plaintiff may not seek punitive damages in its initial complaint but must move to amend the complaint to add a punitive damages claim.

Minority stake sets stage for potential acquisition in Minnesota

BankThink

Community banking M&A Growth strategies MinnesotaPark Financial has agreed to buy shares from one of the founders of Mesaba Bancshares.

KleinBank to sell three branches to Minnesota credit union

BankThink

Community banking Credit unions M&A Branch deals MinnesotaWings Financial Credit Union will also gain about $40 million in deposits and $10 million in loans.

After EMV migration, card fraud plunges at Minnesota FI

ATM Marketplace

In the past four months, the FCU says its fraud rate has dropped 64 percent — despite the fact that only a fraction of card-accepting merchants are set up for EMV transactions

Wings Financial CU Buys Three Branches and Depositors from Minnesota Bank

Keith Leggett's Credit Union Watch

As part of the deal, the credit union will buy branches in the Minnesota communities of Coon Rapids, Otsego and Plymouth. Wings Financial Credit Union (Apple Valley, MN) has agreed to purchase three branches from KleinBank (Chaska, MN). In addition, 4,500 customer of KleinBank will become members of the credit union. Roughly $40 million in deposits and $10 million in loans will be transferred to Wings Financial.

Minnesota heads for “show” in 2014

ABA Community Banking

SNL Report: State is #3 in M&A deal volume Management Financial Trends Lines of Business CSuite Community Banking. 1Management

Former Minnesota credit union CEO charged with $2.5 million fraud

CU Insight

More than five years after the financial collapse of a Minnesota credit union, its former president/CEO will appear in federal court to face allegations that she stole at least $2.5 The post Former Minnesota credit union CEO charged with $2.5

Top post at Stearns Bank passes from father to daughter

BankThink

Kelly Skalicky has succeeded her father as CEO of the Minnesota bank. Women in Banking Community banking Succession planning Career advancement WIB scan Minnesota

Wis. Credit Union to Buy Capital Bank in Minnesota

American Banker

Royal Credit Union in Eau Claire, Wis., has agreed to buy Capital Bank in St. Paul, Minn., from First Sleepy Eye Bancorp in Sioux Falls, S.D. breaking_news community-banking m-a mn sd ia nd dealmaking-strategy

Minnesota League backs winners

CU Insight

Every congressional candidate endorsed by the Minnesota Credit Union Network’s Political Involvement Committee won their races in the midterm elections. We will continue to advocate for Minnesota’s local, not-for-profit credit unions when Congress reconvenes,” MnCUN President & CEO Mark Cummins said. Uncategorized Congress Credit Union Times Minnesota Credit Union Network by: Nicholas Ballasy.

A two-pronged strategy for reaching the underbanked

BankThink

Sunrise Banks in Minnesota offers products and services designed to help underserved communities and works with fintechs that have a similar mission. Community banking Fintech Under-served populations Minnesota

Former Minnesota credit union CEO denies embezzling millions

CU Insight

The post Former Minnesota credit union CEO denies embezzling millions appeared first on CUInsight. Margurite M. Cofell denied most of the allegations by the NCUA that she stole millions while she was the CEO of a the $51 million St, Francis Campus Credit Union in Little Falls, Minn.,

Northern Star Bank in Minnesota Is Closed by State Regulators

Deposit Accounts

Blog Northern Star Bank in Minnesota Is Closed by State Regulators. Northern Star Bank in Minnesota Is Closed by State Regulators. A small Minnesota bank failed on Friday which brings the number of failures in the fourth quarter to four. The small Minnesota bank that failed was Northern Star Bank in the town of Mankato. The Minnesota Department of Commerce closed the bank on Friday and appointed the FDIC as the receiver.

Chemical-TCF: Why this deal, and why now?

BankThink

Community banking M&A Growth strategies Michigan MinnesotaBoth banks' need for scale started the conversation and the lifting of the SIFI threshold helped seal the deal. Here are five takeaways from one of the industry's biggest recent mergers.

Minnesota Fed Chief plans to end too-big-to-fail banks

CU Insight

The post Minnesota Fed Chief plans to end too-big-to-fail banks appeared first on CUInsight. Compliance/Regulation Minnesota Federal Reserve Neel Kashkari Too Big To Fail

Chemical, TCF to merge, creating $45 billion-asset bank

BankThink

M&A Commercial banking Commercial lending Deposits Wealth management Community banking Minnesota MichiganChemical is paying roughly $3.6 billion for the $23.5 billion-asset TCF. The combined company will be based in Detroit, Chemical's hometown, and operate under the TCF brand.

U.S. Bancorp to sell ATM and debit servicing business

BankThink

Regional banks M&A ATMs Debit cards MinnesotaFiserv will buy the business, once known as Elan ATM and Debit Processing, for $690 million.

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The painstaking process to sell a family's century-owned bank

BankThink

The family that owns KleinBank negotiated for employee incentives for nonrelatives and retention awards as part of the Minnesota bank's proposed sale to Old National. Community banking M&A Growth strategies Minnesota

Associated in Wis. to buy risk management consultant

BankThink

Regional banks M&A Risk management Insurance Wisconsin MinnesotaAnderson Insurance & Investment Agency in Minneapolis also specializes in workers' compensation services.

The Chemical-TCF merger that almost wasn’t

BankThink

Community banking M&A Growth strategies Succession planning Michigan MinnesotaThe companies had planned to make Chemical CEO David Provost the new leader before October's market gyrations led them to break off talks. When they revisited the deal, several things changed — including Provost's role.

Choice Financial in N.D. to enter Minneapolis with Venture Bank deal

BankThink

Community banking M&A Integrations North Dakota MinnesotaChoice, which has a history of acquisitions, is buying a financial institution that largely focuses on business banking.

U.S. Bancorp to sell ATM and debit servicing business

Payments Source

Regional banks M&A ATMs Debit cards MinnesotaFiserv will buy the business, once known as Elan ATM and Debit Processing, for $690 million.

ATM 40

Ex-JPM regional exec to join Wis. community bank

BankThink

has hired the head of JPMorgan Chase’s Wisconsin-Minnesota market as its president. Community banking Recruiting JPMorgan Chase Minnesota WisconsinJohnson Bank in Racine, Wis.,

Mark Olson served as Fed governor, PCAOB chair, community banker in 50-year career

BankThink

PCAOB standards Community banking Consulting Federal Reserve Minnesota Washington DCOlson ran a bank founded by his father in his hometown of Fergus Falls, Minn., before a long career in Washington.

U.S. Bancorp letting customers have a hand in product design

BankThink

Bancorp MinnesotaThe regional bank is working with customers to help develop and launch new products, including a small-business credit card. Regional banks Growth strategies Digital banking Credit cards Small business U.S.

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Old National making big leap in Minneapolis with KleinBank purchase

BankThink

Community banking M&A Capital Growth strategies Indiana MinnesotaOld National will have the fifth-biggest deposit market share in the city when it completes the $434 million acquisition.

TCF profits drop on fewer loan sales, higher interest expense

BankThink

The Minnesota bank held on to auto loans, sold fewer consumer mortgages and paid more interest on deposits and long-term borrowings in the third quarter. Earnings Auto lending Commercial lending Minnesota

Small bank's redlining settlement a cautionary tale in fighting the government

BankThink

Community banking Fair Housing Act Redlining DoJ MinnesotaAfter a long battle with the Justice Department over redlining charges, KleinBank caved as legal costs soared.

Two North Dakota community banks to merge

BankThink

A deal between Pembina County Bankshares and Drayton Bancor would combine two small banks that operate on both sides of the North Dakota-Minnesota border. M&A Community banking North Dakota Minnesota

Minnesota campaign aims to eradicate ‘bankziety’

CU Insight

The Minnesota Credit Union Network’s (MnCUN) “Bankziety” program recently gained national attention after being mentioned in an article by The New York Times. Program educates consumers age 21 to 35 about the benefits of CU membership. by: Claire Dragich. The program, which spreads the word to consumers about the benefits of credit union membership, has been a creative and successful effort for MnCUN.

Bridgewater Bancshares in Minn. sets stage for IPO

BankThink

Community banking IPOs Private equity Branch banking Capital MinnesotaThe company could use proceeds from the planned offering to add branches and make bigger loans.

Community lenders tell big tech vendors to get up to speed

BankThink

Community banking Credit unions Fintech Vendor management Jack Henry & Associates Florida MinnesotaSmall banks and credit unions say slow responses and outdated products from the establishment tech vendor can become a drag on their innovation efforts.

Heartland in Iowa to buy Minneapolis-area bank

BankThink

Community banking M&A Capital Growth strategies Iowa MinnesotaThe company will pay $53 million in cash and stock for Signature Bank.

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UMB Financial sells asset manager it obtained in 2015

BankThink

Community banking M&A Asset management Missouri MinnesotaThe Kansas City, Mo., company sold Marquette Asset Management, a business it gained as part of its purchase of Marquette Financial Cos., to the firm's principals.

Fed approves change-in-control application against wishes of Minn. bank

BankThink

Community banking M&A Capital Federal Reserve Minnesota WisconsinThe Fed approved an application giving Natcom Bancshares indirect control over Republic Bank, declining to take into account claims the transaction imperils the target's S corporation status.

Big test for ag lenders: Helping farmers weather trade war

BankThink

Ag lending Agriculture industry Trump administration Trade agreements China Minnesota Iowa IllinoisBanks are adjusting loan terms, making use of federal loan guarantees and working with farmers to find new markets, all in an effort to mitigate the damage from a likely drop in soybean exports.

NCUA’s Metsger hammers federal judge’s field-of-membership ruling

BankThink

Field of membership Lawsuits Rick Metsger NCUA American Bankers Association MinnesotaNational Credit Union Administration board member Rick Metsger says a federal judge overstepped the court's bounds when striking down portions of the agency's field-of-membership rule, but stopped short of saying the regulator planned to appeal the decision.

Citizens Community in Wis. to buy Wells Financial in Minn.

BankThink

M&A Integrations Capital Wisconsin MinnesotaCitizens will pay about $40 million in cash and stock for the $269 million-asset Wells in a deal set to close in the third quarter.

In Super Bowl limelight, U.S. Bank aims to become household name

BankThink

Bank MinnesotaThe bank will step onto the national stage this weekend when the Patriots and Eagles face off at the Minneapolis stadium where it holds the naming rights. It has taken steps to capitalize on the exposure ahead of its expansion into new markets. Marketing Branding Consumer banking Commercial banking U.S.

Minnesota Deal: 1.50% On 28-Month CDs

Bankaholic

The 28-month CD special paying 1.50% APY at SMW Federal Credit Union will take the sting out of the winter for some lucky Minnesota savers. CD Rates 28-month cd cd rates leaderboard certificate of deposit smw federal credit union

KleinBank in Minn. girds for fight over redlining claims

BankThink

Community banking Financial regulations MinnesotaThe Justice Department claims the bank, which has received “satisfactory” ratings in its last four CRA exams, is failing to serve minority neighborhoods around Minneapolis.

TCF faces uncertain future after exiting auto lending

BankThink

Auto lending Regional banks M&A De-risking Growth Strategies Credit quality MinnesotaThe bank has taken a decisive step to protect its asset quality, but the move also raises questions about what will drive loan growth in the future — and whether the company is on the block.