Bank merger will benefit FFC, bank institutions Van Fishback representing the Fishback Financial Corporation (FFC) of Brookings, has announced the purchase of Pipestone Bancshares Inc., including its two subsidiary banks, the First National Bank and Trust in Pipestone with branch offices in Luverne, Magnolia and Beaver Creek and the First National Bank in Garretson.
Fishback, president of the First National Bank in Brookings, the largest subsidiary of FFC, believes that this merger will prove to be mutually beneficial to FFC and the recently acquired institutions. "We share a common heritage of active community involvement. This allows us to be responsive to the financial needs of our customers," said Fishback.
As a result of this acquisition, FFC, with total assets approaching $700 million, owns the First National Bank in Brookings, First National Bank of Vermillion, First National Bank of White, the Community State Bank of Milbank, The First National Bank and Trust of Pipestone and the First National Bank in Garretson.
According to the announcement, the combination of financial institutions will provide the corporation with a strong position to serve the growing commercial, agribusiness and retail markets in southwestern Minnesota and eastern South Dakota.