American Bancor, Ltd. announces acquisition of Citizens State Bank and Citizens Insurance Agency of Finley, N.D.
BISMARCK, N.D. – American Bancor, Ltd., the multibank holding company for American Bank Center, is proud to announce the acquisition of Citizens State Bank and Citizens Insurance Agency. Pending regulatory approval and other customary conditions, this is expected to officially take effect in April 2021. With locations in Finley, Northwood and Cooperstown, N.D., Citizens State Bank has approximately $135 million in bank assets. Citizens State Bank and Citizens Insurance Agency are locally owned institutions which have been in the Sayer family for more than 76 years.
The organizations will be merged into American Bancor, Ltd., but will continue to operate independently as Citizens State Bank and Citizens Insurance Agency, with Chad Aberle remaining as President.
“We are excited about our future with American,” says Aberle. “For 85 years, we have taken great pride in serving our communities. This new venture will allow Citizens State Bank to expand our services to enhance our customers’ financial success. Our customers will continue to work with the great staff of Citizens State Bank and Citizens Insurance Agency, but will have access to even more opportunities for their banking and insurance needs. We share similar values with American. Our cultures of encouraging community involvement will continue as we serve our agricultural and small business customers.”
American looks forward to building on the success of Citizens State Bank and providing additional resources to expand their banking, investment and insurance businesses.
“This partnership will continue to provide local, community banking and financial services to these towns and the surrounding areas. American’s roots are in serving agricultural customers in rural communities and we look forward to continuing to expand our geographic presence in North Dakota. We are thrilled that Citizens State Bank and Citizens Insurance Agency have decided to join our team,” says American President and CEO Dave Ehlis.
American is a company of advisors who work directly to contribute to the financial stability and growth of every community in which it belongs.
To learn more about American, visit WeAreAmerican.bank. To learn more about Citizens State Bank, visit csbfinley.com.
Comprised of American Bank Center, American Insurance Center, American Trust Center, United Community Bank, Prairie Mountain Bank, Beartooth Bank, Central Insurance Agency and now Citizens State Bank and Citizens Insurance Agency, American is an employee-owned financial institution that offers customers a complete financial services package. With multiple locations throughout North Dakota and Montana, American’s commitment to its communities is illustrated through financial contributions to community incentives and fundraising events. To learn more, visit WeAreAmerican.bank.