Bell State Bank & Trust Agrees to Purchase First National Bank
State Bankshares, the holding company that owns Bell State Bank & Trust in Fargo, has entered into an agreement to purchase First National Bank, with locations in Hawley and Dilworth, Minn. Completion of the purchase is subject to regulatory approval.
“Hawley and Dilworth are great communities with strong ties to Fargo-Moorhead,” said Richard Solberg, chairman and CEO of Bell State Bank & Trust. “With $93 million in assets, First National Bank has been a solid community bank providing outstanding personal service.”
There are approximately 20 employees at the Hawley and Dilworth locations.
“The First National staff looks forward to becoming a part of the Bell State Bank & Trust organization,” said Rick Schultz, First National Bank president.
First National Bank was chartered in Hawley in 1905. Owner Curt Neumann joined the bank in 1984; his son, Jon, joined the staff in 1994. Following the purchase by Bell State Bank & Trust, the Neumanns will no longer be involved in the bank’s operation.
“We felt that Bell State Bank & Trust maintains the same community bank values that we have always had,” said Curt Neumann. “We didn’t look elsewhere, because we are confident that Bell State Bank & Trust will be good for our customers and the communities we serve.”
With assets of more than $2 billion, Bell State Bank & Trust is the largest independently owned bank in Minnesota, North Dakota and South Dakota. Bell State Bank & Trust operates 14 bank locations in Fargo, West Fargo and Wahpeton, North Dakota, and Moorhead, Audubon, Detroit Lakes, Pelican Rapids, Fergus Falls and Alexandria, Minnesota, as well as trust offices in Fargo and Bismarck.