PRESS RELEASE
National Bank of Commerce to Acquire RiverWood Bank
NATCOM Bancshares, Inc., and their wholly-owned subsidiary, National Bank of Commerce (collectively “NBC”) has 10 branches with over $1.4 billion in total assets. They’ve been dedicated to providing personalized banking solutions for 90 years. It’s a commitment they live every day through their mission to make more possible for the communities they serve.
NATCOM has announced the signing of a definitive agreement with Great River Holding Company and its wholly-owned subsidiary, RiverWood Bank. RiverWood has 11 locations throughout Minnesota in Bagley, Baudette, Baxter, Benson, Bemidji, Big Lake, Crosslake, International Falls, Monticello, and Morris; the company has more than $625 million in assets today.
The combined banks will have an estimated $2.0 billion in total assets.
This acquisition helps ensure local dollars remain in the region and allows NBC and RiverWood Bank to combine their strengths, shared values, culture, and commitment to delivering exceptional customer service while offering their communities the best products and services.
RiverWood Bank is a well-respected financial institution with a strong history of dedicated service to its communities. NBC greatly respects RiverWood Bank’s leadership, associates, and customers. The synergies created by this partnership will undoubtedly enable NBC to serve its customers and communities better, thus further solidifying our position within the industry.
United for Better Service and Community Impact
Support Your Local Community
This merger allows us to keep local funds within the region while combining the strengths of NBC and RiverWood Bank to provide superior products and services.
Greater Reach
This strategic acquisition aligns with NBC’s long-term vision for growth and expansion, enhancing our ability to serve more customers.
An Ideal Partnership
NBC is the perfect partner, sharing our values, culture, and dedication to exceptional customer service. This partnership will create synergies that enable RiverWood to better serve its customers and communities.
What Happens Next?
Here’s the good news: There’s nothing you need to do right now
As for us at RiverWood Bank, here are the key steps in the acquisition process and the general timeframe in which we expect them to be completed. Dates and deadlines may shift, but we are committed to an open, honest, and transparent process. If the dates below change, you’ll be the first to know.
July 29, 2024
Public Announcement
Within thirty days of July 29, 2024
Acquisition Application Submitted to the Federal Reserve Bank of Minneapolis
Within 120 days of the application being filed
Close of the Sale
Est. around November 30, 2024
RiverWood Bank locations become NBC Branches after the sale is approved
Early 2025
Account Migration
- Your RiverWood Bank accounts will become NBC accounts.
- You'll be able to visit any branch in any of the 17 cities we serve.
Still Have Questions?
We are dedicated to making this process as transparent and seamless as possible. If you have any questions about the acquisition, we are here and ready to provide answers.
Contact Us
Thank You for Banking Locally!
Whether you have a personal account or trust us with your business, we deeply appreciate your commitment to banking locally. Every deposit at NBC and RiverWood Bank is an investment in our region. This acquisition brings exciting opportunities for our customers and community, allowing us all to achieve even more together.