WILLMAR - North American State Bank, which has offices in Willmar, Belgrade and Elrosa, could soon be purchased by Kensington Bank. If regulatory approval for the acquisition is approved, the purchase could be completed by the end of the year.
Kensington has approximately 50 employees and assets worth around $168 million, with branches in Kensington, Cokato, Herman and St. Cloud. It will be adding North American's approximately $100 million in assets and its 25 employees to its system. The purchase also includes the North American Insurance Agency.
This will be Kensington's third acquisition in three years.
