American National to acquire Stonebridge Bank

Omaha-based American National Bank will buy Minneapolis-based Stonebridge Bank..The $209 million Stonebridge has two branches in Minneapolis and Shakopee, $181 million in loans and $175 million in deposits..Stonebridge will operate as part of American National's Western Bank division, which has five locations in the Twin Cities area. American National acquired Western Bank last year..Stonebridge Chairman and CEO Bill Klein and President David Boyce will join the combined bank, as well as all officers and employees.."We look forward to joining forces with Stonebridge Bank," said Tony Lemaire, president and CEO of Western Bank. "Both banks are known to have skilled bankers serving the unique needs of the Twin Cities. The synergy of combining the specialties and geographies of the two banks is exciting, and will yield benefits to our customers.".The deal is expected to close by the end of September, at which point American National will be a $3.2 billion bank with 39 branches in Minnesota, Iowa and Nebraska.