UBB moves east with Ohio merger

United Bankers' Bank, Bloomington, Minn., has announced it will merge with Great Lakes Bankers Bank, Worthington, Ohio. Under the agreement, which was signed on Feb. 17, the combined bank will do business as United Bankers' Bank and will remain headquartered in Minnesota with an office, operational personnel and calling officers located in Worthington. The merger is pending approval from the Federal Reserve Bank of Minneapolis. ."By combining our two bankers' banks, community banks in Ohio and Michigan will have a stronger, better capitalized partner to provide expanded services and greater financial muscle," said William Rosacker, president and CEO of UBB. .The combined UBB will have some $905 million in assets. UBB, which served banks in Michigan before the merger, will now serve the 200 community bank customers of GLBB in Ohio and Michigan. UBB's currently serves over 800 community banks located throughout Minnesota, Montana, Wyoming, South and North Dakota, Nebraska, Iowa, Washington, Oregon, Idaho, Illinois and Michigan.. Both holding companies – United Bankers' Bancorporation, Inc., Bloomington, and Bankers Bancshares, Inc., Worthington – along with their banks and respective subsidiaries, will merge and provide enhanced correspondent products and services to community banks. "Simply put, the merger of these two institutions means community banks will be able to compete with anyone," said Dick Behl, chairman of UBBI and president of Farmers & Merchants State Bank of Scotland, S.D. "That's good for the banking industry. It's good for our shareholders and customers. And it's good for the communities they serve.""In this competitive banking environment, it's more important than ever to maintain a strong, viable bankers' bank so community banks won't be forced to do business with competitors, or lose business entirely," said Charlotte Martin, president and CEO of GLBB.UBB's product portfolio will supplement and expand the services already offered by GLBB, Rosacker said. "Our two organizations are a great match, philosophically, structurally and culturally," he said. "The community bankers who founded the bankers' bank movement in Minnesota 40 years ago knew they needed a strong, independent correspondent bank in their corner. Ohio community bankers built GLBB on the same tradition of putting the success of their community bank customers first. None of this will change," he said.