Minnwest Bank in Redwood Falls, Minn., has agreed to buy Roundbank in Waseca, Minn.
The $2.4 billion-asset Minnwest said in a press release that it expects to complete the purchase of the $385 million-asset Roundbank by the end of this year. The bank did not disclose the price it will pay.
The proposed acquisition “represents an exciting opportunity for Minnwest to expand its geographic footprint and customer reach,” Doug Karsky, Minnwest’s president and CEO, said in the release.
Minnwest has 32 branches in Minnesota and South Dakota.