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Eastwood Banks Sold

The Eastwood banks in Winona and Rollingstone will soon be under a new name.
The Rochester Post Bulletin reports St. Paul-based Bremer Bank has purchased Eastwood Bank based in Rochester.

Eastwood Bank operates 13 branch banks including banks in Winona Rollingstone, St. Charles and Houston.

Bremer has 85 branches in Minnesota, Wisconsin and North Dakota.

Approval of the deal is expected in late January of 2015.

Bremer is also has broken ground for a new bank in Eau Claire.

No dramatic changes are anticipated in the Eastwood branches which currently employ more than 185 people.

As of March Bremer had assets of more than 2.8 billion dollars.

The paper says by comparison, Think Mutual Bank in Rochester had 1.5 billion dollars in assets and Winona's Merchants Bank had 1.39 billion in assets.

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