Bravera Holdings Corp., the multibank holding company for Bravera Bank, is proud to announce the acquisition of Financial Security Bank. Pending regulatory approval and other customary conditions, it is expected to take effect Dec. 2021. With locations in Kerkhoven and Albertville, Minn., Financial Security Bank has approximately $125 million in bank assets.
The organization will be merged into Bravera Holdings Corp., and will continue to operate independently as Financial Security Bank, with Robert Bauman remaining as President.
“We are excited about our future with Bravera,” says Bauman. “For 137 years, we have taken great pride in serving our communities. This new venture will allow Financial Security Bank to expand our services and enhance our customers’ financial success. Our customers will continue to work with the great staff of Financial Security Bank, but will have access to even more opportunities for their banking and financial needs. We share similar values with Bravera. Our cultures of encouraging community involvement will continue as we serve our agricultural, small business and retail customers.”
Bravera looks forward to building on the success of Financial Security Bank and providing additional resources and capacity to expand their banking business. Bravera also provides insurance and wealth management services, and plans to grow those services within Financial Security Bank’s market area.
“This partnership will continue to provide local, community banking and financial services to the Kerkhoven, Albertville and surrounding communities. Bravera is a director- and employee-owned company with approximately $2.5 billion in bank assets along with a $1.6 billion wealth management business and a full service commercial and consumer insurance agency. We look forward to expanding our services to the Minnesota community. We are thrilled that Financial Security Bank has decided to join our team,” says Bravera President/CEO Dave Ehlis.