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Welcome Business Customers
We are pleased to provide you with more information regarding Deerwood Bank’s recent integration with Community Development Bank. The addition of the Ogema and St. Michael branches will enhance Deerwood Bank’s current network of 12 full-service locations throughout Northern and Central Minnesota and the Twin Cities. This expansion allows us to build upon Community Development Bank’s strong community relationships and commitment to superior service.
Important Updates:
- The St. Michael and Ogema branches will close at 4 p.m. on Friday, September 20th, and will reopen as Deerwood Bank on Monday, September 23rd.
- Community Development Bank’s Online and Mobile Banking platforms will be unavailable starting at 4:00 p.m. on Friday, September 20th. Businesses will be able to log in to Deerwood Bank’s Online and Mobile Banking services on the morning of Monday, September 23rd.
We look forward to working with you and continuing to support your financial needs as part of the expanded Deerwood Bank network.
Important Contacts:
Nikoli Saehr
Treasury Management Manager
nikoli.saehr@deerwoodbank.com
651-634-6415
Tammy Koop
VP Treasury Management
tammy.koop@deerwoodbank.com
320-257-3327
Matt Cousino
VP Treasury Management
matt.cousino@deerwoodbank.com
218-316-3503
Kathy Larson
Treasury Management Sales Support Analyst
kathy.larson@deerwoodbank.com
218.316.3526
Frequently Asked Questions:
ABOUT THE ACQUISITION
Who is Deerwood Bank?
Deerwood Bank is a community-based, privately-owned bank founded in Deerwood, Minnesota in 1910. We currently have 12 full-service locations throughout Minnesota. Like Community Development Bank, our business philosophies are based on the belief that, “to be a successful community bank, we must be committed to our communities and have a unique ability to know and serve our markets”.
Deerwood Bank’s footprint includes many of Minnesota’s resort, vacation, and lake markets, which have traditionally been favored destinations for residents of the Twin Cities and Central Minnesota seeking vacation homes and second residences. Community Development’s locations, including servicing the communities of Ogema, White Earth, Waubun, Callaway, Mahnomen, and St. Michael are the perfect complement to Deerwood Bank’s footprint. Deerwood Bank customers and prospects now have the opportunity to seamlessly integrate work, life, and leisure throughout Minnesota, all while enjoying access to Deerwood Bank’s services and support.
Where is Deerwood Bank located?
- Baxter
- Bemidji
- Blackduck
- Brainerd
- Deerwood
- Garrison
- Grand Rapids
- Mendota Heights
- Northome
- Saint Paul
- Sartell & Waite Park
- Ogema & St. Michael coming soon!
ABOUT THE PEOPLE
Will there be changes to Community Development Bank’s staff?
Most Community Development Bank employees will be joining the Deerwood Bank team with the merger.
Who will be the President of the Ogema and St. Michael locations?
Nick Shultz, current President of Community Development Bank, will become a Market President for Deerwood Bank and will remain officed in St. Michael.