MINNEAPOLIS -- First Bank, the lead subsidiary of First Bank System Inc., said it has completed the previously announced acquisition of Republic Acceptance Corp. from Churchill Financial Services Co.
Republic, a Minneapolis-based commercial finance company, has $35 million of assets. It makes working-capital loans of $100,000 to $1 million, secured by accounts receivable and other assets, to companies with annual revenues of $1 million to $20 million.
The briefs were compiled from staff and wire reports.
