Minnesota

The bank has taken a decisive step to protect its asset quality, but the move also raises questions about what will drive loan growth in the future — and whether the company is on the block.

The company will pay $53 million in cash and stock for Signature Bank.

The Minnesota bank held on to auto loans, sold fewer consumer mortgages and paid more interest on deposits and long-term borrowings as it also redeemed preferred shares in the third quarter.

A deal between Pembina County Bankshares and Drayton Bancor would combine two small banks that operate on both sides of the North Dakota-Minnesota border.

Lakes Area FCU is merging into Members Cooperative CU following heavy losses over the last 18 months.

20 Minnesota credit unions now offer the program, members have put $3.5 million in 5,000 accounts.

Following losses in 2014, the $22 million-asset PCCU has turned a profit for the last two years and was in the black for Q1 2017 and will pay a $400,000 special dividend back to its members as part of the deal.

Citizens will pay about $40 million in cash and stock for the $269 million-asset Wells in a deal set to close in the third quarter.

Johnson Bank in Racine, Wis., has hired the head of JPMorgan Chase’s Wisconsin-Minnesota market as its president.

Minnesota CU has returned more than $2.6 million since rewards program started in 2012.