CorTrust Bank in Mitchell, S.D., has acquired a one-branch bank in Blaine, Minn.
The $680 million-asset CorTrust bought Blaine State Bank, the Minneapolis/St. Paul Business Journal reported in its online edition Friday. Blaine State had $36 million in assets at Dec. 31; the bank lost $324,000 last year, according to regulatory filings. The report did not say how much CorTrust paid; a call to the company seeking that information was not immediately returned.
CorTrust earned $6.5 million last year.