Heartland Financial USA Inc. of Dubuque, Iowa, which has bought or opened banks in seven states, is planning to enter Minnesota.
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The $3.2 billion-asset Heartland said Thursday that it is forming Minnesota Bank and Trust in Minneapolis. The bank is expected to open next quarter.
Kate Kelly has been hired as the bank's president and chief executive. She had been a regional president for wealth management at Bremer Bank, a unit of the $7.1 billion-asset Otto Bremer Foundation in St. Paul.
Heartland also plans to open a Minneapolis loan production office this year through its Dubuque Bank and Trust Co.
Since 1999, Heartland has bought or opened banks in Arizona, Montana, New Mexico, and Colorado. It also has banks in Illinois, Wisconsin, and Iowa.
