In Brief: St. Paul Firm Wraps Up Three-Bank Deal

Dean Financial Services Inc., St. Paul, last week completed its deal for three Minnesota banks.

The $270 million-asset company bought $34 million-asset First State Bank of Eden Prairie, $37 million-asset First National Bank of Aitkin, and $33 million-asset State Bank of Edgerton for an undisclosed amount.

Richard D. Schneider, Dean's president and chief executive officer, said the three banks would retain their charters and original names. The banks would also be able to make "key" lending decisions, he said.

With Dean Financial's original institution, Princeton Bank, the holding company now operates four banks with 11 branches in Minnesota. All but First National Bank of Aitkin are in the Twin Cities metropolitan area.

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