Fargo, N.D.-based Bell State Bank & Trust has announced its purchase of The Business Bank and its Prime Mortgage division, both based in Minneapolis.
According to Bell State Bank, the acquisition will create a company that, combined, originated nearly $3 billion in mortgages in 2012.
‘We look forward to many great years ahead as we continue to grow,’ says Michael Solberg, president of Bell State Bank & Trust. ‘We believe the acquisition of the Business Bank and its mortgage lending division, Prime Mortgage, combined with our current Twin Cities operations, will create an even more powerful banking and mortgage presence in the Twin Cities and greater Minnesota.’