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Sauk Centre bank to buy Lake Country
By Amy Trang

April 19, 2007

SAUK CENTRE — A Sauk Centre-based business plans to buy Lake Country State Bank.

Sauk Centre Financial Services Inc., the parent company of First National Bank of Sauk Centre, signed a purchase agreement this week for Lake Country State Bank in Long Prairie and Pelican Rapids.

The sale is contingent on regulatory approval and is expected to be completed in the third quarter, said Paul Skorheim, First National Bank president and chief executive.

First National Bank, started in 1902, has its headquarters in downtown Sauk Centre and a branch office in Coborn’s Superstore in Sauk Centre.

Skorheim said the bank had been looking to expand in its geographic area for the past several years.

“We think we can expand our success here in Central Minnesota,” Skorheim said.

He said Lake Country State customers will see additional services once the acquisition is complete.

Those changes could include more variety in home equity loans and home mortgage products.