Mergers and acquisitions
Park State Bank to buy 3 bank offices
Park State Bank, Duluth, a subsidiary of Park Financial Group Inc. based in Minneapolis, announced that it is purchasing Pioneer National Bank and its three offices in Duluth. Pioneer’s corporate roots date to 1857 and it has approximately $82 million in total assets. The purchase is subject to regulatory approval and is expected to close in the first quarter of 2018. Park Financial was represented by Golden Valley-based Oak Ridge Financial.