First American Bank, the Hudson, WI-based bank that completed its merger with Great Northern Bank here in St. Michael in February, made it “official” Tuesday morning with a ribbon cutting featuring members of the I-94 West Chamber of Commerce.
Both First American Bank president John Malmberg and former GNB and new First American Bank chair Peter Alworth were on hand to lead the cutting.
For Great Northern customers, the merger will bring no immediate changes. The only initial changes will be the name of the organization and its ability to make loans. By combining the two banks, the size of loans that Great Northern had been able to legally make nearly triples.
Bank hours, staffing and other familiar amenities at the St. Michael location will also stay in place, staff said.