Great Northern Bank founder and longtime bank Chairman Peter Alworth will be leaving the board of First American Bank a little more than a year after the two – First American Bank and Great Northern Bank – merged here in St. Michael.
An open house for Alworth will be held from 1 to 2:30 p.m. Wednesday, April 15 at First American Bank in the lobby.
Alworth, who joined forces with longtime community banker Paul Ederer to form one of the more powerful community banks in Wright County with Great Northern Bank back in 1999, is leaving to “pursue new interests” according to FAB staff. He remained on the board after Great Northern merged with the Wisconsin-based First American back in February 2014. Alworth helped guide the business through the merger and was essential in the decision to approve a merger with FAB.
“It’s a decision that really turns out to benefit both banks in the long run,” Alworth told North Wright County Today when the merger was made official in early 2014. “Really it creates a lot of different services for both banks, and both are strong pieces in their communities. That won’t change. We talked with a lot of banks about possibilities and this is just a great scenario. It’s a positive transaction that involves two great community banks with no geographic overlap.”
IF YOU GO:
What: Farewell Party for Great Northern Bank/FAB chair Peter Alworth
Where: First American Bank Lobby, St. Michael
When: 1 p.m. to 2:30 p.m. Wednesday, April 15