It’s been a mainstay at the corner of County Highway 19 – aka Labeaux Avenue – and 57th Street Northeast since Albertville’s development burgeoned in the 2000’s.
Financial Security Bank concluded its run in Albertville this month, merging with Bravera Bank, another financial power with midwestern roots. Bravera is keeping much of the staff – if not all – in the transition, including local President Ted Sirianni, who addressed the transition with a lengthy, public social media post on Monday, Feb. 12, 2024.
“I am very excited about our transformation into a branch of Bravera Bank,” Sirianni posted. “Over the past two years, I have gotten to know many of the people in the Bravera network – nice (good mid-Western) people – smart, competent, and helpful. Bravera President and CEO Dave Ehlis – as busy as he is – has come to our branch to meet with our team members and customers over a dozen times in the past 24 months. It starts at the top, and he exemplifies the importance of the relationships within our bank and with our customers.”
With locations in Kerkhoven and Albertville, Minn., Financial Security Bank has approximately $125 million in bank assets.
The organization was merged into Bravera Holdings Corp. back in 2021, and operated independently as Financial Security Bank, with Robert Bauman remaining as President until making this branding transition in 2024. Bauman also addressed his retirement in a social media post and wished his team and former employees the best.
“We are excited about our future with Bravera,” Bauman said when the transition was first announced in 2021. “For 137 years, we have taken great pride in serving our communities. This new venture will allow Financial Security Bank to expand our services and enhance our customers’ financial success. Our customers will continue to work with the great staff of Financial Security Bank, but will have access to even more opportunities for their banking and financial needs. We share similar values with Bravera. Our cultures of encouraging community involvement will continue as we serve our agricultural, small business and retail customers.”
Bravera leadership state they look forward to building on the success of Financial Security Bank and providing additional resources and capacity to expand their banking business. Bravera also provides insurance and wealth management services, and plans to grow those services within Financial Security Bank’s market area. Providing that growth includes the expansion to the bank building in Albertville. “This partnership will continue to provide local, community banking and financial services to the Kerkhoven, Albertville and surrounding communities. Bravera is a director- and employee-owned company with approximately $2.5 billion in bank assets along with a $1.6 billion wealth management business and a full service commercial and consumer insurance agency. We look forward to expanding our services to the Minnesota community. We are thrilled that Financial Security Bank has decided to join our team,” says Bravera President/CEO Dave Ehlis.