Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
Small-business owners who like their banking the way it is, take note. At least one aggressive bank acquirer, Associated Bank Minnesota, is looking for more local banks to buy.
John Kimball, the bank’s Minnesota CEO in Mendota Heights, says there are more than 20 independent community banks remaining after a wave of mergers over the past several years, and his bank considers them acquisition targets. “As those opportunities come up, we’re interested,” he says. He wants to grow market share to 10 percent from 2.5 percent now.
Green Bay-based Associated entered Minnesota in 1999 by buying Bank Windsor, Riverside Bank and BNC Financial Corp. In February last year it bought Signal Bank, its largest Minnesota purchase to date with $1.1 billion in assets.
Kimball says he knows that smallbusiness owners usually don’t like to change bankers, but adds that most of his 400 employees remain the same since the purchases. He also says Associated bankers make decisions locally, not back at headquarters.
John Kimball, Associated Bank: 651.554.8634; john.kimball@associatedbank. com
