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State Bank of Belle Plaine now operates under Bancommunity Service

Belle Plaine, Minn.-based State Bank of Belle Plaine now operates under St. Peter, Minn.-based Bancommunity Service Corp., the Belle Plaine Herald reported.

The deal for the acquisition of State Bank of Belle Plaine was announced in July.

State Bank of Belle Plaine will merge into Bancommunity Service unit First National Bank Minnesota in April 2020. First National Bank Minnesota will have more than $335 million in assets upon completion of the merger, according to the report.

State Bank of Belle Plaine appointed Michael Ludvik market president. Ludvik has been a senior loan officer with the bank for five years. Aside from the retirement of outgoing State Bank of Belle Plaine President and CEO Paul Gatz and Vice President Bill Gatz, all other employees will remain with the bank.