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CorTrust Bank completes First Minnesota Bank purchase

Mitchell, S.D.-based CorTrust Bank NA closed its acquisition of Minnetonka, Minn.-based First Minnesota Bank on Aug. 16, according to its website.

The combined company will have total assets of $1.25 billion, based on June 30 data from S&P Global Market Intelligence.

Market Intelligence also calculates that CorTrust Bank parent Hopkins Financial Corp. will expand in Minnesota by 11 branches to be ranked No. 43 with a 0.20% share of approximately $230.58 billion in total market deposits.

First Minnesota Bank was previously a subsidiary of McLeod Bancshares Inc.