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home : news : news June 28, 2016

7/18/2013 1:52:00 PM
White Rock Bank merging with First Farmers&Merchants

White Rock Bank will merge with First Farmers&Merchants Bank in late August, combining operations under the name First Farmers&Merchants Bank. All six existing White Rock locations will be renamed as First Farmers&Merchants.

In Cannon Falls, all the retail banking services of First Farmers&Merchants Bank downtown at 123 South Fourth Street will be transferred to the main White Rock branch just down the street past the mall.

First Farmers&Merchants customers will also be able to bank through the current White Rock branch in the Econo Foods grocery store, open seven days a week.

Customers of both banks will still be able to use their existing account numbers and checks.

"Integrating our retail operations will strengthen the level of services we can offer our customers," said Greg Wulf, President of the Cannon Falls First Farmers&Merchants Bank. "The improvements we bring now and in the future will not only increase available resources for our customers, but help us invest even further in our community as a responsible, contributing citizen."

Though the existing First Farmers building on Fourth Street will become non-retail offices, customers will still have access to the ATM machine at that location. No other branch location changes are planned.

Wulf said the downtown building will be used as an operations center with loan processing, bookkeeping, IT and maybe compliance staff. Wulf think up to ten people may work at that building.

Wulf said the merger has been in the works for two years since White Rock Bank was first purchased so they have been able to limit personnel disruptions.

"The merger is simply a consolidation of operations for better use of amenities and benefits," said Wulf. "Our customers will continue to work with the same friendly faces they see every day and the same extraordinary range of personal service and support they have always known."

White Rock Bank locations in the cities of Red Wing, White Rock, Goodhue and Bellechester are also included in the merger. Customers will be able to bank at any branch office, including the current First Farmers&Merchants Bank in Le Sueur.

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