National Bank of Commerce announces completion of Republic Bank merger
National Bank of Commerce (NBC), a local community bank with an 85-year history of supporting the region, announced the completion of their merger with Republic Bank.
The process began in early July, with NBC submitting a merger proposal to the Federal Reserve and the Office of the Comptroller of the Currency (OCC) for federal regulatory approval. Approval was granted on September 17 and officially closed on October 25. At that point, NBC began the process of converting Republic Bank’s accounts, branches and systems into theirs, all while keeping their customers and community informed of the progress. As of today, the process is complete.
National Bank of Commerce now operates 12 local branches across northeastern Minnesota and northwestern Wisconsin, including six former Republic Bank branches that are now full-service NBC locations.
“By merging with Republic Bank, we’re ensuring more local dollars remain in our community,” said James Jarocki, Chairman of the Board of NBC. “For every dollar deposited at National Bank of Commerce, the majority of it is loaned back out to the community to help families buy homes, businesses grow and non-profits thrive. That’s why banking local makes such a powerful difference.”
As an economic engine for the entire region, NBC’s mission is to exceptionally enrich the communities they serve and to be a catalyst to all in achieving their individual dreams. On top of their commitment to keeping local dollars local, they are dedicated to promoting and supporting careers and commerce in northeastern Minnesota and northwestern Wisconsin.
“Our banking team is fully-staffed and ready to help our customers achieve their financial goals for both today and the future,” said Steve Burgess, President and CEO of NBC. “Through our increased legal lending limit, advanced technology, comprehensive products and superior customer service, we will continue to make even more possible for our community.”
National Bank of Commerce is headquartered in downtown Superior and also has banks in Duluth, Downtown Duluth, Esko, Hermantown, Hibbing, Miller Hill, Poplar, Solon Springs, Superior - Midtown, West Duluth and Woodland. The bank’s web address is nbcbanking.com.
