Forward Bank and First National Bank Receive Regulatory Approval of Purchase April 12, 2019
Forward Bank and First National Bank have received approval from banking regulators to complete the purchase of all the deposit and loan relationships held by First National Bank.
As announced in December, Forward Bank will be assuming all the deposits and loan accounts of First National Bank. The banks are continuing the process of working with the customers in Phillips and Park Falls on the details of the transaction. The transition is expected to close on May 3, 2019.
“We have reached out to all of our customers with letters letting them know of our intention to join with Forward Bank,” commented Tom Armstrong, President of First National Bank of Park Falls. “Our ongoing communications with customers and our community include the details of the transition process and how the move to Forward Bank will benefit them.”
“The team at Forward is excited to complete this transaction and begin our outreach specifically to non-profits in Park Falls and Phillips,” stated Bill Sennholz, President & CEO of Forward Bank. “With the guidance of Tom and his team, we’ll be well on our way to advancing the mission of supporting healthy and successful communities.”