PSBank Holding

Increasing shareholder value by diversifying into other income categories and expanding the bank's credit assessment area beyond Milan and Appleton, Minnesota.

  • Stage $10M in TTM Revenue
  • Industry Financial Services
  • Location Milan, MN, US
  • Currency USD
  • Founded March 1915
  • Employees 9

Company Summary

$2.2 Million of the $10 Million of new capital will be used to acquire 695 Milan shares from the majority shareholder at a set price of $3,165 per share pursuant to a Stock Purchase Agreement, such purchase will vest the new investors with majority ownership. $300K of the new capital will be invested in T1 capital of the bank and to be used to expand the bank's assessment area beyond Milan and Appleton Minnesota.

Team

  • Erick Thompson
    Bank and Bank Holding Company Chairman-Director Risk Management Officer Member of Compliance & QC Committee

    Thompson has been Chairman of Prairie Sun Bank since July 1992, serving about half that time as CEO or Co-CEO (not currently), and is the de facto overall Risk Management Officer for the bank. He has three degrees from Stanford University, including an MBA.

  • Mark Thorsland
    Bank and Bank Holding Company President-Director Risk Management Officer (functional) Member of Compliance & QC Committee

    Thorsland has been with Prairie Sun Bank over 30 years.

Advisors

  • Wilford Wendell De Keesee, Esq.
    Unconfirmed
    John Heath, Esq.
    Unconfirmed

Previous Investors

  • Emile Auguste
    Cecil McNab, Esq.
    Unconfirmed
    Michael W. Jones
    Unconfirmed

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