TS Banking Group Affiliate Acquires Farmers State Bank of Crosby
By: Kelsey Stupfell
Published: 01/01/2015
Treynor, IA – January 1, 2015 – As of January 1, 2015, the TS Contrarian Bancshares, Inc. has officially acquired Farmers State Bank of Crosby, in Crosby, ND, with banking assets of $ 65 million and Hanisch Bankshares, Limited from Paul Hanisch.
The TS Banking Group is a joint venture between Treynor Bancshares, Inc., the bank holding company of Treynor State Bank (TS Bank), with banking assets of $290 million; and the newly formed bank holding company, TS Contrarian Bancshares, Inc. The TS Banking Group and two affiliated bank holding companies are headquartered in Treynor, IA, near Omaha, NE.
The TS Banking Group is a dedicated community banking group focused on upholding a community bank management philosophy with the purpose of acquiring community banks in the upper Midwest. The overall objective of the acquisition strategy is to expand an organization with a client?focused operating efficiency that allows for the long?term prosperity of community banking.
Farmers State Bank of Crosby will merge with The Bank of Tioga and remain a full service bank with expanded services. Debbie Axtman will serve as the Branch Manager of the Crosby location, and a new Market President will be hired for this location, along with other new employees to work alongside the current team.
“I have worked for Farmers State Bank and the Hanisch family for many years, but am very excited for the changes coming under the new ownership of TS Banking Group and with The Bank of Tioga. I am very impressed with the goals that TS Banking Group has for reinvesting in our local community and working with our area schools to teach financial literacy, as well as providing some new services to our clients,” stated Debbie Axtman, Farmers State Bank of Crosby, Vice President and Branch Manager.
The tentative plans for the merger of Farmers State Bank of Crosby into The Bank of Tioga will be to maintain FSB Crosby as a separate bank charter until early in 2015 after signage and other name changes can be made. Then in August 2015 the FSB Crosby banking systems will be converted into The Bank of Tioga system. At the time of conversion, clients will then see a new bank website and have access to new products and services including a mobile banking app.
There will be communication with clients in the future prior to any changes that will be made related to their current accounts, such as how to handle old check stock, debit cards, and internet banking logins.
In the future, the TS Banking Group will look to assist both the Tioga and Crosby banking locations in providing Wealth
Management and Trust Services. Additionally, leading?edge banking technology for clients such as a mobile banking app, person to person mobile payments, mobile deposit capture, as well as remote deposit capture and cash management services for business clients will be offered.
“We look forward to working with the employees of Farmers State Bank to serve the Crosby community and surrounding area. We will work hard together to earn clients trust and confidence,” stated David Grubb, The Bank of Tioga, Market President.
About TS Bank and TS Banking Group:
Treynor State Bank was chartered in 1923, branded to TS Bank in 2005, and was the beginnings of the TS Banking Group. TS Bank is a locally owned, community bank with $288 million in assets. In addition, TS Bank has the largest state chartered C Corp trust department west of Des Moines with nearly $270 million in assets. TS Bank is dedicated to community prosperity and reinvests 10% of their net income back to the community. Branch locations include Treynor, Macedonia, and Council Bluffs, IA. Michael (Mick) K. Guttau is Chairman of the Board and Joshua M. Guttau is CEO and CFO.