- Associated Press - Tuesday, December 9, 2014

MANKATO, Minn. (AP) - St. Paul-based Anchor Bank is expanding into the southwestern Twin Cities and Mankato with the purchase of Voyager Bank.

Anchor says it has an agreement to acquire the operating assets and deposits of Eden Prairie-based Voyager, including offices in Mankato, Eden Prairie, Minnetonka and Shakopee (SHAHK’-uh-pee). The sale price was not disclosed.

Anchor has 16 other locations in the Twin Cities. KTOE-AM (https://bit.ly/1wwCNbJ ) reports the Voyager acquisition will make Anchor the sixth-largest bank in the Twin Cities, with total assets of more than $1.7 billion.

The acquisition is expected to close by the second quarter of 2015. Voyager banks are expected to convert to the Anchor name in June.


Information from: KTOE-AM, https://www.ktoe.com

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