Highland Bank’s expertise is business lending, with an emphasis in real estate lending, commercial/industrial loans, and government-backed loan solutions.

Highland proudly brings value to its customers as trusted advisors. Founded in 1943, Highland Bank is an independent, privately held bank serving the communities of St Michael, Maple Grove, Minnetonka, Bloomington and St Paul. With the addition of the three branches, Highland will operate eight locations in Minnesota and hold approximately $750 million in assets. Until that time, daily transactions and account access will continue as usual.Īs of JHighland Bank reported nearly $630 million in assets. Preceding the 2023 conversion, both banks will be communicating details to impacted customers to provide for a smooth transition. We are confident that this merged organization will further that mission within our shared business model.” “Highland continues to look for ways to expand on the relationship-based approach that has served us so well. Highland Bank President Troy Rosenbrook is excited about the future. Joining forces will extend our reach by providing customers access to a larger banking network and expanded services. They have a long history of demonstrating a strong commitment to their customers and communities they serve.

Rick Wall, Chief Executive Officer of Highland Bank shared, “This merger presented an ideal opportunity to expand our organization, blending our individual strengths to provide even greater value to our communities and shareholders alike.” Boundary Waters Bank President and CEO Sarah Kolek added, “We are pleased to announce we have entered into a merger agreement with Highland Bank. The agreement to purchase all outstanding shares of Boundary Waters Bank sets forth a plan for future consolidation under Highland Bank in 2023. The acquisition is expected to be complete by the end of year 2022. Boundary Waters Bank has branches located in Woodbury, Blaine and Ely Minnesota, which hold approximately $100 million in deposits. Highland Bank, a locally and independently owned community business-focused bank, signed a definitive agreement on Augto purchase Boundary Waters Bank, pending regulatory approval.

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