National Bank of Commerce (NBC), a local community bank with an 85-year history in the region, announced the completion of its merger with Republic Bank.
The process began in early July, with NBC submitting a merger proposal to the Federal Reserve and the Office of the Comptroller of the Currency for federal regulatory approval, according to a news release from NBC. Approval was granted Sept. 17 and officially closed Oct. 25.
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At that point, NBC began the process of converting Republic Bank’s accounts, branches and systems into theirs, all while keeping their customers and community informed of the progress, according to the release. As of Monday, Dec. 9, the process is complete.
NBC now operates 12 local branches across Northeastern Minnesota and Northwestern Wisconsin, including six former Republic Bank branches that are now full-service NBC locations.
“By merging with Republic Bank, we’re ensuring more local dollars remain in our community,” James Jarocki, chairman of the Board of NBC, said in the release.
NBC is headquartered at 1127 Tower Ave. in downtown Superior. It also has banks in Duluth (1314 E. Superior St., 306 W. Superior St., 4929 Decker Road, 300 Bristol St. and 1619 Woodland Ave.) Esko, Hermantown, Hibbing, Poplar, Solon Springs and a second location in Superior at 2822 Tower Ave.