National Bank of Commerce Announces Merger with Republic Bank
Two Northland Banks are joining forces later this year
DULUTH, Minn.- Two Northland Banks are joining forces. The National Bank of Commerce has announced it is merging with the Republic Bank.
With the move, six Republic Banks in the Twin Ports will be renamed “N-B-C”. The bank’s president says customers will not see a dramatic change when the merger is complete.
Local dollars will stay local, giving people more financial opportunities while helping the economic growth in the region.
“We would like to become a billion dollar bank and this is an opportunity and we have to do that. You act when things are available”, said Steve Burgess, President & CEO of National Bank of Commerce.
Job loss is expected to be minimal. Republic Bank was founded by the late Jeno Paulucci.
The Paulucci family says they chose National Bank of Commerce because of the bank’s loyalty to the community.