BY Sarah smith
ssmith@parkrapidsenterprise.com
State Bank of Park Rapids will merge with Northview Bank, a business that has 11 branches throughout northern Minnesota.
An ad placed in Saturday's Enterprise states that "the Smythe family has agreed to sell State Bank of Park Rapids to Northview Bank."
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State Bank, owned by the Smythe family, has been in business 113 years, through five generations of Smythe family members, Sue Smythe said.
Smythe, an officer at State Bank, said no terms of the sale can be disclosed at this time because bank regulators don’t have the application yet.
Northview bank has also been in business for more than a century, with branches in Grand Rapids, Deer River and Hinckly.
The merger is subject to regulatory approval by the FDIC and is expected to be complete in June.
