North American State Bank acquired by Kensington
WILLMAR — Kensington Bank has acquired North American State Bank, as well as North American Insurance Agency. North American has branches in Willmar, Belgrade and Elrosa. They will be renamed Kensington and join current banks in Kensington, Cokato, Herman and St. Cloud.
North American, which was privately owned, had assets of approximately $100 million.Prior to the acquisition of North American State Bank, Kensington had assets of approximately $170 million.
This is the third acquisition by Kensington in six years. They previously acquired State Bank of Cokato and First National Bank in Herman.