ST. CLOUD -- A local bank is changing hands.

VersaHoldings US has reached an agreement to buy Stearns Bank Holdingford from St. Cloud based Stearns Financial Services.

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Upon completion of the estimated $13.5 million dollar deal, Stearns Bank Holdingford will be renamed VersaBank USA.

This will be the first US bank for VersaBank. Heather Plumski is the President of Stearns Bank Holdingford N.A. She says it’s an honor to be selected as the first US location.

For over forty-five years, Stearns Bank has proudly served the strong and vibrant Holdingford area, and we are excited to continue to do so in our partnership with VersaBank and surrounding locations. It speaks volumes that our Canadian neighbor, VersaBank, has chosen Holdingford as the best location to launch its U.S.-based banking and financing. VersaBank shares our values and culture, and we’re confident VersaBank will be welcomed with open arms in Holdingford when the community gets to know our Canadian partner.

The deal is subject to approval from U.S. and Canadian regulators.

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