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Security Bank & Trust Co. acquisition of Flagship Bank Winsted to move ahead April 19
April 15, 2013

By Ivan Raconteur

WINSTED, MN – Security Bank & Trust Co. will acquire the 110 First Street North office of Flagship Bank Winsted Friday, April 19, according to a letter to Flagship Bank shareholders and creditors from Security Bank & Trust Co. CEO-President Gale Hoese.

As a result of the transaction, accounts at Flagship Bank Winsted will automatically become accounts of Security Bank & Trust Co.

Security Bank & Trust Co. will become the new custodian of Flagship Bank Winsted individual retirement accounts (IRAs).

Flagship Bank Winsted customers will be able to continue to use their current supply of checks for one year. Checks reordered through the bank will automatically be changed to identify Security Bank & Trust Co., although account numbers will not change.

Lobby hours at the Winsted location will continue to be 8:30 a.m. to 3:30 p.m. Monday through Thursday, and 8:30 a.m. to 5:30 p.m. Friday.

The drive-up location will be open 8 a.m. to 3:30 p.m. Monday through Friday, and 8 a.m. through 12:30 p.m. Saturday.

Customers who use online banking may log on to www.security-banks.com and sign up for Security Bank’s online banking, Bill Pay, and eStatements. Account balances will upload to the new online accounts after the merger.

Customers who use telephone banking may contact the Winsted bank office to fill out a new telephone banking enrollment form.

“Security Bank & Trust is a family-owned community bank,” Hoese noted. “Our current offices are in Glencoe, Brownton, Plato, and New Auburn. Our goal is to continue to provide quality financial products to the residents in Winsted and the surrounding area.”

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