CorTrust buys Blaine, Minn., bank

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CorTrust Bank has acquired Blaine State Bank in Blaine, Minn., CorTrust announced this week.

The purchase will be completed Friday, and CorTrust will assume operation of the bank the same day.

CorTrust Bank has $680 million in assets with 23 locations in South Dakota and Minnesota and was established in 1930. Blaine State Bank is a Minnesota state-chartered bank that was established in 1972 and is located in the northern Twin Cities suburb of Blaine, with assets of nearly $36 million.

CorTrust was founded in Artesian nearly 85 years ago. President and CEO Jack Hopkins said in a news release that the Blaine State Bank acquisition “is an exciting addition to CorTrust Bank’s growth in Minnesota.”

“The bank is looking forward to serving the people of Blaine and the surrounding communities with the same standard of great community banking they have grown accustomed to with Blaine State Bank.”

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