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Peoples National Bank in Brainerd announces name change

Peoples National Bank in Brainerd announced a reorganization of ownership and a name change to Neighborhood National Bank.

Doyle Jelsing, president of Peoples National Bank, recently announced the bank's ownership group plans was reorganized on June 30 with the ownership group of it's

sister bank (Neighborhood National Bank in Alexandria), forming a combined group called Peoples Bankshares. Neighborhood National Bank was owned by Douglas County Bancshares, which has been affiliated with Peoples Bankshares for many years. On Aug. 31, Peoples National Bank will be taking on the name Neighborhood National Bank, and will be keeping the same locations and same staff.

"We are very excited about our new name and look forward to launching it soon with great energy and optimism," Jelsing said in a news release. "For many years we have had a sister bank in Alexandria with common ownership, and now we are merging the two banks and taking their name in a way to stand out from other banks and become more unique. There are many Peoples Banks around the country, but in the state and region, there is only one Neighborhood National Bank."

Jelsing said the new name embodies the bank's emphasis on building the community, and vision to provide convenience and financial advice.

"We are looking forward to a seamless transition, with very little changing other than our name and logo," Jelsing said. "The owners are the same, the staff will remain the same, and the customer account numbers will remain the same. We feel very good about our current product line, so there will be no structure changes in that area, too."

Peoples National Bank has assets of approximately $160 million and is located in Mora, Aitkin, Brainerd, Crosby and North Branch. The bank originated in Mora in 1963 and

remains a locally-owned independent community bank. The bank is a member of the FDIC and is an Equal Housing Lender.