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First Federal Savings Bank changes name
BAXTER - Effective Aug. 11, First Federal Savings Bank will officially be changing its name to RiverWood Bank, FFSB Chairman Paul Means reported.
"The decision to change our name was made in 2006 by our board of directors when First Federal Savings Bank, Baxter, merged with First Federal Bank, Bemidji," said Means. "It was determined that a new name was needed in order to unify our 13 branches located in 11 communities throughout Minnesota.
"We chose the name RiverWood Bank because it is unique and the name represents the communities we serve. Though we are changing our name, we are the same bank, with the same owners and the same talented and dedicated employees."
Means said the RiverWood Bank will continue to partner with Baxter, Brainerd, the surrounding area and our other branch communities. The company's new tagline and theme is "Better BankingÉReal Solutions."
First Federal Savings Bank and First Federal Bank have been serving central Minnesota since 1922 and northern Minnesota since 1910, respectively. Owned by Great River Holding Co., with over $325 million in assets, RiverWood Bank has branches located in the communities of Bemidji, Bagley, Baudette, Walker and in Baxter, Crosslake, Big Lake, Breckenridge, Morris, and Benson, with a new branch to open in Monticello in the Fall of 2008.
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