News & Events
Oak Ridge Financial Welcomes Mike Wier to Institutional Fixed Income Team
[Golden Valley, MN, September 2019] – Oak Ridge Financial is proud to announce that Mike Wier has joined the firm as Senior Vice President, Institutional Fixed Income.
Widely known in the industry, Mike has over 30 years of experience in assisting institutional investors with fixed income strategies. He has a specific expertise in working with financial institutions and money managers. Mike's experience includes: sales and trading, underwriting, investment banking and executive level management. Mike comes to Oak Ridge from Wedbush Securities where he most recently served as Vice President.
"As we continue to build out our Institutional Fixed Income Group" says Russell King, CEO Oak Ridge, "we are thrilled to have Mike join the group which includes industry professionals Craig Mueller, David Stieber, Jeff Mullins and father-son team Bruce and Mark Bennett."
Oak Ridge's Financial Institutions Group specializes in providing investment banking and fixed income sales and trading services to financial companies including banks, thrifts, insurance companies, money managers, public funds, finance companies and specialty lenders. Our team consists of professionals with over 100 years experience with in-depth knowledge of the capital markets and financial services industry. The Institutional Fixed Income Group offers a variety of both tax-free and taxable fixed income products and services including tax-free municipal bonds, taxable securities, and structured products.
For more information, please visit https://oakridgefinancial.com/.
Mike Wier - 651-209-7226
For full press release in pdf format click here.
September 9, 2019
Oak Ridge Financial Now Offers Municipal Advisory Services
[Golden Valley, MN, September 2019] – Since its launch in 2015, the Public Finance Group at Oak Ridge Financial has offered underwriting and placement services, financial support and secondary market support to our clients. We are proud to announce that Scott VanderWerp is now able to offer municipal advisory services.
Leveraging over thirty years of experience, Oak Ridge has recently become an SEC registered municipal advisor. In addition to the above-mentioned services, our municipal advisory services include: debt capacity analysis, long-term and short-term needs analysis, bond restructuring, defeasance and forbearance advice, client representation for underwriter selection, and a bond redemption program. The Public Finance Group is able to diligently tailor solutions to meet each client's specific needs.
For more information, please visit https://oakridgefinancial.com/publicfinancegroup.aspx.
Scott VanderWerp - Managing Director - 616-844-0027
February 21, 2018
Deal Alert: Venture Bank is selling to Choice Financial
Oak Ridge Financial is pleased to announce that Venture Bancshares Inc. has agreed to sell its Bloomington based Venture Bank to North Dakota based Choice Financial Holdings Inc.
Venture Bank has locations in Bloomington, Golden Valley, Eagan and Roseville. The transaction will close in the 3rd quarter.
Venture Bank has more than $700 million in assets and is a subsidiary of Venture Bancshares, Inc. Choice Financial Bank is over $1.2 billion in assets and is a subsidiary of Choice Financial Holdings, Inc.
Oak Ridge Financial acted as Exclusive Financial Advisor to the seller Venture Bancshares, Inc. and issued a Fairness Opinion.
If you have any questions please feel free to contact Oak Ridge's Financial Institutions Group.
David Stieber - Managing Director - 763-923-2291
Craig Mueller - Managing Director - 763-923-2205
January 30, 2018
Deal Alert: KleinBank is selling 3 Branches to Wings Financial Credit Union
Oak Ridge Financial is pleased to announce that Chaska Minnesota-based KleinBank is selling 3 of its branches to Apple Valley-Minnesota based Wings Financial Credit Union.
The locations include branches in Coon Rapids, Otsego and Plymouth. The transaction is subject to approval by the National Credit Union Administration, the Federal Deposit Insurance Corp. and the Minnesota Department of Commerce. Deal completion is expected to take place during the second quarter of 2018.
KleinBank has more than $1.9 billion in assets and is a unit of Klein Financial Inc. Wings Financial CU has assets of more than $4.5 billion.
Oak Ridge Financial acted as Exclusive Financial Advisor to the seller KleinBank.
If you have any questions please feel free to contact Oak Ridge's Financial Institutions Group.
David Stieber - Managing Director - 763-923-2291
Craig Mueller - Managing Director - 763-923-2205
December 22, 2017
Oak Ridge Financial is Pleased to Announce Our Most Recent Additions
We are very pleased to announce the most recent additions to our Oak Ridge Financial family!
Pat Toutant, Executive Vice President, Head of Private Client Services
Rich Rokala, Sr. Vice President-Investments
Jeff Rathmanner, Sr. Vice President-Investments
Peter Klatt, Sr. Vice President-Investments
Diane Brawley, Client Relationship Manager
Brittany Granata, Client Relationship Specialist
Jennifer Struble, Receptionist
Monica Ekberg, Client Relationship Manager
Doug Ollila, Sr. Vice President-Investments
Mike Larson, Sr. Vice President-Investment Banking
Mark Hagen, Sr. Vice President-Investment Banking
Chris Flannery, Managing Director-Investment Banking
Tom Baurle, Managing Director-Investment Banking
For more information on our team, check out our bio's under "About Us" at the top of the screen and click on "Oak Ridge Team".
December 13, 2017
Deal Alert: Park Financial Group, Inc. is acquiring Pioneer National Bank
Oak Ridge Financial is pleased to announce that Park State Bank, a subsidiary of Park Financial Group, Inc. is purchasing Pioneer National Bank. Park Financial Group, Inc. is headquartered in Minneapolis, MN and its subsidiary, Park State Bank, is headquartered in Duluth, MN.
With this purchase, Park State Bank will acquire Pioneer's three offices in Duluth and have a total of four locations in Duluth and one in Minneapolis. This acquisition will bring together two long-standing Duluth institutions.
Pioneer National Bank traces its roots to 1857 and was originally chartered as Citizen's State Bank of West Duluth in 1912 before obtaining a National Bank Charter as Pioneer in 1927. Pioneer is approximately $82 million in total assets and has 3 locations in Duluth.
Park State Bank is approximately $52 million in total assets with its main bank headquartered in Duluth, MN and a branch in Minneapolis, MN. Park has been serving the Duluth market since it was established in 1916.
The purchase is subject to regulatory approval and is expected to be complete in early 2018.
Oak Ridge Financial acted as Sourcing Agent and Advisor for Park Financial, Inc.
If you have any questions please feel free to contact Oak Ridge's Financial Institutions Group.
David Stieber - Managing Director - 763-923-2291
Craig Mueller - Managing Director - 763-923-2205
December 8, 2017
Deal Alert: Peoples Bank of Commerce and State Bank of New Prague has been acquired by First Bank & Trust
Oak Ridge Financial is pleased to announce that Peoples Bank of Commerce and State Bank of New Prague, both subsidiary banks of Duke Financial Group, Inc., based in Minneapolis, MN have been acquired by First Bank & Trust, based in Brookings, SD.
Peoples Bank of Commerce was established in 1916 and has approximately $292 million in assets. In addition to its main office in Cambridge, MN, it has branches in Princeton, East Bethel, Edina, and Roseville, all in Minnesota.
State Bank of New Prague was established in 1883 and has approximately $117 million in assets. It operates from one banking center in New Prague, MN.
First Bank & Trust was established in 1925 and has approximately $1.38 billion in assets. It has ten banking centers all located in eastern South Dakota. It is a subsidiary of Fishback Financial Corporation in Brookings, SD, that has approximately $2.25 billion in assets prior to this transaction.
Oak Ridge Financial acted as Exclusive Financial Advisor and issued a Fairness Opinion to the Board of Directors of Duke Financial Group, Inc.
If you have any questions please feel free to contact Oak Ridge's Financial Institutions Group.
David Stieber - Managing Director - 763-923-2291
Craig Mueller - Managing Director - 763-923-2205