(Montevideo, MN) — According to a press release, John T. Gill, President and COO of Citizens Alliance Bank, announced today that they recently reached a deal to acquire Citizens State Insurance Agency which will become a wholly owned subsidiary of the Bank effective July 1st. The legal name will also be changed to Citizens Alliance Agency, Inc.
In addition, Citizens Alliance Bank intends to acquire and merge with Goeman Insurance of Clara City and Montevideo. The closing on the Goeman Insurance Agency deal is scheduled for August 1st. While the signage on the Goeman Insurance Agency buildings in Clara City and Montevideo will change to Citizens Alliance Agency, no employees will be displaced as a result of the sale.