Citizens Alliance Bank Completes Acquisition of Stockmens Bank
Continued Commitment to Cascade Community and Customer Service

Clara City, MN – January 10, 2025 – Citizens Alliance Bank (CAB) is pleased to announce the successful acquisition of Cascade, Montana-based Stockmens Bank, following the receipt of all necessary regulatory approvals. As part of this transaction, CAB reaffirms its dedication to providing the same high-quality, community-focused banking services that Stockmens’ customers have come to know and trust over the years.

With the acquisition now complete, CAB remains committed to maintaining a strong presence in Cascade. The bank’s core values of being Customer Driven and Community Focused will continue to guide its operations, ensuring that local customers receive the same friendly, personalized service they have come to expect.

Local leadership will continue as Stockmens’ Bank current President Mike Moore and current Vice President Cheryl Cruze will remain in place to lead the Cascade office. Their leadership ensures continuity of the same exceptional customer service that has been the hallmark of Stockmens Bank for more than a century.

The acquisition expands CAB’s footprint in Montana, where it now operates in Cascade, Butte, Drummond, Great Falls, Lincoln, Philipsburg, and Seeley Lake. Citizens Alliance Bank also has a growing presence in west-central Minnesota, with 10 rural community offices.

As a result of the acquisition, Stockmens customers will now have access to an expanded suite of banking products and services, including bank-sourced Visa credit cards, direct access to the secondary real estate lending market, residential and commercial construction lending, expanded bank lending limits, improved digital banking technologies, and enhanced cash management services.

CAB, chartered in 1902, is a wholly owned subsidiary of Forstrom Bancorporation, Inc., whose assets exceed $1.5 billion. Forstrom Bancorporation began operating in Montana with the acquisition of the Seeley Lake office in 1998 and has since grown into a trusted community partner across the region.

The successful completion of this acquisition marks an exciting new chapter for Citizens Alliance Bank and Stockmens Bank. Both organizations remain committed to serving their communities with the highest standards of integrity, customer service, and support.

Citizens Alliance Bank Chooses Autobooks to Elevate Small Business Banking: Expanded digital experience will feature tools built specifically for micro- and small business customers.

Citizens Alliance Bank today announced that it has elected to embed the Autobooks solution for small businesses into their existing digital banking platform. This partnership will enable Citizens Alliance Bank small business customers/members to get paid online or in-app, directly inside their online and mobile banking.

Autobooks is an emerging leader in digital invoicing and payment acceptance and is a leading integrated-payments provider for small business banking. The integration of the Autobooks invoicing and payment acceptance modules into the Citizens Alliance Bank digital banking platform will help small business owners and nonprofits better manage cash flow and keep track of their customersʼ payment status. With just a few clicks, this much-needed tool helps users create and send invoices, schedule recurring invoices, and receive card and ACH payments directly into their Citizens Alliance Bank checking account.

In addition to invoicing and online payment acceptance, Autobooks offers cash flow management, accounting, and financial reporting tools as part of its full product suite. With Autobooks, Citizens Alliance Bank can deliver workflow-related services that serve their clientsʼ immediate needs while increasing engagement, loyalty and profitability.

Autobooks partners with the industryʼs leading core processing, digital banking, and merchant processing providers so that Citizens Alliance Bank can quickly deploy to market. This set of integrations, coupled with Autobooks best-in-class go-to-market services, has allowed Citizens Alliance Bank to launch July 1, 2024, and start driving immediate small business adoption.

About Autobooks:

Autobooks empowers financial institutions of all sizes to better serve and monetize new and existing small business relationships by enabling business owners to send digital invoices, get paid online, manage cash flow, and automate accounting— all directly from their existing online and mobile banking. Because the Autobooks payment acceptance and invoicing tools are directly integrated into digital banking, a financial institutionʼs existing channels are transformed into a day-to-day destination for businesses — leading to increased deposits, non-interest fee income, and lending opportunities. Over time, Autobooks has been proven to reduce reliance on competing third-party apps, allowing financial institutions to (re)establish primacy in this crucial segment.

CITIZENS ALLIANCE BANK & AGENCY

BREAK GROUND FOR NEW BRANCH!

Demolition began as of Monday July 22, 2024. Completion is estimated for 2025.

On July 18th, we celebrated a significant milestone with the groundbreaking ceremony of our new full-service branch and insurance agency in Montevideo, MN. This project marks a pivotal moment for the bank as it prepares to replace the current location with a new facility spanning approximately 8,800 square feet, aimed at better serving the community that has continuously supported them.

This project is not just about a new building; it’s about enhancing our services and strengthening our connection with the community we proudly call home. We couldn’t have reached this milestone without your support and trust.

We extend our thanks to Edman Builders and HTG Architects for their expertise and dedication in bringing this vision to life. Together, we are working to enhance our services and create a space that reflects our commitment to you.

 

CITIZENS ALLIANCE BANK

CITY MEMORIAL PARK

The Forstrom Family Foundation, represented by brothers Phil, Perry, and John, is delighted to share an exciting collaboration with the bank and the City of Clara City. Today, we’re thrilled to announce the creation of the City Memorial Park at the corner of Center Avenue and Main Street, a project that holds special meaning for us and our community.

This park will feature perennial plantings, irrigated sod, comforting shade trees, and an inviting seating areas. Additionally, LED lighting will light the park, as well as featuring a community electronic billboard managed by the City of Clara City.

Construction is already underway, with metal sheeting recently added to the east side of the Sweep Hardware building. We’re humbled to share that we anticipate the park’s completion by October 1st, marking a significant milestone for Clara City.

Please take a moment to view the rendering of the park and join us in celebrating this meaningful addition to our community. Together, we look forward to creating a peaceful space that honors our town’s heritage and brings joy to all who visit.