In observance of Thanksgiving Day, all Citizens Alliance Bank locations will be closed on Thursday, November 28, 2024. Our Digital Banking and ATM services will remain available 24/7.
Pile of printed newspapers.
Citizens Alliance Bank (CAB) has agreed to acquire Cascade, Montana-based Stockmens Bank (Stockmens) in a transaction, while pledging to continue the same “community banking” commitment Stockmens Bank customers are accustomed to.
“Citizens Alliance Bank intends to maintain a continued presence in Cascade. Commitment to the customers and employees of Stockmens Bank will not change,” said Chad A. Forkrud, President of Citizens Alliance Bank. “Customers will be doing business with the same individuals that they interact with today.”
Although the name will change, Citizens Alliance Bank would like to assure the Stockmens’ staff, customers, and community that little will change with customer services or personnel. President Mike Moore and Vice President Cheryl Cruze will continue to lead the Cascade office once the sale is complete. A priority of Citizens Alliance will be to retain the “hometown” personal service of a community bank, in line with its Core Values of being Customer Driven and Community Focused.
Michael Moore, President of Stockmens Bank said; “I feel very strongly that this transition will be a positive one for our customers. After 110 years of our family being part of banking in Cascade, and more importantly, involved with the community, it was time for a change that will ultimately result in even better products and services for our customers. It is a bittersweet time, but I am confident that CAB will continue the same dedication to the customers and the Cascade area that Stockmens Bank has for all these years.” Citizens Alliance Bank, an independent community bank with total assets in excess of $1.4 billion, is headquartered in Clara City, Minnesota. CAB currently has six Montana offices located in Butte, Drummond, Great Falls, Lincoln, Philipsburg, and Seeley Lake. It also has 10 offices in rural communities in west-central Minnesota.
The transaction is contingent upon regulatory approval from the FDIC, as well as regulators in Minnesota and Montana and the shareholders of Stockmens Bank. Stockmens, which was established in 1917, has about $42 million in total assets.
Following the merger, Stockmens customers will see new banking products introduced, such as bank-sourced Visa credit cards, direct access to the secondary real estate lending market, construction lending for residential and commercial real estate, an expanded bank-lending limit, enhanced digital banking technologies, and expanded cash management services. CAB is a wholly owned subsidiary of family-owned Forstrom Bancorporation, Inc., which will exceed $1.50 billion in consolidated assets upon integration of Stockmens Bank. Forstrom Bancorporation, Inc. began conducting business in Montana with the acquisition of its Seeley Lake, MT office in 1998.
CAB and Stockmens representatives anticipate regulatory approval in the 4th quarter of 2024 and then closing the transaction in early 2025.
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.
New Year's Day | Monday, January 1 |
Martin Luther King, Jr. Day | Monday, January 15 |
Presidents' Day | Monday, February 19 |
Memorial Day | Monday, May 27 |
Juneteenth Day | Wednesday, June 19 |
Independence Day | Thursday, July 4 |
Labor Day | Monday, September 2 |
Columbus Day | Monday, October 14 |
Veterans Day | Monday, November 11 |
Thanksgiving Day | Thursday, November 28 |
Christmas Day | Wednesday, December 25 |
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.
Main Entrance:
110 Main Street, Clara City, MN 56222
South Elevation (Employee Entrance)
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.
Main Entrance:
110 Main Street, Clara City, MN 56222
South Elevation (Employee Entrance)