March 2008

Northern National Bank to be Acquired by Frandsen Financial

Frandsen Financial Corporation has reached an agreement to purchase Northern National Bank from Anderson Financial Group of Wayzata, MN.  Northern National has offices in Baxter, Brainerd, Crosslake and Nisswa.  The sale is expected to be completed by May, 2008.

Anderson Financial Group, a real estate development, banking, and investment firm, was established in 1997 by Founder and CEO Andy Anderson.  In just 11 years, Anderson built Northern National Bank from assets of $10 million to approximately $140 million today.  According to Anderson, "The sale will enable Northern National Bank to build on its financial strength in the community, procuring the future growth of the bank and it's customers".