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Hello, RiverWood Bank

We’re a local, community bank whose community is about to get a little bigger.

Press Release

NBC To Acquire RiverWood Bank

NATCOM Bancshares, Inc., and our wholly-owned subsidiary, National Bank of Commerce (collectively “NBC”) has 10 branches with over $1.4 billion in total assets. We’ve been dedicated to providing personalized banking solutions for 90 years. It’s a commitment we live every day through our mission to make more possible for the communities we serve.

NATCOM has announced the signing of a definitive agreement with Great River Holding Company and its wholly-owned subsidiary, RiverWood Bank. They have 11 locations throughout Minnesota in Bagley, Baudette, Baxter, Benson, Bemidji, Big Lake, Crosslake, International Falls, Monticello, and Morris; the company has more than $625 million in assets today. 

The combined banks will have an estimated $2.0 billion in total assets.

This acquisition helps ensure local dollars remain in the region and allows NBC and RiverWood Bank to combine their strengths, shared values, culture, and commitment to delivering exceptional customer service while offering their communities the best products and services. 

RiverWood Bank is a well-respected financial institution with a strong history of dedicated service to its communities. NBC greatly respects RiverWood Bank’s leadership, associates, and customers. The synergies created by this partnership will undoubtedly enable NBC to serve its customers and communities better, thus further solidifying our position within the industry.

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A Message From Our CEO, Brad Roden

In this very special edition of our video podcast, Loose Change, National Bank of Commerce CEO Brad Roden sits down for a conversation with our host, Hannah Willis, to discuss what’s happening, an expected timeline, and why the acquisition will benefit both RiverWood Bank and NBC.

Top Three Reasons
For The Acquisition

1. Bank Local

This is an opportunity to ensure local dollars remain in the region and allow NBC and RiverWood Bank to combine their strengths and offer the best products and services.

2. Expanded Reach

This acquisition is a strategic move that aligns with NBC’s long-term vision for growth and expansion.

3. The Perfect Partner

RiverWood Bank emerged as an ideal partner due to the strong alignment of the organization’s values, culture, and commitment to delivering exceptional customer service. The synergies created by this partnership will undoubtedly enable NBC to serve its customers and communities better.

What Happens Next?

Here’s the good news: There’s nothing you need to do right now. 

As for us, these are the most important steps in the acquisition process, and the general timeframe in which we expect them to be completed. Dates and deadlines may shift, but we are committed to an open, honest, and transparent process. That means, if the dates below change, you’ll be the first to know.

July 29, 2024

Public Announcement

Within thirty days of July 29, 2024

Acquisition Application Submitted to the Federal Reserve Bank of Minneapolis

Within 120 days of the application being filed

Close of the Sale

Est. around November 30, 2024

RiverWood Bank locations become NBC Branches after the sale is approved

January 24 – 26, 2025

Account Migration

  • Friday night – Sunday
  • RiverWood Bank accounts become NBC accounts
  • After account migration, all customers are able to visit any branch in the 17 cities that we serve

Frequently Asked Questions

What will happen to the RiverWood account types?

We are in the process of determining which RiverWood Bank accounts will remain and which will be mapped over to the closest NBC account. We will keep you informed as we learn more!

Will RiverWood Bank deposit account numbers stay the same?

Yes, in most cases. However, if there happens to be an account number duplicated, we will work with those accounts on a one-off basis. Currently, we have only found one duplicate deposit account number, and we are currently working through the loan account numbers. We will provide additional information and resources to support any impacted customers.

Will customer’s automatic internal/external transfers remain in place after account conversion?

All existing internal and external transfers should remain intact through the conversion. Once we go through the due diligence process with our core provider, Jack Henry, we will test this process to verify if any payment structures will be impacted by the conversion. A customer may be affected if an account or loan number needs to be changed.

Will RiverWood customers be able to use their RiverWood Bank checks for a period of time, or will we need to order new checks with the updated routing number?

RiverWood customers will be allowed to continue using their existing supply of checks. When customers need to order more, the new checks will have NBC’s routing number. We will retain the RiverWood routing numbers for a period of time, so customers do not need to rush to use their existing supply.

Will automatic deposits for customers’ payroll remain the same, or will they need to change that at their workplace?

NBC will update the routing number on your current automatic payments and deposits, such as payroll or recurring debits. Once the conversion process is completed, for any automatic payments you set up going forward, we ask that you use the routing number 091800028 with your existing account number, which will remain unchanged unless you are specifically notified that your account number needs to be changed.

In the first part of December, you will receive a ‘Welcome Guide,’ which will detail a complete timeline of the events and provide detailed information about all products and services that will be converted the weekend of January 24, 2025.

How will a new routing number affect the ability to transfer funds?

You will still have the same capabilities on any existing transfers you have set up. Post system conversion (January 24 weekend): If you initiate any new transfers, you would then want to input the NBC routing number. In the first part of December, you will receive a ‘Welcome Guide,’ which will detail a complete timeline of the events and provide detailed information about all products and services that will be converted the weekend of January 24, 2025.

Communities We Serve

Soon, our range of banking solutions – provided with personal service by local bankers – will be expanding to even more communities.

faq iconStill Have Questions?

We’re committed to ensuring that this process is as transparent and seamless as possible. Part of that means that we are ready to answer any question you might have about the acquisition. 

You can email us anytime, or leave a message on our acquisition phone line, 218.733.6419. Calls will be returned within 24 hours, Monday through Friday from 8 am to 5 pm.

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Thank You For Banking Local

Finally, whether you have a personal account or your entire business with us, we want to thank you for your commitment to banking local. A deposit made at NBC and RiverWood Bank is an investment in our region. This acquisition presents an exciting opportunity for our customers and our community, and it provides us all with the chance to make even more possible.


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