-
EntreBank, the first new bank in Minnesota in 14 years, will focus on small businesses
A new bank focused on lending to entrepreneurs and small businesses is bucking the trend of consolidation sweeping across the banking industry. Set to open next week in Bloomington, EntreBank has the distinction of being the first “de novo,” or newly formed, bank in Minnesota in 14 years. The bank was founded by a group of experienced leaders at other local banks around town who say it’s precisely the current landscape in which many smaller banks have been acquired by bigger banks as to why they see room for a new community bank in the market. “A lot of the good business banks have been swallowed up,” said Daniel Boeckermann,…