Insights

After John Connolly — the much-loved president of a fourth-generation, family-owned community bank in western Minnesota — suddenly passed away in 2020, the shareholders and management of West 12 Bancorporation and its wholly owned bank subsidiary, State Bank of Danvers, revisited its strategic plan. They ultimately determined the 121-year-old institution would need to acquire or be acquired to keep up with the ever-changing financial landscape.