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  • RiverWood Bank is now employee-owned

    February 21, 2019
    RiverWood Bank is now employee-owned
    In most businesses, the owner works harder than anybody. At RiverWood Bank, you now have the opportunity to work with an owner every day.
    “I have even more confidence and pride as I represent RiverWood Bank as an owner,” Randy Skarphol, business banker and employee-owner at the Monticello branch.
    RiverWood Bank is a local, community bank serving nine communities in northern and central Minnesota that recently launched an employee stock ownership plan (ESOP) resulting in nearly 100 employees becoming employee-owners.
    RiverWood Bank co-founder and CEO Paul Means explains the reason for this expansion in ownership. “Employees are RiverWood’s number one asset. Becoming an ESOP rewards the many long-time employees for their dedication and expertise to our customers as well as provides an advantage going forward to recruit and retain the very best to join our team.”
    RiverWood Bank was formed sixteen years ago from bank charters in Morris and Bemidji that date back more than 100 years. “There is a long history of meeting the needs of our communities and this new ownership structure will help ensure our customers continue to receive the excellent service they deserve for years to come,” said Means.
    “ESOP shows employees they are valued! In turn, the culture is a place where decisions are guided by values rather than rules, because you think like an owner,” Naomi Jacobson, personal banker and employee-owner at the Big Lake branch.
    RiverWood Bank has branches in Bagley, Baudette, Baxter, Bemidji, Benson, Big Lake, Crosslake, Monticello, and Morris. RiverWood’s Mission is to empower employee-owners to exceed customer expectations so we are the most trusted and respected bank in the communities we serve. Learn more at RiverWoodBank.com. Member FDIC and an Equal Housing Lender.
    Miranda Anderson
    Vice President/Marketing Manager
    (218) 316-7205 – Direct
    (218) 851-0902 – Cell

    RiverWood Bank | 14091 Baxter Drive #201A | PO Box 2947 | Baxter, Minnesota 56425
    Miranda Anderson, VP Marketing Manger
    (218) 316-7205

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