By Jolene FarleyA merger between the Ellsworth State Bank and the Exchange State Bank, Hills, is expected to receive regulatory approval in 60 to 90 days. David Huisman, president of the Ellsworth State Bank, and Rodney Bonander, president of Exchange State Bank, Hills, signed a merger agreement in January. The bank directors began talking about merging about a year ago."The merger became reality when we recognized that Ellsworth State Bank shared the same values," Exchange State Bank Vice-President Tim Plimpton said."Ellsworth State Bank has extremely loyal customers, dedicated employees and strong customer service."Both banks will send letters to their customers detailing the transaction. The name of the Ellsworth State Bank will be changed to the Exchange State Bank in Ellsworth and the Exchange State Bank of Hills will become the Exchange State Bank.The merger will benefit the customers of both banks, according to Huisman and Bonander. Bank officials said the combined operations will create a more efficient bank and increase the number of services available to customers. Ellsworth State Bank customers will now be able to use debit cards, automatic teller machines at each location, and take advantage of higher loan lending limits. Customers will see no change in their bank statements as a result of the merger because both banks currently use the same type of computer operating system.Ellsworth State Bank has six employees and the Exchange State Bank has nine employees. There will be no staffing changes at either location, according to Plimpton. Huisman will serve on the board of directors of the Exchange State Bank.
