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31 posts categorized "Kasson news"

August 18, 2015

Home Federal wraps up Kasson Bank buy

Rochester's Home Federal Savings Bank has officially wrapped up its purchase of Kasson State Bank.

6a00d83451cc8269e201b7c771ae58970b-250wiHome Federal announced the deal to acquire the bank and its two Kasson branches in April. HMN Financial, Home Federal's parent holding company, actually made the acquisition.

"We look forward to continuing on with the long established community banking tradition of Kasson State Bank in serving the individual and business banking needs of Kasson and surrounding communities in the years to come," stated HMN President Brad Krehbiel in the announcement of the closure of the deal.

Homefederal_logoThe Palmer family owned the Kasson State Bank. It has 19 employees on staff and assets of about $60 million. The two branches will now be operated under the Home Federal name.

Neither bank released financial details about the deal. Home Federal officials did say that the bank funded the acquisition with "internally available funds." 

Kasson State Bank has a 141-year history dating back to the 1874 founding of the First National Bank of Kasson. The bank has been owned by the Palmer family since 1924.

Home Federal now has nine Minnesota branches. It has offices in Albert Lea, Austin, Eagan, La Crescent, two in Rochester, Spring Valley and Winona; one full-service office in Marshalltown, Iowa; one loan-origination office in Sartell; and two private-banking offices in Rochester.

April 03, 2015

Home Federal to purchase Kasson State Bank

Kasson State Bank has agreed to sell its business to Rochester's Home Federal Savings Bank.

Home Federal announced the deal to bank and its two Kasson branches late Thursday night. HMN Financial,Home Federal's parent holding company, is actually making the acquisition.

Kasson-state-bankThe purchase is subject to regulatory approval. The Palmer family currently owns the Kasson State Bank. It has 19 employees on staff. It lists assets of about $60 million.

"It was an opportunity that was in our backyard. It's a natural expansion of our existing franchise footprint," said Home Federal President Brad Krehbiel.

Neither bank elected to release financial details about deal. Home Federal officials did say that the bank is funding the acquisition with "internally available funds." The bank expects to complete the transaction late in the third quarter of 2015.

 "We look forward to the opportunity to continue on with the long established community banking tradition of Kasson State Bank, while at the same time expanding the banking products and services offered through these locations," stated Krehbiel in the announcement of purchase.

Kasson State Bank has a 141 year history dating back to the 1874 founding of the First National Bank of Kasson. The bank has been owned by the Palmer family, since 1924.

If approved, this deal will bring Home Federal's number of Minnesota branches to nine. It has offices in Albert Lea, Austin, Eagan, La Crescent, two in Rochester, Spring Valley and Winona; one full-service office in Marshalltown, Iowa; one loan-origination office in Sartell; and two private-banking offices in Rochester.

March 06, 2015

10 years of blogging Rochester

On March 4, 2005, I wrote my first blog post. Kiger's Notebook blogo 2x

It was my sixth year at the Post-Bulletin. I created the "Heard on the Street" column about three years before the blog began. 

More  than 6,200 posts, stacks of columns, mountains of tweets and many gray hairs later, I'm still here writing about business and things vaguely related to businesPhoto on 2015-03-03 at 18.11s in southeastern Minnesota.

It'syou, the readers, who make this career such a fulfilling and entertaining one. Thank you everyone for your feedback, criticism and support over these past 10 years. 

10 years of blogging Rochester

On March 4, 2005, I wrote my first blog post.Kiger's Notebook blogo 2x

It was my siPhoto on 2015-03-03 at 18.11xth year at the Post-Bulletin. I created the "Heard on the Street" column about three years before the blog began. 

More than 6,200 posts, stacks of columns, mountains of tweets and many gray hairs later, I'm still here writing about business and things vaguely related to business in southeastern Minnesota.

It's you, the readers, who make this career such a fulfilling and entertaining one. Thank you everyone for your feedback, criticism and support over these past 10 years.  

May 10, 2011

New Barbershop shaping up

Looks like the third Rochester location of The Barbershop — A Hair Salon for Men is shaping up.

Arlie Allen along with business partners, Paul and Leah Leisen, own all three locations. The Kasson trio opened their first Med City shop in 2008 near Wal-Mart North and Gander Mountain.

A couple months later, a second one opened in southwest Rochester near CiCi's Pizza and Kohl's.Barbershop3

"Since our north location is turning away customers, we thought this would be a good place to be," says Allen.

The new shop will have seven stations, like the south location. Each station has its own TV with a remote control for each customer. While they are waiting for their cuts, customers can snack on peanuts in the shell, recreating the flavor of classic barber shops from the past.

July 15, 2010

Furnishing Crossroads Center

Look for the local, family-owned Logan Furniture to open in a new location at the end of this month.

Logan, which closed at the Rochester Market Square home center on July 10, is setting up a new furniture showroom in the Crossroads Shopping Center. The store is moving into the space left vacant by Tuesday Morning, between Hancock Fabrics and Sun Place Tanning.

Tuesday Morning moved into the TJ Maxx & More Plaza.

"We feel great about this move. We think it will really give us the visibility we are looking for along with more space," says Logan Furniture General Manager Matt Logan.

While he plans to add new brands to his selection in the new 6,600-square-foot showroom, Logan stresses that his store is keeping its philosophy of selling only U.S.-made furniture.

"In fact, 90 percent of what we sell is made less than 300 miles away," he says. "This is a very green way of doing business, because it eliminates so much transportation."

Having lower shipping costs means the furniture can be priced competitively, as the consumer pays mainly for manufacturing and quality materials, Logan says.

Though the store will be in a new location, it will still offer free shipping.

Logan Furniture's move means Crossroads Shopping Center is full of tenants.
Blair Meek and Randy Scott of the Professional Management Group handle the center's leasing.

April 29, 2010

Tax credits jolt local real estate market

Here's some from my piece on the housing scramble this week as everyone rushes to beat the tax credit deadline

To read the full story, go here:

Two numbers — $6,500 and $8,000 — are electrifying the local housing market, jolting potential buyers and sellers into action to beat a Friday deadline.

RealEstate "It has been crazy for the last two weeks. Everybody is scrambling," says Rochester Realtor Traci Fogelson, president of the Southeast Minnesota Association of Realtors. "Not that I'm complaining."

As part of the federal stimulus plan, qualified first-time home buyers get an $8,000 tax credit, while move-up buyers get a $6,500 credit. But to qualify, a purchase agreement must be signed by the end of Friday.

Homes are being snapped up by buyers at a rate unseen since the recession started in 2006, real estate agents say.

In Rochester, 1,300 homes are on the market. Of those homes, 69 were first listed for sale last week, 44 percent more than hit the market during that week last year.

During March, pending sales were up 28 percent from a year earlier, with much of the action later in the month.

April 01, 2010

Landscaper to expand, move to Kasson

This is the follow-up to the earlier tease about Kasson landing new businesses. And yes, Trisha was correct. One of the three new businesses is Jason Wilkers Retaining Wall and Pavers:

Jason Wilkers Retaining Wall and Pavers is being transplanted to a new home in Kasson from its current spot in Byron.

And Wilkers is planting more than roots for his business in his new location on Eighth Avenue Northwest, also known as the Dump Road.

He is planting trees to eventually grow into a nursery.

While it will be a long time until that project bears fruit, Wilkers expects to be have his landscaping operation up and running by early May.

It will be more than double the size his business. Wilkers has four on staff now and will probably hire four to five more.

March 30, 2010

Kasson is open for business

The Kasson City Council locked down deals at its meeting last week to bring three new businesses into the city.

Vfiles18472 One of the business is moving from another area town, one is growing from a home-based operation to building a new facility and the third is the opening of a new retail store.

Had a nice chat with Mike Martin, Kasson's city planner/economic development coordinator this morning.

I should have the details on these deals in print/on blog soon.

January 27, 2010

Action in Kasson?

300px-WaterTower2006KassonMN Hearing some buzz that a prominent empty commercial space in Kasson might soon have a new tenant.

I have calls in on this, so I should find out the chatter is right or not in the near future.

And yes, for all the funny people out there, I am certain this is about Kasson and not another nearby K city.

Or at least I'm pretty sure.

Heh.