A CITIZENS ALLIANCE BANK Customer Driven. Community Focused. Citizens Alliance Agency, Inc. Merges with Goeman Insurance Agency, LLC Citzens Aliance Agency, Inc. (wholy owned subsidiary of Citzens Alliance Bank) is pleased to announce that they have completed the acqustion and legal merger with Goeman Insurance Agency. LLC, with locations in Clara City and Montevideo. Minnesota. The legal merger was completed effective with the end of business on Friday. July 31, 2020. Goeman Insurance Agency, LLC is o successful and highly respected full ine, independent insurance ogency that has been under three generations of Goeman Family ownership beginning with Willam Goeman Sr. in 1953. Kyle Goeman wil become President of Cizens Alliance Agency and be responsble for the day to day operations of the Agency including ogent recruitment and training, sales and customer development and custorner service support in oddition to leading Citzens Alliance Agency's future strategic ocquistions. Citens Alliance Agency's operations wil largely be out of the previous Goeman Insurance Agency buldings in Clara City and Montevideo. John Gil, President/COO of Citizers Aliance Bank commented that The key drivers underlying the transoction and bringing these componies together were the cultural and corporate value similarities between the two organizations. The entities are mult-generational, family owned businesses rooted in small communities with deep owner and staff commitment to earning and preserving customer respect and loyalty, providing impeccoble customer service and reinvesting in our communities. Citizens Allance Agency will continue to offer property and casuaty, lfe and health as well as crop irsurance coveroge. Citzens Alliance Agency will be leveroging the footprint of Citizens Allance Bank'sexisting 12 branch offices locatedin West-Central Minnesota and Western Montana, thereby bringing the proven sales team of Citzens Alliance Agency into the market areos of the Bank. Kyle Goeman was quoted as saying "This acquistion allows us a great opportunity to expand our existing footprint and customer reach within communities that we know very wel. The employees. office location and commitment to the Clara City and Montevideo customers and surrounding community will not change. Custormers will continue to experience the benefts of working with a local independent ogent, with local decision-making authority and deeply committed to the Success and future of their customers and businesses. We want to welcome the former Goeman Agency customers and employees to Citizens Alliance Agency and we look forward to contiruing to provide exemplary customer service and a much broader product and service offering which includes leading-edge digital technologles that customers need and desirel" Citizens Alliance Agency will retain the togline of Goeman Insurance Agency, "Where Every Policy Comes With An Agentl". Citzens Alliance Bank is a wholly owned subsidiary of Forstrom Bancorporation Inc. which in turn is owned by the Forstrom Brothers. Forstrom Bancorporation has consolidated assets of approximately $925 milion. Together Citizens Alliance Bank and Citizens Alliance Agency will employ approximately 175 people in 13 communities throughout West-Central Minnesota and Western Montana. A CITIZENS ALLIANCE BANK Customer Driven. Community Focused. Citizens Alliance Agency, Inc. Merges with Goeman Insurance Agency, LLC Citzens Aliance Agency, Inc. (wholy owned subsidiary of Citzens Alliance Bank) is pleased to announce that they have completed the acqustion and legal merger with Goeman Insurance Agency. LLC, with locations in Clara City and Montevideo. Minnesota. The legal merger was completed effective with the end of business on Friday. July 31, 2020. Goeman Insurance Agency, LLC is o successful and highly respected full ine, independent insurance ogency that has been under three generations of Goeman Family ownership beginning with Willam Goeman Sr. in 1953. Kyle Goeman wil become President of Cizens Alliance Agency and be responsble for the day to day operations of the Agency including ogent recruitment and training, sales and customer development and custorner service support in oddition to leading Citzens Alliance Agency's future strategic ocquistions. Citens Alliance Agency's operations wil largely be out of the previous Goeman Insurance Agency buldings in Clara City and Montevideo. John Gil, President/COO of Citizers Aliance Bank commented that The key drivers underlying the transoction and bringing these componies together were the cultural and corporate value similarities between the two organizations. The entities are mult-generational, family owned businesses rooted in small communities with deep owner and staff commitment to earning and preserving customer respect and loyalty, providing impeccoble customer service and reinvesting in our communities. Citizens Allance Agency will continue to offer property and casuaty, lfe and health as well as crop irsurance coveroge. Citzens Alliance Agency will be leveroging the footprint of Citizens Allance Bank'sexisting 12 branch offices locatedin West-Central Minnesota and Western Montana, thereby bringing the proven sales team of Citzens Alliance Agency into the market areos of the Bank. Kyle Goeman was quoted as saying "This acquistion allows us a great opportunity to expand our existing footprint and customer reach within communities that we know very wel. The employees. office location and commitment to the Clara City and Montevideo customers and surrounding community will not change. Custormers will continue to experience the benefts of working with a local independent ogent, with local decision-making authority and deeply committed to the Success and future of their customers and businesses. We want to welcome the former Goeman Agency customers and employees to Citizens Alliance Agency and we look forward to contiruing to provide exemplary customer service and a much broader product and service offering which includes leading-edge digital technologles that customers need and desirel" Citizens Alliance Agency will retain the togline of Goeman Insurance Agency, "Where Every Policy Comes With An Agentl". Citzens Alliance Bank is a wholly owned subsidiary of Forstrom Bancorporation Inc. which in turn is owned by the Forstrom Brothers. Forstrom Bancorporation has consolidated assets of approximately $925 milion. Together Citizens Alliance Bank and Citizens Alliance Agency will employ approximately 175 people in 13 communities throughout West-Central Minnesota and Western Montana.