ADVERTISEMENT

ADVERTISEMENT

KodaBank breaks ground at new Grand Forks location

101820.B.GF.pete anderson.jpg
Pete Anderson, president and CEO of Koda Bancor, stands to the left of KodaBank board members, at the Thursday, Oc.t 15 groundbreaking of the bank's south Grand forks groundbreaking. (Adam Kurtz/Grand Forks Herald)
We are part of The Trust Project.

A regional bank is making its way into the Grand Forks market and held a groundbreaking ceremony at its south end location on Thursday, Oct 15.

About 25 executives, employees and board members of KodaBank gathered to hold the ceremony at 3901 S. Columbia Road. The location will house both the bank and Koda Insurance Agency. The bank primarily does business in northeast North Dakota and northwest Minnesota. Also in attendance were members of Construction Engineers of Grand Forks, which is managing the new project for KodaBank.

“We look forward to serving the Grand Forks region with the same community banking model that has been the foundation of our success,” said Pete Anderson, president and CEO of Koda Bancor, the parent company of the bank. “Our customers enjoy the latest technology and banking products supported with a live person answering the phone.”

According to Anderson, Koda Bancor has 10 bank locations in North Dakota and Minnesota.

The expansion into Grand Forks follows the merger of KodaBank with Citizens State Bank-Midwest in February. The merger followed the trend of regional banks joining up across the nation, in order to be more competitive with their larger counterparts. The increase in assets also makes it possible for regional banks to expand their services and offer customers new technology, such as smartphone banking applications and lower fees.

ADVERTISEMENT

“We are excited to be expanding our footprint into the thriving community of Grand Forks,” said Steve Brekke, an insurance agent for KodaBank.

KodaBank has locations in Kennedy, Stephen and Bemidji in Minnesota, and Cavalier, Minto, Neche, Pembina, Walhalla and Drayton in North Dakota.

Related Topics: GRAND FORKS
Adam Kurtz is the community editor for the Grand Forks Herald. He covers higher education and other topics in Grand Forks County and the city.

Kurtz joined the Herald in July 2019. He covered business and county government topics before covering higher education and some military topics.

Tips and story ideas are welcome. Get in touch with him at akurtz@gfherald.com, or DM at @ByAdamKurtz.

Desk: 701-780-1110
What to read next
Cases of fraud or alleged fraud have caused uncertainty and mistrust among some consumers in an industry that relies largely on the honesty of producers, processors and packagers to maintain the integrity of the industry.
Gary Tharaldson, North Dakota’s successful hotel developer and owner of Tharaldson Ethanol in Casselton, North Dakota, describes how his company will move forward after the death of chief operating officer Ryan Thorpe. Tharaldson urges people to check in on others but said there was no warning at work that would have predicted the tragedy of Thorpe's death by suicide.
Lida Farm grows for Community Support Agriculture customers, farmers markets and food stands, with a little going to a local food co-op. Since 2004, the west central Minnesota farm has changed how it operates to keep up with the times and what they can handle.
Availability of labor is becoming tighter and more competitive. Officials of the Farmers Cooperative Elevator at Rosholt, South Dakota, describe how in the spring of 2022 they offered $30 an hour for truck “tender” drivers, moving fertilizer and inputs to farms, but got no applicants. They were grateful for local trucking firms stepping up during the vital period, but understandably at a higher cost for the farmer-owned company.