Redwood Financial, Inc. (the “Company”), the holding company for HomeTown Bank, which includes a location in St. Peter and Le Sueur, has announced the asset purchase of Corn Capital Innovations LLC (the “Acquired Company”) in the first quarter ended March 31. The acquired company specializes in crop insurance and other agriculture related services.
“Having Corn Capital Innovations join our family of companies ushers in an exciting chapter in the future of our organization. Steve O’Neill (Corn Capital Innovations CEO) is a seriously talented business person. He will remain the CEO and face of the company, and we plan to support Steve and his team in any way we can. We share the same vision of being the company our customers love, and the alignment of our insurance businesses with our bank will benefit our customers, communities, and shareholders for years to come.” said HomeTown Bank CEO Daryl Karsky.
Corn Capital Innovations CEO, Steve O’Neill commented, “This was a great opportunity to join our neighbors and friends at HomeTown Bank. The bank has always treated me like family as we started multiple businesses and grew them together. We have so many opportunities now that we are together—I’m confident this is the right fit for my customers and employees and I’m very excited about the future here.”
HomeTown Bank is headquartered in Redwood Falls, Minnesota and along with branch offices located in Olivia, Henderson, St Peter, Le Sueur, Cleveland, Jordan, Shakopee, and Waconia. Community Insurance Brokerage, Inc and Corn Capital Innovations will serve these communities and the greater region.