Deerwood Bank

Adam Maier advised Deerwood Bancshares, Inc. and its subsidiary bank, Deerwood Bank, in the sale of its Apple Valley, Minnesota, branch location to Royal Credit Union based in Eau Claire, Wisconsin. The branch sale, which closed in November 2016, involved the unique process of converting the location into a credit union in accordance with Bank Merger Act and National Credit Union Administration (NCUA) statutes and regulations. Assistance with this transaction came from Ernie Panasci, Lindsey Harden and Mike Lochmann. Deerwood Bank had previously acquired the Apple Valley location as part of the American Bank of Saint Paul acquisition in 2015. Adam also advised Deerwood as the stalking horse bidder for that purchase under Section 363 of the U.S. Bankruptcy Code.