Tri Valley Bank & Eagle State Bank Merge to Form Riverstone Bank
January 12, 2021
Eagle, Nebraska: Eagle State Bank and Tri Valley Bank announced today that they have merged. With $118 million in total consolidated assets, $102 million in deposits, and $92 million in loans, the combined entity continues to serve an existing customer base that extends into rural communities across Eastern Nebraska, including the Lincoln and Omaha markets.
The bank is now operating under a new name, Riverstone Bank, building upon a long-standing history in community banking that dates back to 1884. Former Eagle State Bank President Steve Glade has been named President & CEO. Lori Kirchhoff, former President of Tri Valley Bank, is now serving as Regional President. Stephanie Patton, who has a long history with both banks, continues to oversee operations.
All locations remain open, including full-service branches in Eagle, NE, and Talmage, NE, and a Loan Production Office in Syracuse, NE. Once the two banks’ products and services are combined, existing customers may gain access to a wider range of offerings.
Riverstone Bank President & CEO Steve Glade said, “Since several of our investors already have common ownership in both banks, it made sense to become one entity. We can maximize operational efficiencies and share the expense of ongoing investments in technology, which, in turn, will benefit the customers and communities we serve.”
“Customers can expect increased lending capabilities and upgrades to the most advanced online and mobile banking systems as we carry out our new commitment to keep pace with ongoing innovations in technology,” Glade said.
Riverstone Bank Regional President Lori Kirchhoff commented, “We are lucky that each one of our locations already has a wonderful staff of local people who truly care about giving our customers the best service possible.”
“I am excited about the level of lending power we now have. It puts us in an excellent position to be able to meet the growing financing needs of the local farmers, businesses, and residents we serve – not just today, but also over the long term,” Kirchhoff said.
According to Glade, the bank’s community focus remains unchanged. “We are still fully owned by Nebraskans who care about helping our state’s economy prosper. We intend to continue reinvesting in the communities we serve through loans that support area residents, as well as the continued growth of small businesses and ag operations,” Glade said.
This transaction was approved by the Eagle State Bank and Tri Valley Bank Board of Directors and by applicable bank regulatory authorities, including the FDIC, Nebraska Department of Banking and Finance, and the Federal Reserve.
About Riverstone Bank
Riverstone Bank was formed by the recent merger of two Nebraska community banks, Tri Valley Bank of Talmage, NE, and Eagle State Bank of Eagle, NE. The company’s legacy extends back to 1884 when the original charter was issued. The bank has shown solid growth and reports strong financials, with $118 million in assets, $102 million in deposits, and $92 million in loans. Riverstone Bank operates two full-service branches in Eagle, NE, and Talmage, NE, plus a Syracuse, NE loan production office. Currently, Steve Glade is the President & CEO, Lori Kirchhoff serves as Regional President, and Stephanie Patton oversees operations. Riverstone Bank serves agricultural, business, and consumer customers across Eastern Nebraska.