WAITE PARK - A longtime family-owned bank in the St. Cloud area is being sold. Plaza Park Bank has announced they are being acquired by Deerwood Bank.

The transaction is expected to close during the first quarter of next year, subject to regulatory approval.

Plaza Park Bank has branch locations in Waite Park and Sartell.

The Eickhoff family has owned and operated the bank since they opened in Rockville in 1910.

All of their 40 employees will be offered jobs with the Deerwood Bank team.

Deerwood Bank was also founded in 1910 and has several branches in northern Minnesota and in the Twin Cities.