Arcadian Bank names new CEO

Published 8:00 pm Tuesday, June 11, 2024

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Arcadian Bank announced the promotion of Mark Heinemann to the position of CEO of Arcadian Bank, formerly known as Farmers State Bank of Hartland.

“With 20 years of experience, all at Arcadian Bank, Mark has earned the position of CEO to go along with his current title of president, which he has held since the bank was purchased 10 years ago,” said Daniel Otten, the bank’s current CEO and chairman. “Mark and I have worked closely together over the last 20 years with the ultimate goal of purchasing the bank through a community funding effort. That came to fruition in 2014 with the formation of Minnesota Community Bancshares and the purchase of the bank from the Skophammer family. Since then, the bank has exceeded all growth and earnings expectations and is now the largest bank in Freeborn County.”

Though retiring from the CEO role, Otten will continue to interact with clients as a commercial lender and retain his role as board chairman for both the bank and holding company. To assist Heinemann with administrative duties, Michael Yocom, the bank’s current vice president of ag lending and chief credit officer, will take on a new role as executive vice president.

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We are very excited to have Michael step up and take on this new role and essentially continue the dual management structure that Mark and I have enjoyed over the last 10 years,” Otten said. “Both Mark and Michael are well suited for taking the bank to the next level, whether it be through organic growth or acquisition.”

Otten will continue to have office hours but less of them. Yocom, who primarily works out of the bank’s Freeborn branch, will also continue his existing lending responsibilities in addition to the EVP role.

Arcadian Bank is an FDIC insured institution chartered out of Hartland, with total assets of $220 million. The bank employs 32 people with branches in Albert Lea, Hartland and Freeborn. They specialize in agriculture, commercial and home lending plus offer a full array of digital deposit services.