Citizens Alliance Agency, Inc. (a wholly-owned subsidiary of Citizens Alliance Bank announced it has completed the acquisition and legal merger with Goeman Insurance Agency, LLC, with locations in Clara City and Montevideo, Minn. The legal merger was completed on July 31, 2020.
Goeman Insurance Agency is a successful and highly respected full-line, independent insurance agency that has been under three generations of Goeman Family ownership, beginning with William Goeman Sr. in 1953. Kyle Goeman will become President of Citizens Alliance Agency and be responsible for the day to day operations of the agency, including agent recruitment and training, sales and customer development, customer service support, and lead Citizens Alliance Agency’s future strategic acquisitions. Citizens Alliance Agency’s operations will mostly be out of the previous Goeman Insurance Agency buildings in Clara City and Montevideo.
John Gill, President/COO of Citizens Alliance Bank commented that “The key drivers underlying the transaction and bringing these companies together were the cultural and corporate value similarities between the two organizations. The entities are multi-generational, family-owned businesses rooted in small communities with deep owner and staff commitment to earning and preserving customer respect and loyalty, providing impeccable customer service, and reinvesting in our communities.”
Citizens Alliance Agency will continue to offer property and casualty, life and health, and crop insurance coverage. Citizens Alliance Agency will be leveraging the footprint of Citizens Alliance Bank’s existing 12 branch offices located in West-Central Minnesota and Western Montana, thereby bringing the proven sales team of Citizens Alliance Agency into the market areas of the Bank.
“This acquisition allows us a great opportunity to expand our existing footprint and customer reach within communities that we know very well,” said Kyle Goeman. “[Our] commitment to the Clara City and Montevideo customers and the surrounding community will not change. Customers will continue to experience the benefits of working with a local independent agent, with local decision-making authority, and deeply committed to the success and future of their customers and businesses. We want to welcome the former Goeman Agency customers and employees to Citizens Alliance Agency. We look forward to providing exemplary customer service and a much broader product and service offering, which includes leading-edge digital technologies that customers need and desire.”
Citizens Alliance also announced that its agency will retain the tagline of Goeman Insurance Agency “Where Every Policy Comes With An Agent!”
Citizens Alliance Bank is a wholly-owned subsidiary of Forstrom Bancorporation Inc., which is owned by the Forstrom Brothers. Forstrom Bancorporation has consolidated assets of approximately $925 million. Together, Citizens Alliance Bank and Citizens Alliance Agency will employ about 175 people in 13 communities throughout West-Central Minnesota and Western Montana.