On Wednesday, July 31st, Platte Valley Bank mailed out several hundred letters to Minatare area bank customers notifying them of the closure of the Minatare Bank location effective Friday, November 1st, 2019.
The letter was drafted by Zac Karpf, Chief Operating Officer of Platte Valley Bank. The bank in Minatare opened as Minatare State Bank in 1963. It operated independently until 1989 when it was bought by First National Bank of Morrill. It was purchased by Platte Valley Companies in 1996 and operated under the name Platte Valley National Bank through 2008. It was renamed Platte Valley Bank in 2008 and operates under that name today.
Mr. Karpf commented, “The decline in the population of the City of Minatare and the economic impact of that decline has led our company to this difficult decision. We will continue to provide a full-service ATM in Minatare along with our popular mobile and digital services to ensure that Minatare and surrounding residents maintain access to their bank accounts. And we remain committed to supporting the Minatare community through charitable contributions and sponsorships of community events in the future. There will be no positions eliminated at Platte Valley Bank as a result of this decision and we are pleased that all of our Minatare Bank associates will continue to serve our valued customers at our other Bank locations.”
An ATM will continue to be conveniently located in Minatare for customer use. Platte Valley Bank will be donating its commercial real estate to a governmental agency or non-profit in the Minatare area who would like to use the space.