Bank of Zumbrota Personnel Changes

Frandsen Financial Corporation (FFC) executive vice president Rich Hoban announced leadership changes at the Bank of Zumbrota (BOZ), along with one retirement.

Current Bank of Zumbrota CEO and president, Jeff Perra, stepped down as bank president on June 9th and will retire effective August 31.  Replacing Jeff as BOZ’s bank president is Chris Nelson, president of Pine Island Bank (PIB).  Chris will oversee operations at both BOZ and PIB.  Jeff will remain as the CEO and a member of the Board of Directors at BOZ until his retirement.

Hoban states that “Chris Nelson is a seasoned leader, having been the president and CEO at PIB for the past five years, and an officer of the Bank for 14 years.” Nelson has a total of 22 years of bank experience in a wide variety of positions.  Nelson has also served on the Board of Directors for both BOZ and PIB for the past six years.  Jeff Perra added “Chris is well known to the staff at both banks, and has performed extremely well over his career.  We are ecstatic that we had such a strong leader already on the team”.

“I was truly blessed to enjoy a 40 year career in community banking”, Perra commented. “Banking provided an opportunity for me to understand and serve the community.  I am looking forward to spending more time with family and doing some traveling.”  Nelson states, “I would like to congratulate Jeff Perra on his 40-year career in banking and his upcoming retirement.  I look forward to working with the BOZ staff, customers and community.  We have a great organization.”

Hoban stated, “I’d like to thank Jeff for his dedicated service to BOZ.  The legacy the Perra family leaves on the Zumbrota community is indelible.  Jeff leaves the bank in great shape for Chris and the rest of the team.  I expect to see little change while the bank continues to grow and serve the community.”

Business banker and vice president, Dan Kingsley retired from Bank of Zumbrota on June 1.  “We are certainly going to miss Dan at the bank,” stated Perra.  “He was key to growing the bank, one relationship at a time.”  Current BOZ bankers Mark King, Brian Haugen, Darin Jensen, and Sherry Goplen will work with Dan’s customers for the time being, but the bank does plan to hire an additional commercial banker in the near future as part of their plan to continuing to grow and serve the businesses of Zumbrota and the surrounding communities.

About Frandsen Financial Corporation
Founded in 1982, Frandsen Financial Corporation is an inter-state bank holding company with three banks, Frandsen Bank & Trust with 35 full-service community bank offices (Frandsen Bank & Trust, in Minnesota, North Dakota, and Wisconsin, Bank of Zumbrota, and Pine Island Bank. Frandsen Financial currently has $3.0 billion in assets. Additionally, its Wealth Management & Trust division has over $432 million in assets under management. For more information, visit