VOLUME 32, NUMBER 1
©2016 Law Bulletin Publishing Co.
January 2016
Bloomington’s Bridgewater Bank strengthens its presence in Twin Cities market By Dan Rafter, Editor
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loomington-based Bridgewater Bank is growing. The financial institution signed a merger agreement with First National Bank of the Lakes, a bank based in Orono, Minnestoa. The merger, once it officially closes, will give Bridgewater Bank a larger footprint in the Minneapolis market and a stronger presence in the Twin Cities' western suburbs.
First National Bank of the Lakes has about $76 million in assets and operates four branches. Bridgewater Bank, before the merger, had more than $925 million in assets and four branches serving Minneapolis and its southwest suburbs. This means that the newly combined bank will end up with assets of more than $1 billion. The bank's headquarters will remain at 3800 American Blvd. West in Bloomington. Jerry Baack, chairman of the board of Bridgewater Bank, said that the time was right for his bank to make this move. Bridgewater Bank to page 19
Marshall Saunders: Using the power of crowdfunding to turn ordinary people into real estate investors By Dan Rafter, Editor
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arshall Saunders believes in the power of crowdfunding, and he believes that it can help ordinary people invest in real estate. That's why Saunders, a Minnesota native who now lives in Saint Paul, founded SaundersDailey, a real estate crowdfunding platform that lets smaller investors own a piece of their own neighborhood.
“There is something about crowdfunding that has always appealed to me,” Saunders said. “There is a basic fairness to it. A lot of people are left out of income-producing properties. They are not asked to participate. They need to bring large amounts to be able to invest. With crowdfunding, people can be involved with a much smaller investment required.” A visit to SaundersDailey shows exactly what Saunders means. Check out the company's Web site at SaundersDailey.com, and you'll find a multifamily
property in Minneapolis that you can invest in for just $2,500. That property is expected to bring a 5.98 percent to 8.65 percent dividend return each year and another 12 percent to 14 percent return on your original investment when the property is sold. Another multifamily property in Minneapolis is expected to bring a yearly dividend return of 6.18 percent to 7.74 percent. You can invest in this property Crowdfunding to page 14