ROCHESTER and MINNEAPOLIS, Minn. — February 17, 2026 — Eagle Rock Bank and Riverland Bank today announced that they have entered into a definitive agreement to merge, uniting two Minnesota community banks with complementary strengths and a shared commitment to relationship-driven banking. Upon closing, the combined organization will operate under the Eagle Rock Bank name and will maintain a strong presence across the Twin Cities and Greater Minnesota. Additional terms of the transaction were not disclosed.

The merger will expand the combined bank’s Twin Cities footprint and meaningfully increase its lending capacity and treasury management capabilities, enabling broader support for small- and mid-sized businesses, home builders and developers, and professionals seeking high-touch banking services.

“This combination is an exciting step forward for our organizations and the communities we serve,” said Larry Schminski, Chief Executive Officer of Eagle Rock Bank. “Together, we will deliver deeper expertise, larger credit capacity, and an expanded product set—without losing sight of what matters most to our clients: responsive bankers, tailored solutions, and long-term relationships.”

“We are thrilled to join forces with Eagle Rock Bank and believe the combined partnership will enhance our ability to serve our customers,” said Stan Dufault, Interim Chief Executive Officer of Riverland Bank. “Our teams share similar values and a client-first culture."

The transaction is expected to close in the middle of the second quarter of 2026, subject to customary regulatory approvals and the approval of the shareholders of both institutions.

Eagle Rock Bank is being advised by Ballard Spahr LLP as legal counsel and Riverland Bank is being advised by Winthrop & Weinstine as legal counsel and TruStar Advisors as a financial advisor.

1. About Eagle Rock Bank
Founded in 1996, Eagle Rock Bank is a locally owned, relationship-driven community bank headquartered in Rochester, Minnesota. Built on genuine partnerships, Eagle Rock Bank takes time to understand each client’s goals and challenges, delivering tailored financial solutions. Eagle Rock Bank blends the personal attention of a neighborhood bank with the depth and expertise of a larger institution, offering niche banking services that help businesses and professionals grow with confidence. For more information, visit www.eaglerock.bank.

2. About Riverland Bank
Founded in 2005, Riverland Bank is a locally owned, Twin Cities–based community bank with metro locations in Jordan and Northeast Minneapolis, Minnesota. Focused upon providing a local, relationship based option for banking services, offering a better banking experience, and making a positive impact on the communities it serves, Riverland Bank provides personalized banking solutions to individuals, entrepreneurs, and businesses across the region, combining local decision-making with responsive service and a comprehensive suite of deposit, lending, and treasury services. For more information, visit www.riverland.bank.

3. Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the expected timing of the closing, anticipated benefits of the merger, and future plans of the combined company. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Factors that could cause or contribute to such differences include, among others, the ability to obtain required regulatory and shareholder approvals, the ability to successfully integrate the two organizations, and general economic conditions. Neither Eagle Rock Bank nor Riverland Bank undertakes any obligation to update any forward-looking statements, except as required by law.

4. Media Contacts
Eagle Rock Bank: Keeley Hruska, AVP Director of Marketing, 507-424-1564, khruska@eaglerock.bank