ROCHESTER, Minn. — December 10, 2025 — Eagle Rock Bank today announced the upcoming retirement of President and co-CEO Brad Becker at the end of 2025 and ensuing leadership transition as the bank marks the start of a new chapter. Since joining Eagle Rock Bank in 2013, Becker has been instrumental in strengthening the bank’s capital position and guiding it through a period of economic challenge. Becker led the growth of Eagle Rock Bank with four capital raises, and growing assets from $50 million to $275 million.  Becker will remain involved in the bank’s Board of Directors, while several members of the leadership team are elevated to new leadership roles.  In retirement, he plans to focus on family, stay active in the community, and continue to promote pro-business initiatives.

Larry Schminski, current co-CEO, will become the bank’s sole CEO responsible for leading the bank’s strategic direction, ensuring growth and profitability, and focusing on business development. A former FDIC examiner with more than 30 years of financial experience, Schminski has a deep understanding of commercial banking and regulatory requirements. In addition to playing a significant role in the bank’s growth, he also serves on the Board of Directors of the bank.

“We are in a moment of evolution, not change in direction,” said Larry Schminski, co-CEO at Eagle Rock Bank. “We are incredibly grateful for Brad’s leadership, and while he makes way for new leaders to rise, he will continue to serve on Eagle Rock Bank’s Board helping to ensure our continuity, growth, and success.”

Senior Vice President Kelly Nelson has also been named President of Eagle Rock Bank. After working with Becker for nearly a decade earlier in her career, Nelson joined Eagle Rock Bank in 2024, inspired by the bank’s vision and momentum. A certified public accountant with more than 20 years of experience in local financial institutions, Nelson brings a strong background in strategic growth and business banking. She has made strides to prepare Eagle Rock Bank for continued expansion.

“Kelly is a familiar face with a clear vision for Eagle Rock Bank’s future. She is ready to step into her new role to help lead our next chapter on day one,” said Brad Becker, co-CEO of Eagle Rock Bank. “Larry and I have known each other for 35 years from our time working at the FDIC. Since joining the bank in 2021, he has been instrumental in our growth and commitment to exceptional customer service. Eagle Rock Bank is poised for continued growth — expanding our banking expertise, empowering our teams, and deepening our community investment.”

Kelly McCloskey is the third member of the Executive Team. She joined the bank in June 2023 as Chief Operating Officer and Director of Human Resources. With 15 years of banking experience, McCloskey previously worked with Schminski at a prior institution, where she played a key role in building a successful Construction Development Mortgage division. She brings a strong understanding of relationship banking and recognizes the critical importance of collaboration between production and operations.

The new leadership positions take effect on Jan. 1, 2026.

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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 creative financial solutions tailored to their needs. Eagle Rock Bank blends the personal attention of a relationship bank with the depth and expertise of a larger institution, offering niche banking services that help businesses and professionals grow with confidence.

Through its Soaring Hearts program, Eagle Rock Bank invests back into the communities it serves — measuring success not just through earnings, but also through giving.

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