MINNEAPOLIS, MN – January 2, 2026 – First Resource Bank (FRB) is proud to announce a major milestone in its long-term succession plan. Effective January 1, 2026, Aaron Siegle has assumed the role of Chief Executive Officer, and Charlie Anderson has stepped into the position of President and Chief Operating Officer. Tim Siegle, the bank’s outgoing CEO, will transition to Chairman of the bank’s holding company, Ameri Financial Group, Inc., and will serve as Vice Chair of the FRB Board of Directors.
This transition represents the final phase of a strategic plan launched years ago when the bank operated as Eagle Valley Bank. At that time, ownership and leadership—including FRB Chairman Larry Holtz and former CEO John Seidel—made a deliberate decision to invest in the next generation of leaders rather than pursue an external sale. That choice led to the acquisition of First Resource Bank and the implementation of a multi-year mentorship and growth strategy.
Under Tim Siegle’s leadership, First Resource Bank has grown into a premier financial institution with six locations, over 80 employees, and total assets of $830 million. The bank remains committed to its three core values: providing unequalled service, having a team approach, and making a positive impact on the communities it serves.
“Because of the willingness of our leadership to allow the next generation to step into these roles, something truly special has materialized,” said Tim Siegle. “The plan has worked to perfection. I honestly believe we have the most talented staff in the Twin Cities, and the momentum and success we’re seeing are beyond what anyone imagined. It has been a gift to serve as CEO, and I am excited to see Aaron and Charlie lead this bank into its next chapter.”
Aaron Siegle, who previously served as President and has been a member of the Board of Directors since the bank’s transition, expressed his enthusiasm for the future. “I am incredibly honored and genuinely excited to step into the role of CEO,” said Aaron Siegle. “I have watched leadership here set a standard of gratitude and humility that I deeply respect and intend to carry forward. Our staff is the foundation of this organization, and their commitment makes this not only a successful bank but a great place to work. I’m ready to keep building on our momentum.”
Charlie Anderson, who joined First Resource Bank following a finance career at Piper Sandler and has served as the bank’s Executive Vice President and Chief Operating Officer, will now assume the role of President. “I am honored to take on the role of President and continue working alongside such a talented team,” said Charlie Anderson. “First Resource Bank has always been about more than just transactions; it’s about the entrepreneurial spirit and the relationships we build with our clients. I look forward to partnering with Aaron to continue our growth and uphold the values that make this bank unique. I also want to thank the Bank Board of Directors, Tim Siegle, and Larry Holtz for this incredible opportunity.”
About First Resource Bank
First Resource Bank is a full-service bank serving the needs of small businesses, entrepreneurs, and real estate investors in the Twin Cities and surrounding areas. The bank focuses on providing prompt client service and simple lending and deposit solutions. First Resource Bank has six locations and total assets of $830 million. It is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For more information, please call (651) 351-1200 or visit http://www.myfrbank.com
Chairman
Chief Executive Officer
President – COO