Excel’s new branch downtown emphasizes private banking’s return

Sara Ausman worked for 12 years for Minneapolis-based Marquette in private banking, until that bank and many others were gobbled up in consolidation. She joined Excel Bank, then based in Edina, three years ago.

Now she’s heading up a new office dedicated to private banking, on the skyway in downtown Minneapolis, open since January. The outpost’s opening follows Excel Bank’s headquarters move to downtown Minneapolis a year ago.

The private banking office targets professional service firms such as medical practices, architectural firms, and law firms on one hand, and the often wealthy professionals who are partners in those firms on the other. The satellite office, with about $60 million in assets, gives visibility to the private banking services, she says.

Meanwhile the original location, near 50th and France in Edina, has also been retooled with a focus on private banking for people who live in the suburbs vs. downtown.

Ausman, senior vice president for Excel, which has $500 million in assets total, says it’s a return of sorts for her. “A lot of the financial landscape is gone,” she says, after acquisitions in the early 2000s, especially.

Crown Bank, which started five years ago, just opened a branch downtown. “There’s a lot of boutiques popping up,” Ausman says.  “The opportunity is strong out there. We’re definitely growing.”

Sara Ausman, Excel Bank private banking: 612.238.2155; www.excelbankmn.com

Beth Ewen