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Business Briefs

Culligan honors Johnson

FAIRMONT — Richie Johnson of Fairmont recently was honored for 20 years of service as a Culligan dealer. The business was started in Fairmont by his grandfather, Glen, and then run by his father, Richard, before Richie Johnson bought the operation in 1997.

Barrett, Jeppson join bank

NORTH MANKATO — Pioneer Bank announces the addition of Jeff Barrett and Lance Jeppson to their Mankato and St. James locations.

Barrett is originally from St. James and is a graduate of St. Thomas University. He has seven years of experience as a banker and will serve as assistant vice president and ag/business banker in St. James.

Jeppson is originally from St. James and is a graduate of Winona State University. He has 15 years of experience as a banker and will serve as vice president and business banker in Mankato.

Carpet Plus team attends seminar

FAIRMONT — Carpet Plus of Fairmont and Worthington, along with CFI certified installer Matt Becker, recently attended a Mohawk air.o installation and information seminar in Okoboji, Iowa. The event featured a Mohawk installation crew from Georgia, and focused on installation techniques, jobsite preparation, recommended handling and trimming options.

Red Dot promotes sales managers

SHERBURN — Mobile HVAC manufacturer Red Dot Corporation has promoted Sherburn-based Ryan Baker to director of after-market sales.

Baker will serve as director of Red Dot’s after-market sales group, managing his team as they partner with distributors to service fleet owners and operators with medium- and heavy-duty HVAC systems and parts.

Baker has more than 25 years of experience in the industry.

Citigroup to pay $100 million

NEW YORK (AP) — Citigroup agreed Friday to pay $100 million to settle charges that its bankers manipulated an important interest rate used to price everything from credit cards to mortgages.

It is the latest major bank to settle charges related to the manipulation of the London Interbank Offered Rate, better known as Libor.

Citi will pay $100 million to the New York State Attorney General’s office and 41 other states involved with the investigation, New York Attorney General Barbara Underwood said Friday. New York has been leading the Libor investigations due to size of the banking industry and with Wall Street based here.

The New York AG’s office alleged that Citi earned millions in revenue off manipulating Libor, along with other financial institutions.

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