Riverside Bank's Cleveland gives $1m to University of Minnesota

Northwestern Financial Review, Jan 22, 2000

The president of Minneapolis' Riverside Bank and his wife gave $1 million to the University of Minnesota's Carlson School of Management to boost the school's business-plan competition and its participation among students.

Dave and Carolyn Cleveland named the endowment after Riverside Bank, an institution friendly to small businesses. Cleveland has been a judge for the competition for the past two years.

The 66-year-old Cleveland was among three investors who started Riverside Bank on the university's West Bank 27 years ago. Under Cleveland, the bank grew to $350 million before merging with Green Bay, Wis.-based Associated BancCorp in August. Cleveland now leads Associated's Minnesota region.