History


Milestones

1906 - Glenwood State Bank building constructed at 15 E Minnesota Avenue and purchased for $6,250.00

 

1907 - Charter received on May 7

            First Day of Business on May 11

 

1961 - Glenwood State Bank relocates to 5 E Minnesota Avenue

 

1980 - Villard Branch opens at 440 Washington Avenue

 

1983 - Glenwood Branch remodels to "Northern European" theme

            Total Assets reach $25M

 

1997 - Glenwood Branch expands into Meyer's Shoes building (11 E Minnesota Avenue)

            Total Assets reach $50M

 

2002 - Glenwood State Bank acquires controlling interest of Financial Services of Lowry (Lowry State Bank)

 

2003 - Total Assets reach $100M

 

2006 - Peter J. Nelson becomes President

 

2008 - Alexandria Branch opens at 2221 S Broadway

 

2012 - Total Assets reach $200M

 

2013 - Mobile Banking App is released

 

2017 - Glenwood Branch expands and remodels Trumm Drug building at 1 E Minnesota Avenue

 

2018 - Loan Production Office opens in Detroit Lakes (714 Lake Avenue, Suite 104)

 

2019 - Total Assets reach $300M

            First National Bank of Osakis is purchased by Financial Services of Lowry

 


Our Board of Directors

  • Dennis E. Martinson
  • Paul K. Martinson
  • Jim Morrissey
  • Kari A.M. Nelson
  • Kirsten R.M. Nelson
  • Peter J. Nelson
  • Larry Zavadil

 


Our Past Presidents

  • Theodore Aune (1907-1936)
  • Julius O. Haugen (1936-1947)
  • Edward A. Walter (1947-1971)
  • Howard B. Williams (1971-1980)
  • Ralph E. Cheeseman (1980-1983)
  • Dennis E. Martinson (1983-2006)
  • Peter J. Nelson (2006 to date)

Learn about our Past Presidents >>