In the News

ICBA Community Banker of the Year: The 2017 Winners

December 1, 2017


Glenwood State Bank president Peter Nelson lives and breathes the golden rule to the benefit of employees, customers and the bottom line.


Most community bankers define the difference between their institutions and larger competitors in terms of customer service—usually the service that frontline employees provide to customers.

But for Peter Nelson, president of Glenwood State Bank of Glenwood, Minn., service is not simply about extra hand-holding from branch staff. He believes that the strength of his community bank and his skill as a leader lies in how he serves not just his customers but his employees. "In general, I try to focus on the people versus the bottom line," Nelson says. "Building [our bank] has been about investing in our people, growing those people and trying to get them to their highest levels."


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ICBA Announces Peter Nelson as Central Region Community Banker of the Year

October 16, 2017


Washington, D.C. (Oct. 16, 2017)—The Independent Community Bankers of America® (ICBA) announced that Peter Nelson, president of Glenwood State Bank in Glenwood, Minn., is the Central region winner of the association’s 2017 Community Banker of the Year award. This annual award recognizes the exceptional work and commitment of individual community bankers and their dedication to local communities.


"We are pleased to honor and recognize Peter Nelson as the Central region winner of ICBA’s Community Banker of the Year award," said ICBA Chairman Scott Heitkamp, president and CEO of ValueBank Texas in Corpus Christi, Texas. "As a dedicated, driven leader and compassionate and conscientious citizen, Peter’s contributions to his community and the betterment of our industry are to be commended."


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Glenwood State Bank joins top workplace list

July 10, 2017


Glenwood State Bank ranked No. 28 in a list of top small business employers compiled by the Minneapolis Star Tribune. The 150 Top Workplaces list is the result of an annual survey sent to hundreds of businesses in Minnesota and taken by thousands of employees.


The small business category consists of companies with 50 to 149 employees. Employees ranked Glenwood State Bank based on leadership, benefits, and the company's strategic direction without knowing the survey's intent.


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Glenwood State Bank breaks ground

October 22, 2016


(Glenwood MN) -- Glenwood State Bank in Glenwood Broke Ground on an expansion in Downtown Glenwood on Friday October 14th.


The expansion will be in two phases.  The first will add to the existing building adding additional office space.  The second phase will remodel of the existing facility.  "Over the past twenty years, we have grown our assets tremendously and doubled our staff size; because of this, we’re bursting at the seams at our Glenwood branch. We came upon the opportunity to expand and we took it! We’ve officially begun our expansion and remodel project, which should be wrapped up by next fall."


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Cornerstone of Glenwood business being transformed

August 29, 2016


With the rumble of heavy machinery, a cornerstone of Glenwood’s downtown landscape came down a few weeks ago in cascades of crashing bricks and plumes of dust. Once the site is prepped, work on the space’s new building will begin; Glenwood State Bank, the building’s neighbor to the east, is expanding to the corner.


That corner, Franklin Street N and Minnesota Ave. E, has long been a staple of Glenwood’s downtown commerce—first as a department store, then as a series of grocery stores, and finally, a drug store. Trumm Drug, the latest business to occupy the corner building, recently moved to Glacial Ridge Health System’s new Ridgewood Villa addition, leaving the space available...


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Glenwood State Bank named Top Workplace by Star Tribune

Top Work Places 2015June 14, 2015


Glenwood State Bank was recently named a 2015 Top Workplace by Minneapolis’ Star Tribune.  The Top Workplaces program is an annual survey sent to hundreds of businesses in Minnesota and taken by thousands of employees (almost 70,000 this year).  The result of the survey is a ranking of the top 150 companies.


Glenwood State Bank participated in this survey and ranked #44 in the small business category, which consisted of companies with 50 to 149 employees.  They were also the highest ranked community bank represented on the list.


The results of the Top Workplaces list are determined solely on employee feedback.  Employees ranked Glenwood State Bank based on leadership, benefits, and the company’s strategic direction without knowing the intent or purpose of the survey... 


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ICBA’s Top Loan Producers: Glenwood State Bank in Minnesota

June 24, 2014


Group PhotoGlenwood State Bank, a $211 million-asset community bank located 120 miles northwest of Minneapolis, has been creating loyalties in its community for 107 years. President Peter Nelson attributes the bank’s success in loan volume—it is ranked in a tie for 32nd place among the top 100 overall loan producers, with an 89 percent ratio between loans and assets—above all to its attitude toward customers.


“Typically, we restructure rather than foreclose,” Nelson says. “We keep the flexibility to work through the bumps and bruises where we perceive a good work ethic, good business sense, good product and willingness to listen.”


Helping when the chips are down solidifies relationships for the long haul. So does taking an initial chance on financing startups and entrepreneurs, who may begin their companies in garages but now employ hundreds... 


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Show Hosted by Larry King to Feature Glenwood State Bank

March 29, 2014


Peter Nelson President Glenwood State Bank photoGlenwood State Bank was recently recognized by In View as a national example of excellence in community banking.  In View, hosted by Larry King, produces educational television shows. Their purpose is to produce quality educational programming to inform, educate and enlighten their viewers. In View covers a variety of topics and has won many TELLY Awards for its educational programming.


The program will focus on the part community banks played during our nation's struggling economy over the past few years.  In View points out that not all banks are the same. They noticed that community banks, although often co‐mingled with larger banks, were different.


Their report shows how Community banks took additional risks to help the entrepreneurs and that Community banks do things larger banks won’t.  Things that may not always be what is best for the bank, but rather, what's in the best interest of the customerIn View realized that it was NOT community banks that drove our nation into the economic challenges, yet it will BE community banks leading us out!... 


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