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| Additional information |
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| Crow River State Bank |
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Mission statement:
Crow River Bank's mission is to be the preferred financial service provider in the communities we serve, to foster customer and employee relationships, and to ensure a fair return to our shareholders.
Our values align with and support our mission.
Integrity: We demonstrate trust, respect and the highest ethical standards.
Customers: We want what is best for our customers. We believe in providing personalized service that exceeds expectations.
Employees/Associates: We believe in being team players, treating others fairly, and creating positive, rewarding work environment that provides opportunity for professional growth. We acknowledge that our success is dependent upon the quality and dedication of our employees.
Communities: We support the financial and social health of our community. We believe in taking an active leadership role in the development of the communities we serve.
Performance: We achieve organizational goals to improve and provide shareholder value through sustained, profitable growth. We are well managed and sound in our lending and investment decisions. |
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History:
27 Years and Counting, a Look Back at Crow River Bank's History
A bank that was first envisioned by John Rief and John Seliski in 1977 is now entering its 27th year of operation in Delano. It took Rief four years to organize investors in the new bank, as well as apply for a bank charter, which was granted by the Minnesota Supreme Court Feb 11, 1982. Initial investors in the bank were Rief, Gordon Wetter, Don Hamilton, and Glen Litfin. The bank originally had more than 20 shareholders.
Its initial board of directors included dairy farmer Kermit Dietrich; president and director Donald Hamilton; director James Iten, owner of Iten Funeral Home; director Glenn Pilarski, an accountant; director Rief, who was the first chairman of the board; director Seliski, who was president of Arion Products Corporation in Golden Valley; director Dwain Stahlke, who had several business interests in the area; and director Wendy Weil, a Delano attorney. Hamilton, who moved to Delano in mid-1982, was the banks first president, and had prior banking experience in Redwood Falls, Marshall, and South Saint Paul. With the opening of the Crow River Bank, Hamilton said the bank has joined the State Bank of Delano in stirring the fires under the town economy.
The original organizers of the bank went to great lengths to keep the bank part of the community, as it depended highly on local residents for initial investments needed to raise the $1 million in capital needed. Of the 29 original shareholders, only two were from outside the immediate area.
In the late 80's, the bank was sold to one primary stockholder, Lloyd Jerpbak, who still owns the bank today. A staff of 28 employees operates the two banking locations in Delano and Mound, which was added in 1997. Hamilton had said that early on that the bank was to be innovative and up-to-date with the newest services. Holding true to these words some 20 years later, current management started online banking in 2005, online bill pay in 2006, and has plans to add a remote deposit program in late 2008. The bank also started a kids savings program "The Little Crows Club" in 2006. |
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