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Scandia American Bank & Trust
       
 
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Scandia American Bank & Trust
 
 
History: 

The history of the Scandia American Bank & Trust forms the opening chapters of many movements in the banking industry throughout Mountrail County, North Dakota.

Scandia American Bank & Trust was chartered and capitalized in the amount of ten thousand dollars on March 17th, 1910 in Palermo, North Dakota.

In the spring of 1933 the bank’s charter was moved from Palermo to Stanley, the County Seat of Mountrail County. This move proved to be a turning point in the bank’s operation, as well as a benefit to the community. It was the only bank of approximately 40 charters that survived the depression without merging, securing debentures or closing.

In 1980 on its 70th Anniversary Scandia American Bank & Trust moved into its current headquarters at 015 S Main ST Stanley, North Dakota. The banks assets were $18,767,000.00.

The banks assets were $91,961,567.00 at the closing of December 31, 2009.

January 2010 CountryBank USA, of Cando and Devils Lake North Dakota was merged into Scandia American Bank & Trust.
Formerly known as:  Scandia American Bank


 
 
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