Ready for a bright future!
It’s no secret that the economic conditions of the past few years have been hard on everyone; consumers, businesses, charities, and municipalities alike. Among businesses Community Banks have been particularly hard hit, and the United States has watched as several hundred banks have closed recently.
Some of those closures have been in our own and neighboring communities. First National has been forced to deal with all the same problems other banks have faced, but has weathered the storm and is well positioned tome forward in what looks to be a strengthening economy.
Founded in 1902 and always headquartered in downtown Elk River, First National was established on a few simple principles: quality service, solid advice, trustworthiness, and community support have always been the foundation of how First national does business. Adherence to these principles saw First National survive the Depression years of the 1930′s, and a continuing commitment to the same values has seen First National through this recent deep recessional.
Several ingredients make a strong Community Bank in today’s readily changing marketplace. The first is financial strength. First National is a sternly capitalized bank, with capital reserves far greater that of those required by regulatory agencies. As a matter of fact, First national has the strongest capital position of any of the community banks in our trade area. Strong capital means that a bank has the financial strength and resources to meet the borrowing needs of its community, deal with any problems presented by the still struggling economy. and grow as its customers prosper.
The second ingredient is strong, innovative leadership. Led by President Becky Wiehoff, First National’s management team is young, energetic, creative, and very talented. First National’s Board of Directors represents a strong mix of current business leaders, former and current bankers, inspired community advocates, local professionals, and owners whose interest in the bank goes back five generations.
The third ingredient in First National’s success story is community involvement and dedication. Charitable giving, volunteerism, providing leadership, and deep concern for the well being of the communities and people served has been a hallmark of First National for 110 years, and will continue to be for as long as there is a First national Bank.
The First National Bank of Elk River: Financially strong, well managed, community committed, and ready to serve you today and well into the future.