State Bank of Richmond, Richmond, Minnesota, was organized June
1904. The original bank building was located on the northwest corner
of Central Avenue and Main Street where our present building was
in 1971. A later addition was built in 1993 to accommodate for rapid
growth in our area.
During the difficult Depression years, the State Bank of Richmond
adapted well to the changes and modifications needed to continue operating
and growing. Prior to 1934, Richmond had two banks, the American State
Bank and the State Bank of Richmond. When the American State Bank
had difficulties, an agreement was made to liquidate and sell their
assets and liabilities to the State Bank of Richmond for one dollar.
The basic philosophy of the State Bank of Richmond has always been
to focus our time and talents in the local neighborhood that we serve,
rather than branching out into other communities.
After celebrating our centennial anniversary in June, 2004, we continue
to focus on our goal to provide personal quality service to our customers
and our community.