American Federal Bank Celebrates 125th Anniversary

American Federal Bank celebrates its 125th Anniversary this year.

Founded in 1891 in East Grand Forks, MN as a neighborhood savings and loan association, helping customers save money, buy and build homes and businesses and purchase farm land, American Federal today is a financially-strong, employee-owned community bank with 13 full-service locations in 12 Minnesota and North Dakota communities. 

The Fosston banking location joined the American Federal family in 1994 when the bank acquired the Fosston location of TCF Bank Minnesota.

 

New Bank Building

In 2007, American Federal built a new 5,800 square-foot bank building at 209 Johnson Avenue North, just north of its first home in Fosston.  The bank features the architectural and customer service hallmarks of American Federal’s newest buildings.  Fours Bankers and four Associates provide trusted advice and local service and support.

“The way we do business has not changed over the years,” said Fosston Market President Dan Paulson.  “We focus on our core values of honesty, excellence and client success.”

“We have been with our clients every step of the way, helping them find the best solutions to reach their goals, whether it is home ownership, saving for retirement, farm or business expansion, protecting assets, or transferring operations to the next generation,” Paulson said.  

“Our Ag, Business and Personal Bankers have the financial and industry expertise and specialized knowledge to understand our clients and their farm or business operations,” Paulson continued.  “We are technologically sophisticated and big enough to handle the credit, banking and investment needs of our clients, yet small enough to give individual, personalized attention and to care about our customers.”

“Just as we did at the beginning, our credit decisions are made by local American Federal Bankers who are accessible, who know and understand their clients and their operations, who build long-term, face-to-face relationships with their clients, and who live, work and volunteer in their communities,” Paulson said.

American Federal is a Top 100 Ag Lender and is ranked as a superior-performing financial institution in the United States.

“Our future is as bright as our past.  We will continue our focus on our clients’ success, maintaining our independence as an employee-owned organization with growth through solid performance,” Paulson said.