Welcome to the website of First State Bank Southwest.

At First State Bank Southwest, we are truly a community bank and are very proud of that fact. With ownership and directors residing in the area, we can make decisions very rapidly and can be flexible and sensitive to the needs of our customers. The First State Bank Southwest was chartered in 1903 and now has offices in six locations to help service our customers in southwest Minnesota: 202 2nd Ave., S.E. in Pipestone, MN; 760 Main Street in Edgerton, MN; 11665 110^th St., Leota; 103 N. Thompson Ave., Rushmore, MN; 1433 Oxford St.., Worthington, MN; and 1055 Ryan’s Rd., (inside the Wal-Mart Store), Worthington, MN.

This website is intended to provide you with complete and accurate information about our products and services. In addition, with the use of our on-line banking service, you can conduct most of your banking services right from the comfort of your home or office.

Your feedback is important to us. After you have navigated our website, we invite any comments that you have to help our Internet service be the best possible. If you would like, you may e-mail your comments by using the "Contact Us" button on this site.

Our desire is to provide you with the best on-line banking service available.

Sincerely,

Alvin D. Kooiman
President

Chartered 1903 Rushmore Office	Opened 1984 Oxford Street Worthington	Opened 1999 Pipestone Office
Opened 2000 Wal-Mart Office Worthington Opened 2002 Edgerton Office Opened 2003 Leota Office

Mission Statement

As an independent community bank since 1903, our mission is to:

• meet and exceed customer needs by providing innovative high-quality financial products and superior, personalized service resulting in lasting customer relationships;
• promote a working environment that encourages, recognizes and rewards positive attitudes, employee development, teamwork, and exceptional performance;
• enhance the quality of life by encouraging active involvement in the communities we serve, without compromising the interests of our families;
• create long-term value for our shareholders through profitable growth.

History

Rushmore State Bank was organized on May 3, 1903 in Rushmore, Minnesota, with capital of $20,000.00. The first officers were Robert Shore, President (1903 to 1908): S. B. Bedford, Cashier and J. Burr Ludlow, Assistant Cashier. S. B. Bedford became President in 1909 and served until 1926.

There was also a First National Bank, which organized on May 14, 1903 in Rushmore. The two banks operated individually until June 19, 1926, when they decided to consolidate under a State Charter and the name was changed to the First State Bank of Rushmore. At this time, the bank was capitalized at $30,000.00 with $10,000.00 surplus. Deposits were about $560,000.00 and loans totaled $450,000.00. The first officers were S. B. Bedford, Chairman of the Board; Frank J. Johnson, President (1926 to 1944); Leo Hartfiel, Cashier and D. C. Shore, Assistant Cashier. S. T. Wood served as President from 1944 to 1956 and D. C. (Del) Shore from 1956 to 1978.

During the great depression, First State Bank of Rushmore remained solvent when many neighboring banks closed. Jerry Engelkes became the President in 1978 and served until his death in 1980. Craig Korkow was living in Adrian and employed by the Adrian State Bank at the time of Jerry Engelkes' death. Craig came to Rushmore to assist the staff and later became the President of First State Bank of Rushmore serving until 1983. Eugene Platt became President in 1984 and served until 1995.

The Farm Crisis of the 1980's caused many banks to call in their farm loans or refuse additional credit. First State Bank of Rushmore stood behind their farm customers and still does today.

A branch office was opened in Worthington, Minnesota in January 1984. Due to excellent growth that building was soon outgrown and a remodeling project began to enlarge the facility. The staff grew, business flourished and a larger facility was needed again. This time it was decided to build a new bank at a new location at 1433 Oxford Street in Worthington.

In October 1999, an office was opened in Pipestone, Minnesota. The Charter was moved to Pipestone, thus constituting the need to change the name. Effective October 11, 1999, we became the First State Bank of Pipestone, Rushmore, and Worthington.

On January 26th, 2000, we opened another office in Worthington, this one located in the Wal-Mart Super Center at 1055 Ryan's Road. This location was opened to better serve our customer with extended hours.

To reflect their presence in southwest Minnesota, the name of the bank was changed to First State Bank Southwest in May 2001. Along with this, they also began their Internet Bank with the address of www.firststatebanksw.com.

First State Bank Southwest opened a new office in Edgerton on September 3, 2002. A new facility was built on the corner of Main Street and Maple Street which includes a 24 hour ATM and a Drive-up window, both of these being a first for the community of Edgerton. On June 23, 2003, the First State Bank Southwest purchased the Bremer offices in Edgerton and Leota. The Edgerton Bremer office was then merged into the Edgerton First State Bank Southwest office.

Alvin D. Kooiman became the President in 1996 and is still in this capacity today. He is also the Chairman of the Board. Current members of the Board of Directors are Paul Anema, Jeff Pronk, Greg Raymo, Ronald Schaap, Brian Larsen and Erlin Weness. As of December 31, 2009 the total assets of First State Bank Southwest were $ 181,861,120.00.