Question 1

What is Eagle Rock Bank?

Accepted Answer

Eagle Rock Bank is a locally owned and operated community bank headquartered in Rochester, Minnesota. With approximately $279 million in total assets and $211 million in deposits, the bank specializes in commercial lending while offering a full range of personal and business banking services. As a state-chartered commercial bank regulated by the FDIC, Eagle Rock Bank focuses on providing personalized service and local decision-making to customers in southeastern Minnesota and the Twin Cities metro area.

The bank operates as the sole member of Olmsted Holding Corporation, a bank holding company also based in Rochester.

Question 2

When was Eagle Rock Bank founded?

Accepted Answer

Eagle Rock Bank was originally founded in 1996 as Olmsted National Bank. The institution underwent its first rebranding in 2018, becoming ONB Bank, before adopting its current name, Eagle Rock Bank, in 2024.

The bank was established to serve the Rochester metropolitan area with a community-focused approach to banking, emphasizing commercial lending and personalized customer service. Over nearly three decades, it has grown from a small community bank to a regional institution while maintaining its local ownership and commitment to decision-making at the community level.

Question 3

Where is Eagle Rock Bank headquartered?

Accepted Answer

Eagle Rock Bank is headquartered in Rochester, Minnesota, located in Olmsted County. The main office is situated at 975 34th Avenue NW, Rochester, MN 55901.

Rochester serves as the hub for the bank's operations and leadership team, including its President and CEO.

Question 4

Where does Eagle Rock Bank operate?

Accepted Answer

Eagle Rock Bank operates primarily in southeastern Minnesota with two currently active locations and one planned expansion. The bank's market presence includes:
• Rochester, Minnesota - Main branch with drive-up deposit facilities and ATM services
• Stewartville, Minnesota - Full-service branch with drive-up banking and ATM access
• Arden Hills, Minnesota - New Twin Cities metro branch scheduled to open in December 2025

The bank primarily serves customers in Olmsted County and the Rochester Metropolitan Statistical Area, with its upcoming Arden Hills location extending its reach into the Minneapolis-St. Paul metro market. The institution focuses on building relationships within these communities rather than pursuing broad geographic expansion.

Question 5

What services does Eagle Rock Bank offer?

Accepted Answer

Eagle Rock Bank provides comprehensive banking services for both personal and business customers:

Commercial Banking Services:
• Commercial and industrial loans
• Equipment financing
• Construction loans
• SBA guaranteed loans (the bank has historically been active in SBA lending)
• Commercial real estate loans
• Business checking and savings accounts
• Lines of credit for working capital

Personal Banking Services:
• Consumer checking and savings accounts
• Residential mortgage loans
• Home equity lending
• Personal loans
• Consumer credit products

Digital and Convenience Services:
• Online banking with 24-hour account access
• Telephone banking services
• Drive-up banking facilities at Rochester and Stewartville locations
• ATM services
• Drive-up deposit facilities

The bank emphasizes its ability to make lending decisions locally, providing faster responses compared to larger regional or national banks.

Question 6

What makes Eagle Rock Bank unique?

Accepted Answer

Eagle Rock Bank distinguishes itself through several key characteristics:

Local Decision-Making: Unlike larger banks with distant corporate headquarters, Eagle Rock Bank makes all credit and business decisions at the local level, enabling faster turnaround times and more flexible solutions for customers.

Live Customer Service: The bank emphasizes direct human interaction, ensuring customers can speak with actual bank personnel rather than automated systems when they call.

Commercial Lending Expertise: With a commercial lending specialization designation, the bank has developed deep expertise in serving business clients, including participation in SBA guaranteed lending programs.

Community Focus: As a locally owned institution operating for nearly 30 years under various names, the bank maintains strong ties to the Rochester area and southeastern Minnesota communities.

Relationship Banking: Eagle Rock Bank positions itself as a partner to customers, working collaboratively on business growth, wealth building, and financial planning rather than simply processing transactions.

Strategic Growth: The bank's planned expansion into the Twin Cities market through its Arden Hills location demonstrates measured growth while maintaining its community banking philosophy.

Question 7

What type of financial institution is Eagle Rock Bank?

Accepted Answer

Eagle Rock Bank is a state-chartered commercial bank with a commercial lending specialization. As a state-chartered institution, it is regulated by the FDIC and the Minnesota Department of Commerce, rather than the Office of the Comptroller of the Currency.

The commercial lending specialization reflects the bank's primary focus on serving business customers, though it maintains a full service platform for retail banking customers as well. This designation indicates that commercial and industrial loans, commercial real estate financing, and business services comprise the core of the bank's lending portfolio and strategic focus.

With 26 employees and 2 offices (expanding to 3), Eagle Rock Bank operates as a true community bank, balancing specialized commercial expertise with accessible personal banking services.

Eagle Rock Bank

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About Eagle Rock Bank in the United States