Question 1

What is Security Bank & Trust?

Accepted Answer

Security Bank & Trust is a state-chartered commercial bank headquartered in Glencoe, Minnesota. With approximately $1.3 billion in assets and 26 full-service branches across Minnesota, the bank serves individuals, families, businesses, and agricultural clients throughout the state.

The institution operates as a community bank with multi-generational family leadership and ownership. Security Bank & Trust has been recognized as one of the best banks in Minnesota for its quality service, local decision-making, and commitment to keeping depositors' money working within the communities it serves.

Question 2

When was Security Bank & Trust founded?

Accepted Answer

Security Bank & Trust was founded on October 10, 1935, as Security State Bank of Glencoe by Arthur W. Hoese. The bank commenced operations during the Great Depression, demonstrating remarkable resilience during one of America's most challenging economic periods.

The bank purchased the building formerly owned by the Bank of Glencoe to start its operations. The first employees were Arthur W. Hoese (President), Frank Heaney (Cashier), Howard Hoese (Bookkeeper), and Dorothy Heaney (Stenographer). The bank's name was changed to Security Bank & Trust Co. when the Trust Department was established, reflecting expanded fiduciary services.

Question 3

Where is Security Bank & Trust headquartered?

Accepted Answer

Security Bank & Trust is headquartered in Glencoe, Minnesota. The bank maintains its corporate office at 2202 11th Street East in Glencoe, the same community where it was originally founded in 1935.

The bank continues to operate from its first location in Glencoe while having expanded significantly throughout Minnesota.

Question 4

Where does Security Bank & Trust operate?

Accepted Answer

Security Bank & Trust operates 26 full-service branches throughout Minnesota, serving communities across the state. The bank's locations include its original Glencoe headquarters, along with branches in Aberdeen, Brownton, Cambridge, Chaska, Cologne, Conde, Eden Prairie, Hamburg, Isanti, Mayer, Minnetonka, New Auburn, New Germany, Plato, Ramsey, Waconia (including an in-store location at Mackenthun's Foods), Watertown, Wayzata, White Bear Lake, and Winsted.

The bank has grown through both organic expansion and strategic acquisitions, establishing a strong presence in both rural agricultural communities and suburban metropolitan areas.

Question 5

What services does Security Bank & Trust offer?

Accepted Answer

Security Bank & Trust provides a comprehensive range of financial services including personal banking, business banking, agricultural lending, trust services, and wealth management. The bank offers checking and savings accounts, certificates of deposit, money market accounts, and various consumer loan products.

For businesses, the bank provides commercial lending, lines of credit, equipment financing, and cash management services. Security Bank & Trust emphasizes its agricultural banking expertise, working closely with farming and ranching families to support their operations across generations. The bank has invested significantly in digital banking technologies, offering cutting-edge mobile apps, online banking platforms, and remote deposit capabilities to provide 24/7 account access. Trust and wealth management services provide estate planning, investment management, and retirement planning solutions.

Question 6

What makes Security Bank & Trust unique?

Accepted Answer

Security Bank & Trust distinguishes itself through multi-generational family leadership and ownership. From founder Arthur Hoese to his son Clayton Hoese, and currently CEO Gale Hoese, the Hoese family has maintained leadership for three generations, operating on the same principles of personal relationships, trust, and community involvement.

The bank's core values emphasize Great People, Straight Talk, Going the Extra Mile, Common Sense, Results Not Promises, and Teamwork. Security Bank & Trust maintains a strong commitment to local decision-making, enabling the bank to provide customized solutions and responsive service. The bank's money stays local and fuels progress in Minnesota communities, supporting entrepreneurs, families, farmers, and neighbors. Security Bank & Trust has grown alongside its customers' successes for nearly 90 years, building lasting relationships that span multiple generations.

Question 7

What type of financial institution is Security Bank & Trust?

Accepted Answer

Security Bank & Trust is a state-chartered commercial bank with trust powers. The bank operates as a community-focused financial institution with particular expertise in serving small and medium-sized businesses, agricultural clients, and retail customers.

As a family-owned institution, Security Bank & Trust maintains independence and local control over decision-making. The bank combines traditional community banking values with modern technological capabilities, reinvesting continuously in both branch network expansion and digital banking infrastructure. The institution holds FDIC insurance and operates under regulatory oversight as a state-chartered banking entity.

Question 8

How has Security Bank & Trust grown over the years?

Accepted Answer

Security Bank & Trust has experienced significant growth through both organic expansion and strategic acquisitions. The bank expanded into neighboring communities in its early years and acquired its first branch, First State Bank of Brownton, which later merged into Security Bank & Trust.

Major growth milestones include the 2001 purchase of The People's Bank, the 2006 acquisition of Flagship Bank Winsted, the 2008 acquisition of Hamburg State Bank, the 2009 acquisition of Cambridge State Bank, and the 2010 acquisition of Flagship Bank Minnesota, which added six branches in Wayzata, Minnetonka, Eden Prairie, White Bear Lake, Ramsey, and Isanti. This expansion strategy has allowed Security Bank & Trust to serve a growing number of communities while maintaining its commitment to personalized service and community involvement.

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