Question 1

What is Harvest Bank?

Accepted Answer

Harvest Bank is a community bank with deep agricultural roots, serving Central and West-Central Minnesota. With approximately $233 million in assets and four branch locations, Harvest Bank specializes in agricultural financing, commercial lending, and community banking services.

The bank was created through the consolidation of two historic Minnesota banking institutions, combining over a century of banking experience and local market knowledge. Harvest Bank is owned by Cattail Bancshares, Inc., and maintains a strong focus on serving farmers, business owners, and individual customers throughout the St. Cloud region.

Question 2

When was Harvest Bank founded?

Accepted Answer

Harvest Bank was officially born on February 18, 2013, through the consolidation of two sister banks: State Bank of Kimball (founded in 1901) and Atwater State Bank (founded in 1932), both owned by Cattail Bancshares, Inc.

State Bank of Kimball was established on August 8, 1901, as the first bank in the Kimball community. The bank survived the Great Depression, including the 1933 bank holiday declared by President Franklin D. Roosevelt. In April 1933, it acquired assets of the failing People's Bank of South Haven, though by August 1933, it required assistance through a loan from the federal Reconstruction Finance Corporation, which was paid off by 1940.

Atwater State Bank was founded in 1932, in the midst of the Great Depression, after the town had been without a bank for several years. The bank was purchased by the Meyerson family in 1985, who also acquired State Bank of Kimball that same year. Despite the agricultural crisis of the 1980s that challenged both institutions, they recovered and grew significantly, eventually merging to form Harvest Bank.

Question 3

Where is Harvest Bank headquartered?

Accepted Answer

Harvest Bank is headquartered in Kimball, Minnesota, in Stearns County. While the bank charter remains in Kimball, the holding company that owns the bank, Cattail Bancshares, Inc., is located in Atwater.

Question 4

Where does Harvest Bank operate?

Accepted Answer

Harvest Bank operates four full-service locations across Central Minnesota in the St. Cloud metropolitan statistical area. The bank serves customers in Kimball, St. Augusta, Atwater, and Kandiyohi.

The bank's service area spans rural agricultural communities and growing suburban areas, with offices strategically located to serve both its historic farming base and expanding residential markets.

Question 5

What services does Harvest Bank offer?

Accepted Answer

Harvest Bank offers a comprehensive range of personal and business banking services. Personal banking products include checking accounts, savings accounts, certificates of deposit, and residential mortgages.

The bank specializes in agricultural lending, offering operating loans and lines of credit, equipment financing, and land loans designed specifically for farming operations. Commercial banking services include business checking, business loans, and merchant services.

Digital banking capabilities include mobile banking with mobile check deposit, online banking with bill pay, telephone banking for 24-hour account access, and electronic statements. Customers benefit from access to three free ATM networks, providing convenient cash access throughout the region.

Question 6

What makes Harvest Bank unique?

Accepted Answer

Harvest Bank's heritage combines the strengths of two century-old banking institutions, bringing together the agricultural expertise of Atwater State Bank and the community banking tradition of State Bank of Kimball. This merger created an institution with complementary market strengths and shared local leadership.

The bank maintains a distinctive operational structure where decision-making is localized or shared, with large dollar loans typically reviewed in Kimball after local input, while investment decisions may originate in Atwater. This approach preserves the community banking model where decisions can come from any of the four locations depending on local expertise and customer relationships.

Harvest Bank's commitment to agricultural lending sets it apart, with specialized knowledge and financial programs tailored to the unique needs of farming operations. The bank's strong local presence is reflected in its community involvement and understanding of regional agricultural cycles and business patterns.

Question 7

What type of financial institution is Harvest Bank?

Accepted Answer

Harvest Bank is a State Chartered Bank, regulated by the State of Minnesota and the Federal Deposit Insurance Corporation (FDIC). As a state charter, Fed non-member institution, it is supervised by the FDIC rather than the Federal Reserve.

The bank operates as a community bank, maintaining its focus on serving local markets with personalized service and local decision-making authority. Harvest Bank is structured as a Subchapter S Corporation, which affects its tax treatment and ownership structure.

Harvest Bank

in the United States 🇺🇸

Crypto-Friendliness

All done!

About Harvest Bank in the United States