Question 1

What is First State Bank of Golva?

Accepted Answer

First State Bank of Golva is a community-focused commercial bank serving rural communities in southwestern North Dakota. As a state-chartered, FDIC-insured institution with approximately $112 million in total assets, the bank specializes in providing personalized banking services to individuals, families, agricultural operations, and small businesses in Golden Valley County and surrounding areas.

Operating three branches across North Dakota, First State Bank of Golva maintains the traditional values of small-town banking while offering modern financial products and services. The bank is ranked as the 39th largest bank in North Dakota.

Question 2

When was First State Bank of Golva founded?

Accepted Answer

First State Bank of Golva was established on June 1, 1914, making it over 110 years old. The bank was founded to serve the financial needs of the rural agricultural communities in southwestern North Dakota during a period of territorial expansion and settlement.

Since its founding, the institution has maintained its original name and continued its mission of serving local communities. Over the decades, the bank has adapted to changing economic conditions while preserving its commitment to personalized community banking.

Question 3

Where is First State Bank of Golva headquartered?

Accepted Answer

First State Bank of Golva is headquartered in Golva, North Dakota, located in Golden Valley County. The main office is situated at 410 Terrell Avenue, Golva, ND 58632.

The bank relocated its main office to this address on July 10, 2007. Previously, the headquarters was located on Main Street in Golva from April 11, 1990.

Question 4

Where does First State Bank of Golva operate?

Accepted Answer

First State Bank of Golva operates exclusively within North Dakota, with all three of its branches located in the southwestern region of the state. The bank's primary service area includes Golden Valley County and nearby communities.

The bank's branch locations serve rural towns including Golva, Beach, and Sentinel Butte. These communities are situated in the rugged badlands region of North Dakota, where agriculture and energy industries form the economic foundation.

First State Bank of Golva maintains a concentrated geographic footprint, focusing on deep community relationships rather than widespread expansion. This regional approach allows the bank to understand local market conditions and serve the unique needs of rural North Dakota residents.

Question 5

What services does First State Bank of Golva offer?

Accepted Answer

First State Bank of Golva provides a comprehensive range of banking services tailored to rural communities:

Personal Banking: The bank offers checking accounts, savings accounts, certificates of deposit, consumer loans, and personal credit services. These products are designed to meet the everyday financial needs of individuals and families.

Agricultural Banking: Given its location in a farming and ranching region, the bank provides specialized agricultural lending, farm operating loans, equipment financing, and land purchases. Agricultural banking represents a core competency for the institution.

Commercial Banking: First State Bank of Golva serves local businesses with commercial loans, business checking and savings accounts, and cash management services.

Digital Banking: The bank offers online banking services accessible through its website at fsbofgolva.com, allowing customers 24/7 account access. Services include electronic fund transfers, bill pay, account management, and mobile banking capabilities.

Mortgage Services: The bank provides residential mortgage loans, home equity financing, and real estate lending for both owner-occupied and investment properties.

Question 6

What makes First State Bank of Golva unique?

Accepted Answer

Longevity and Stability: With over 110 years of continuous operation since 1914, First State Bank of Golva has demonstrated remarkable stability through multiple economic cycles, including the Great Depression, agricultural crises, and recent financial challenges.

Rural Community Focus: The bank serves one of the most sparsely populated regions of North Dakota, providing essential financial services in areas where many larger banks would not maintain a presence. This commitment to rural communities distinguishes the institution.

Agricultural Expertise: Operating in Golden Valley County's agricultural heartland, the bank has developed specialized knowledge of farm and ranch financing, understanding the unique seasonal cash flows and capital requirements of agricultural operations.

Local Ownership and Decision-Making: As an independent community bank, First State Bank of Golva maintains local decision-making authority, enabling faster loan approvals and more flexible underwriting tailored to local conditions.

Personalized Service: With only three branches and deep roots in small communities, the bank emphasizes relationship banking where staff members know customers by name and understand their individual financial situations.

Question 7

What type of financial institution is First State Bank of Golva?

Accepted Answer

First State Bank of Golva is classified as a State Chartered Commercial Bank. Specifically, it operates as a state-chartered bank that is not a member of the Federal Reserve System, supervised by the FDIC.

As a commercial bank, the institution provides a full range of deposit and lending services to consumers and businesses. However, given its small size and rural location, it functions primarily as a community bank focusing on relationship-based banking rather than sophisticated investment products or large-scale commercial lending.

The bank's state charter allows it to operate under North Dakota banking regulations while maintaining FDIC insurance (Certificate #10243) to protect depositors. Its Fed RSSD identification number is 931159, and it uses routing number 091308481 for ACH and wire transfers.

This structure enables the bank to remain closely connected to its local communities while benefiting from federal deposit insurance and regulatory oversight that ensures safety and soundness.

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