It all began in 1904 in the town of Bertha.
The history of Star Bank goes back over 100 years ago, to 1904, when a national bank was chartered under the name of The First National Bank of Bertha, in Bertha, Minnesota. For the next 80 years, it operated as a single location bank, until 1984 when The First National Bank of Verndale (Minnesota) was purchased and merged into this charter as a branch office. The two offices operated as First National Bank of Bertha-Verndale until March 2000.
In March, 1990, Mr. Harold (Harry) G. Wahlquist formed a holding company, First Community Bank Group, Inc., and purchased the bank. Since 1990, the bank has grown from two offices to ten offices with the acquisition of Citizens State Bank of Barrett (1995); the name change of the holding company to Midwest Bancorporation, Inc. (1995); the acquisition of the Elbow Lake and Wheaton Offices of Metropolitan Federal Savings and Loan (1995); First State Bank of Graceville (1995); the merger of charters and name change to Star Bank in 2000; acquisition of the Eagle Bend Office of Lake Country State Bank of Long Prairie (2001); a loan production office in Annandale (2004); the opening of de novo branches in Annandale (2005) and Eden Prairie (2010); and the acquisition of the Maple Lake Office of the First National Bank of Elk River (2012).
Family Ownership and Management
Today, Star Bank is still led by Harry Wahlquist, President & CEO and Chairman of the Board. In addition, two other members of the Wahlquist family are part of the Senior Executive Team: Andy Wahlquist – Senior Vice President & Chief Operations Officer, and Katie (Wahlquist) Incantalupo – Senior Vice President & Chief Administrative Officer. The Bank truly is a family-owned and operated business. The Wahlquist's have a Family Council which meets on a quarterly basis to discuss the Bank and its strategic issues.
The solid family values, friendly personal touch, and a strong commitment to employees, customers and communities are cornerstones of the Bank…and distinct advantages in today’s market.
“We are proud of the heritage of the Bank, and appreciate the thousands of wonderful relationships that have been established through the years. We are excited about the future and have an unwavering commitment to excellence as we continue our mission to serve our customers.”
- Harry Wahlquist, President & CEO and Chairman of the Board
Pictured from left to right are: Katie (Wahlquist) Incantalupo, Andy Wahlquist, and Harry Wahlquist