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Independent Bank history
Independent Bank company history timeline
In 1921, there was a disastrous fire on Main Street; the Bank only suffered water damage because of the brick structure as the flames spread throughout the wooden structures along the street.
When it reopened in 1931, William Palmer was President.
Russell nearly lost its Bank again in 1934, when stockholders voted to move it to Marshall.
Jim Ulvilden came to the Bank in 1953 as Ag representative and later bought the Bank.
In 1983, the new owners made plans for an expansion and remodeling project, giving Russell the finest, most modern and up to date banking facility in Southwestern Minnesota at that time.
In December of 1994, Farmers State Bank of Russell changed its company name to First Independent Bank.
The Marshall connection proved valuable in First Independent Bank’s next endeavor: the purchase of the Wood Lake Bank and its branch Bank in Hanley Falls in August of 1996.
In April 1999, the First Independent Bank purchased the former 21st Century Bank in Balaton.
On December 5, 2001, United Prairie Bank – Slayton entered into an agreement to sell the assets and liabilities of its Marshall Branch office to First Independent Bank.
In the fall of 2004, the Board of Directors at First Independent Bank were approached about opening an in-store branch at the new Super Walmart store in Marshall.
On December 30, 2011, the merger was completed and Lucan added $40 million in assets and offered yet another location for our growing customer base.
© 2021 First Independent Bank
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Independent Bank competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| University Of Illinois Employees Credit Union | 1932 | $50.0M | 85 | 1 |
| Frost Bank | 1868 | $1.4B | 4,685 | 51 |
| Federal Reserve Bank of Dallas | 1919 | $171.9M | 1,000 | - |
| First Financial Bank | 1890 | $518.6M | 1,500 | 72 |
| Northstar Bank of Texas | 1973 | $4.0M | 50 | - |
| Leumi | 1954 | $300.5M | 200 | - |
| Credit Agricole CIB | 2012 | $53.0B | 160,000 | 29 |
| WeStreet Credit Union | 1943 | $54.0M | 375 | 8 |
| Pacific Continental Bank | 1972 | $97.8M | 377 | - |
| HFP Corporation | 1972 | $13.0M | 100 | - |
Independent Bank history FAQs
Zippia gives an in-depth look into the details of Independent Bank, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Independent Bank. The employee data is based on information from people who have self-reported their past or current employments at Independent Bank. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Independent Bank. The data presented on this page does not represent the view of Independent Bank and its employees or that of Zippia.
Independent Bank may also be known as or be related to Banks Group, INDEPENDENT BANK GROUP INC, Independent Bank, Independent Bank Group Inc and Independent Bank Group, Inc.