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Bank History

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On December 31, 1901, a group of men met in Slayton, MN and pledged to invest their money in shares that would start a bank in Chandler, MN. Originally there were 120 shares of stock issued at $100.00 per share that would provide $12,000.00 of capital for the new bank. A meeting was set for the purpose of organizing the bank on January 7, 1902. A motion was made that there be seven directors for the new bank. The original directors were as follows:

T. Lowe

Burt Weld

C.L. Todd

Robert Fitzpatrick

S. Barrows

J.H. Jacobson

A.S. Dyer

C. L. Todd was elected chairman of the board and the bank’s first president. The first building used was a temporary wooden structure. This building was moved to the Welk farm north of Chandler when the permanent structure was built in 1902. This new building was completed on August 16, 1902 and business began in it on August 25, 1902. At the time the bank building was the only brick building on our main street.

A brand new building was constructed in 1976 on the former sites of the Dysthe store and Huisken Locker. This is the building we are still in today.

The State Bank of Chandler is a strong supporter of community organizations, businesses and events in the local area.