Northern Sky Bank

Northern Sky Bank was established on January 1, 1916, originally operating under the name Crookston Trust Company. Over the decades, the institution underwent several changes. On November 21, 1945, it changed its name to Crookston National Bank and became a member of the Federal Reserve System, with its primary federal regulatory agency being The Office of the Comptroller of the Currency. On April 28, 1997, the main office was relocated to 1901 Sahlstrom Drive in Crookston, Minnesota. Significant transformations occurred on December 12, 2016, when the bank changed its name to Northern Sky Bank, transitioned its primary federal regulatory agency to the Federal Deposit Insurance Corporation (FDIC), and withdrew from the Federal Reserve System to operate as a state-chartered bank. On March 20, 2021, Northern Sky Bank merged with United Valley Bank, located in Cavalier, North Dakota, marking the end of its independent operations.

Below is a list of some important events in banks history, including mergers and acquisitions.

1916-01-01Institution established. Original name: Crookston Trust Company.

1945-11-21Institution becomes member of the Federal Reserve System.

1945-11-21Changed Chartering Agency to The Office of the Comptroller of the Currency.

1945-11-21Changed Bank Class to National Bank, member of the Federal Reserve System (FRS).

1945-11-21Changed Primary Federal Regulatory Agency to The Office of the Comptroller of the Currency.

1945-11-21Changed Institution Name to Crookston National Bank.

1997-04-28Main Office moved to 1901 Sahlstrom Drive, Crookston, MN 56716.

2016-12-12Institution withdraws from membership in the Federal Reserve System.

2016-12-12Changed Chartering Agency to State.

2016-12-12Changed Bank Class to State Chartered Bank, not member of the Federal Reserve System (FRS).

2016-12-12Changed Primary Federal Regulatory Agency to FDIC.

2016-12-12Changed Institution Name to Northern Sky Bank.

2021-03-20Merged and became part of United Valley Bank in Cavalier, ND.