Roundbank

Roundbank was originally established on November 15, 1881, under the name The Farmers National Bank of Waseca. The institution underwent several name changes and significant transformations throughout its history, most notably on February 16, 1971, when it changed its name to The First State Bank of Waseca, moved its main office to 200 Northeast 2nd Street in Waseca, Minnesota, and switched its chartering agency to a state level while withdrawing from membership in the Federal Reserve System. In December 1992, Roundbank acquired Waldorf State Bank in Waldorf, Minnesota. The bank officially adopted the name Roundbank on February 1, 1993. On July 23, 2010, it further expanded by acquiring Community Security Bank in New Prague, Minnesota, as part of a government-assisted merger. Ultimately, on November 19, 2021, Roundbank merged with Minnwest Bank, based in Redwood Falls, Minnesota, becoming part of that institution.

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

1881-11-15Institution established. Original name: The Farmers National Bank of Waseca.

1971-02-16Institution withdraws from membership in the Federal Reserve System.

1971-02-16Changed Chartering Agency to State.

1971-02-16Changed Institution Name to The First State Bank of Waseca.

1971-02-16Main Office moved to 200 Northeast 2nd Street, Waseca, MN 56093.

1992-12-01Acquired Waldorf State Bank in Waldorf, MN.

1993-02-01Changed Institution Name to Roundbank.

2010-07-23Acquired Community Security Bank in New Prague, MN as part of a government assisted merger.

2021-11-19Merged and became part of Minnwest Bank in Redwood Falls, MN.