First State Bank and Trust opened its doors as First State Bank of South Stillwater in 1914. As the community grew from South Stillwater into the town of Bayport, we grew along with it, becoming First State Bank of Bayport in 1923.
Over the years, our capabilities have broadened. We offer insurance and investments, in addition to progressive banking services. Our Trust Services Department, established in 1987, holds over $4 billion in assets. Besides the Bayport location, our branch network includes full service offices in Stillwater, Oak Park Heights, and Hudson. We also have part time offices at Boutwells Landing in Oak Park Heights, and Woodland Hill in Hudson.
We changed our name from First State Bank of Bayport to First State Bank and Trust in 2003 to better reflect our expanded services to various locations. What hasn't changed is our commitment to excellent personal service that you can trust. We are the same community bank with local ownership and management that was established more than one hundred years ago.
The names of our enterprising founders are deeply etched in the first chapter of our bank’s life story. The inaugural officers were L. E. Torinus (President); E.L. Hospes (Vice President) and James Schow (Cashier). Our Directors included Edward C. Kroger, Fred S. Lammers and Fred C. Andersen.
Former Presidents of First State Bank and Trust:
- L. E. Torinus, May 4, 1914 - September 7, 1922
- Fred C. Andersen, September 7, 1922 - January 6, 1959
- William E. Alvin, January 6, 1959 - October 16, 1969
- Keith R. Clements, October 16, 1969 - January, 1986
- Gregory L. Benson, January, 1986 - December 2006
- Peter J. Clements, January, 2007 - March 2020 (CEO through 12/31/2020)
- Jason A. Howard, March 2020 - Present