Contact our Trust Services Department


Chad A. Fett, CTFA, CFP® // Executive Vice President – Trust

Chad started his career with First State Bank and Trust in 1987 and he moved to the Trust Services Team in 2001. He is responsible for the day to day management of the department and enjoys working with clients on investment options, retirement planning and trust administration.

His professional designations include Certified Financial Planner (CFP®), Certified Trust and Financial Advisor (CTFA), Chartered Mutual Fund Counselor, and Chartered Retirement Planning Counselor. Chad graduate from Concordia College and completed the Graduate School of Banking in Boulder, Colorado.

Chad lives in Hudson with his wife Heidi and their three children. He serves on the Board of the Family Resource Center of the St. Croix Valley and is actively involved in the Hudson Daybreak Rotary Club. When not at the office, Chad enjoys spending time with his family and friends on the golf course or at the cabin.

Phone: 651.351.3761


Kathleen M. Elbert, CTFA, CFP®, AIF® // Senior Vice President – Trust

Kathy has been with the Trust Department of First State Bank and Trust since 1998, and has over twenty-five years of experience. She enjoys working on all aspects of the client relationship, including trust administration, investments and tax planning, and has been known to embrace change for the opportunities they present.

Kathy is a graduate of the University of Minnesota with a Bachelor of Applied Science Degree (B.A.Sc) in Mathematics. Kathy has extensive experience and knowledge.

Her professional designations include Accredited Asset Management SpecialistSM (AAMS®) issued by the College for Financial Planning, Accredited Tax Preparer (ATP®) from the Accreditation Council for Accountancy and Taxation, Certified Financial Planner (CFP®) issued by the Certified Financial Planner Board of Standards, Inc., Certified Trust and Financial Advisor (CFTA) issued by the ABA Institute of Certified Bankers, and Accredited Fiduciary Investment ManagerTM (AFIM®) and the Accredited Investment Fiduciary (AIF®) issued by the Center for Fiduciary Standards.

Kathy is an active member and current board member of the Stillwater Noon Rotary. She lives near New Richmond, WI with her husband and has two grown children.

Phone: 651.351.3762


Robert M. Gray, CTFA, CRPC® // Vice President – Trust 

Bob is a graduate of the University of Iowa and holds the professional designations of Certified Trust and Financial Advisor (CFTA) and Chartered Retirement Planning Counselor (CRPC® ). With over twenty-five years of financial services experience, he assists clients with financial planning, portfolio management, investment analysis, estate planning, and trust administration. He also has responsibility for client relationship management, marketing and new business development.


Bob is a member of the Stillwater Sunrise Rotary Club, President of the Ponies Touchdown Club, former President of the St. Croix Valley Athletic Association, participant on various school district committees, and has been a volunteer coach for numerous youth football, baseball and basketball teams. He resides in Stillwater with his wife and their two sons.

Phone: 651.351.3740


Brad Hallett, CTFA, ChFC® // Vice President – Trust 

As a Certified Trust and Financial Advisor (CTFA) and Chartered Financial Consultant (ChFC® ), Brad has over twenty years of financial services experience. He is a graduate of the University of St. Thomas (UST) and earned an M.B.A. from the Opus College of Business at UST. He assists clients with financial planning, portfolio management, investment analysis, estate planning, and trust administration.

Brad lives in Bayport with his wife. Currently, he serves as Treasurer on the Board of Directors of The Foundation for Bayport Public Library and is a member of the Hudson Noon Rotary Club. Passionate about cycling, Brad regularly rides the scenic roads of Washington County and of St. Croix County with Chilkoot Velo and Big Ring Flyers cycling clubs.

Phone: 651.351.3767


Pamela A. Baker, CTFA, CPA // Vice President – Trust 

Pamela Baker joined the Trust Department in March 2015 as Vice President of Trust. Pam is a licensed Certified Public Accountant (CPA) and has earned the designation of Certified Trust and Financial Advisor (CTFA). Prior to joining First State Bank and Trust, Pam was Vice President of Trust at a local community bank, where she worked for ten years. Prior to that, she spent twelve years working in public accounting, including eight years managing the estate and trust practice for a local branch of a national CPA firm.

Pam has a Bachelor of Science degree in Accounting from the University of Wisconsin-River Falls. She is a member of the Institute of Certified Bankers, American Institute of Certified Public Accountants and Minnesota Society of Certified Public Accountants.

Pam lives in Lake Elmo with her husband and two children. They are active members of their community and in their leisure time enjoy traveling and the outdoors. Pam serves as an active member of the Lake Elmo Rotary Club, Stillwater Area ACT on Alzheimer’s Action Team and on the Board of Directors as Treasurer for the Dragon Divas dragon boat racing team, an organization dedicated to breast cancer survivors.

Phone: 651.351.3765


Supporting Staff


Vital client services and account maintenance activities are handled by our knowledgeable Trust Services Department staff members. 

Pictured above: Brenda, Debbie, Tom, Billy, Pam, Bob, Chad, Brad, Kathy, Alex, Mary Jo, Jamie, Sue, & Mandee.


Contact our Trust Services Department


*Products are not a deposit or other obligation of, or guaranteed by, the bank or any of its affiliates. They are not insured by the FDIC/NCUSIF or any other agency of the United States, the bank, or any of its affiliates. There is investment risk including the possible loss of value.


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